Euronis Scalper is a Forex expert advisor that trades on multiple currency pairs. The robot can use real and virtual stop losses to prevent stop hunting from the broker. There are many settings with the code of the algorithm that can be tweaked according to the trader’s liking. Let us see if the algorithm can scalp the market with accuracy in our Euronis Scalper review.
The robot has the following features:
- It has a virtual stop loss function that hides the exit point from the broker.
- It can use hedging and netting modes at the desire of the trader.
- It only needs to be installed on a single chart to work on multiple currency pairs.
- It has custom indicators for more accurate market entry.
- There is no need to import any settings.
How it works
The robot will work if you follow the steps below:
- Download the file on the MT 5 platform after purchasing it from the developer.
- Place the robot on the charts.
- Do not forget to enable the auto-trading button.
Trading strategies and currency pairs
The developer states that the robot uses a scalping strategy without employing grid and martingale. It can use hedging and netting if turned on in the settings. The EA can work on EURUSD, GBPUSD, USDCHF, USDCAD, USDJPY, EURAUD, GBPAUD, AUDCAD, EURCAD, and CHFJPY. To understand the strategy further, we head over to the history on Myfxbook. From there, we can see an average trade duration of 1 hour and 48 minutes which conforms more to a day trading approach. The robot uses a stop loss and take profit of 1 to 3 pips in most cases.
The developer shares backtesting records through multiple images on the MQL 5 website. For ten pairs at IC markets, the relative drawdown was around 14.40%. The winning rate was 82.12%, with a profit factor of about 2.77. The starting balance was $100, and the robot tanked an average profit of $517285.48 during this period. There were 4593 trades in total, with 9186 deals. The average profitable trade was $214.58, while the worst one was -$355.78.
Euronis Scalper trading statistics
Verified trading records are available on Myfxbook. They show records from October 01, 2015, till September 10,2021. The robot has an average monthly gain of 0.26%, with a drawdown of 4.04%. This is a poor ratio between the monthly gain and the drawdown. It has traded 39 trades with a winning rate of 79% and a profit factor of 10.21. The best trade was $5.63, while the worst was -$1.31.
Pricing and refund
The EA is available for an asking price of $499. Traders can also rent it for one month at $100. The license can be used for one MT 5 account only.
What else should you know about Euronic Scalper
Customer reviews on MQL 5 show the overall viewpoint of traders. An investor states that the EA is not profitable as it cannot trade consistently. It trades during the morning where the spreads are high, so traders should be cautious.