Advanced Scalper is a Forex EA that is sold on the MQL5 website. The vendor claims that the robot has been in development for several years. With this EA, you will find multiple setup possibilities, and according to the developer, it can be customized to suit the requirements of the customer.
This EA does not have an official website, so the MQL5 product page is the only source of information. Here, the vendor has explained in brief how the system functions. We have a list of EA characteristics and a link to a user manual.
The developer, Wim Schrynemakers, is a resident of Malta. According to his MQL5 profile, this person has more than eight years of experience, but he claims to have been manufacturing EAs since 2005. There is no background information on the developer or the people he works with. Other products from this seller include The Reaper, Red Hawk, Gecko, Grid King, AutoGenEA, and Momentum EA.
Advanced Scalper at a glance
|Trading Platforms||MT4, MT5|
|Currency Pairs||EUR/USD, GBP/USD, & USD/JPY|
Advanced Scalper functionality
Theoretically, you can use this robot in any low spread market with decent liquidity, but the vendor recommends pairs like EUR/USD, USD/JPY, and GBP/USD. It uses stop loss with every trade and has an advanced stop-loss management feature. To avoid trading during bad market conditions, it uses a spread filter, while the slippage control algorithm lets it avoid major losses during heavy slippage.
The vendor recommends investing at least $150 for this robot. Also, you should use the robot on brokers offering low spread, low commission, and swift execution.
Advanced Scalper trading strategy tests
Based on the user-defined entry criteria, the EA finds highs and lows on the chart. Once the price breaks out of the short-term support and resistance levels, the robot will scalp in the direction of the breakout. The EA can also be used for elaborate exit strategies. You can choose to follow all trades or only those which have a specific magic number or comment.
This backtest was conducted from 2014 to 2017 for the H1 timeframe, using fixed lots of 0.01. The EA conducted 679 trades, winning 57.88% of them and generating a total profit of $146.03. During the test, the maximal drawdown was quite low at 0.35%, indicating a low-risk strategy, while the profit factor was quite high at 2.44.
What about Advanced Scalper live trading results
The vendor has not shared the verified trading results, but we managed to find this demo account on Myfxbook after doing our own research. Since January 2018, the EA conducted 2955 trades through this platform, winning 74% of them and generating a total profit of $1,452,940.20. The win rate is much higher compared to the backtest, but the profit factor is lower at 1.61.
For the last 20 trades, the EA has used a lot size of 99.00. It’s a risky trading approach as in case of loss, over $1K is lost. The robot conducts multiple trades daily, holding each for an average of 52 minutes. The average win and loss for this account are 8.09 pips/$1,742.50 and -14.25 pips/-$3,127.26, respectively.
There are no reviews for this EA on third-party websites. On MQL5, there are a few reviews, but we cannot verify their authenticity.
Advanced Scalper EA Review SummaryAdvanced Scalper
Functionality3/5 NeutralThis EA has a slippage control algorithm and mitigates losses with the help of stop loss.
Trading Strategy2/5 BadAdvanced Scalper follows a high-frequency scalping strategy that can be stressful for new traders.
Live Results3/5 NeutralThe EA has a high win rate and has been able to generate profits at a steady rate without suffering too many losses.
Customer support2/5 BadThere is no dedicated support team and you must contact the vendor via MQL5 if you face any issues.
User Reviews2/5 BadThere are no user reviews for the robot on websites like Trustpilot, Quora, Myfxbook, and Forex Peace Army.
- High win rate
- Lack of vendor transparency
- No refund policy
- No user reviews