The free Price Action Scalper EA for Metatrader 4 is a non-lagging automated Forex robot that runs on price action strategies.
The EA made 60% gains during the test period with an acceptable drawdown.
The robot offers spread protection and uses pending offers to take advantage of price movements based on price action.
It also incorporates RSI and Bollinger bands in a bid to identify price movements in advance.
The EA can be used on unlimited trading accounts, both demo and live and should work on any time frame.
Recommended: run the Price Action Scalper expert advisor on a demo account first over an extended period of time before running it on a live trading account.
The strategy tester report below shows the Price Action Scalper EA trading performance (click on the chart to zoom in).
Long positions won: 71.97%
Short positions won: 64.01%
Consecutive wins: 3
The picture below shows the Price Action Scalper EA attached to the EUR/USD 5-minute chart.
Download This Expert Advisor (MT4)
General Information & Recommendations
- Optimized for the EUR/USD and GBP/USD
- Optimized for the M1 and M5 time frame
- Recommended minimum account balance: $100
- Works on unlimited demo accounts.
- Works on unlimited live accounts.
- Developed for Metatrader 4
EA Input Parameters
Auto lots to margin, trade size in lots, maximum spread to trade, slippage, magic number, stop alerts, stop emails, take profit, trailing take profit in bollinger bands, extremes, stop loss follow
How to access the inputs tab? Right click on the chart > properties > inputs tab (adjust EA settings here)
How do I install the Price Action Scalper Robot in Metatrader 4?
- Open the Metatrader 4 platform and select “File” from the top menu
- Click on “Open Data Folder” and select the “MQL4” folder
- Click on “Experts” folder and drag and drop the PRICE_ACTION_EA_1.3.ex4 file into this folder
- Restart the Metatrader 4 platform and attach the expert advisor to the chart