ProScalpingFX
ProScalpingFX is an Expert Advisor, designed specifically for a trading strategy known as scalping. Following this style, a trader is signaled to open a position during price pullbacks. The most peculiar thing typical of this strategy is that positions are usually opened during the periods of high volatility in the market, triggered by the release of key economic news or other important data in the USA or Eurozone.
The ProScalpingFX strategy is tailored for the EUR/USD currency pair, mainly due to its high liquidity in Forex. This trading tool is characterised by narrow spreads, and a low potential for slippage. All these factors are highly beneficial to scalpers.
In the ProScalpingFX strategy, there are basically two instruments for catching trading signals - Fibonacci levels and the WPR oscillator.
The release of important macroeconomic news makes a price go downward sharply within the day time frame. As soon as the market correction is initiated, the currency pair starts going up in price. As a rule of thumb, it takes place 2-4 hours after the first price change. When the price reaches 23.6% of Fibonacci level, the WPR oscillator parameters should be factored in. If the WPR is above -20, a trader usually goes short setting 10 pips of Take Profit and 30 pips of Stop Loss. The same scenario is observed when opening Buy orders.
ProScalpingFX benefits:
- More than 80% of trades are profitable;
- The EA operates with low drawdowns (10-20%);
- The average life of an open position is 45 min;
- ProScalpingFX is compatible with other EAs.
The ProScalpingFX EA is not Martingale based and is perfect as a supplementary Advisor.
