Description
Content: Expert: Price Action Scalping.ex4 v1.68
Price Action Scalping Expert Advisor Overview
The Price Action Scalping EA is a sophisticated scalping tool designed to identify and execute trades using advanced price action strategies combined with technical indicators and AI (Artificial Intelligence). It is highly effective on low timeframes like M1 and M5 and works best with currency pairs offering low spreads. This EA offers flexibility with fixed lot sizes or compound interest options, making it adaptable to various trading styles and risk preferences.
Key Features
- Strategic Trading Approach
- Utilizes price action techniques combined with RSI and Bollinger Bands for precise trade entries.
- Incorporates AI for enhanced trade decision-making.
- Safety Mechanisms
- Spreads Protection: Avoids entering trades during volatile conditions by using pending stop orders instead of market orders.
- Small Stop Loss: Every trade is protected with a tight stop loss, limiting potential losses.
- No Risky Techniques
- Does not use grid or martingale strategies, ensuring controlled risk exposure.
- Customizable Lot Sizing
- Allows users to choose between fixed lot sizes or compound interest for trade volume adjustments.
- Wide Pair Compatibility
- Optimized for 7 currency pairs: GBPUSD (GU), EURUSD (EU), GBPJPY (GJ), USDCHF (UCHF), EURCHF (ECHF), AUDJPY (AJ), and USDJPY (UJ).
- Unlimited License
- No restrictions on usage or broker compatibility, offering flexibility for different trading environments.
Recommended Settings
- Broker Recommendations
- Best with ECN brokers offering low spreads, such as Tickmill, FBS, Exness, or Alpari.
- Currency Pairs and Timeframe
- Optimized for the pairs mentioned above.
- Recommended timeframe: M1 (1-minute) for best results.
- Lot Sizing Settings
- Fixed Lots Size: Default 0.0 (allows compound interest).
- Lot Size per $1000: Suggested 0.3 for leverage > 1:100.
- Minimal Lot Size: 0.01.
- Maximal Lot Size: 60.
- Spread and Stop Loss Settings
- Maximal Spread to Entry: 1.3 pips.
- Stop Loss: 3.0 pips.
- Indicator Configurations
- Bollinger Bands Period: 23.
- RSI Period: 18.
Personal Test Results
- Trading Conditions:
- Tested with $110 deposit on an FBS account using 1:500 leverage.
- Real account results:
- Drawdown: ~15% (with risky fixed lot settings of 0.1 per $110).
- Profit: Over 60% return in one month.
- Notes on Performance:
- The EA is highly dependent on low spreads and high leverage. A minimum leverage of 1:400 is recommended for accounts with smaller margins.
- A noted drawdown spike of 71% was due to manual trades impacting performance. Actual EA drawdown was around 15% under optimal conditions.
Usage Recommendations
- For scalping: Use high leverage (1:400 or higher) and ensure a low spread environment.
- Smaller Accounts: Start with a modest balance and apply conservative settings to mitigate risk.
- Exit Strategy: Focus on small, quick trades with the defined stop loss and take profit levels.
Pricing and Availability
- The EA is priced at $1,500 and is available at mastereas.com with a detailed product description.
- Purchased version includes an unlimited license and all the settings mentioned above.
The Price Action Scalping EA offers a robust solution for traders seeking a disciplined and methodical approach to scalping. Its blend of price action, AI, and technical indicators ensures a competitive edge in the forex market.
