The Evening Scalper Pro MT5 is a state-of-the-art mean-reversion trading system designed to operate during the American trading session. Unlike most other scalping systems, this EA uses a unique trading logic on cross pairs that have a strong mean-reverting tendency with high profit targets.
Unique Trading Logic
Evening Scalper Pro MT5 stands out from other scalping systems due to its unique trading logic. It enters the market with market orders from 19 to 23h, avoiding trades during rollover (0:00-1:00). The EA focuses on classical scalping, aiming to enter and exit trades within a few hours at most. The system utilizes advanced techniques to identify the most accurate points of entry and exit, resulting in a high win rate.
Supported Currency Pairs and Timeframe
This trading system is designed to work with the following currency pairs: EURNZD, EURAUD, AUDNZD, NZDCAD, AUDCAD, EURGBP, GBPAUD, and GBPCAD. The recommended timeframe for optimal performance is M5.
Key Features
One Chart Setup: You only need one chart to trade all supported symbols.
Multiple Currency Pairs Support: The EA can handle multiple currency pairs simultaneously.
No Trades During Low Liquidity and Rollover Periods: The EA avoids opening trades during periods of low liquidity and bank rollover (0:00-1:00).
Market Execution: Trades are executed with market orders for efficient entry and exit.
Advanced News Filter: The EA incorporates an advanced news filter to avoid trading during major news events.
Stock Market Crash Filter: The EA has a filter in place to prevent trading during stock market crashes.
Auto GMT Detection: The EA automatically detects the GMT offset for accurate trading.
Self Diagnostic System: The EA includes a self-diagnostic system for optimal performance.
Negative Swap Filter: The EA cancels trading on Wednesday evening in the direction of the negative swap.
Installation and Requirements
To install the EA, attach it to only one M5 chart. It is recommended to use the EURUSD pair, as it has the most price ticks. If your broker uses a suffix (e.g., EURUSD.a), update the symbol parameter accordingly. The EA does not require any .set files as all settings are stored internally.
Allow web requests to the provided URLs for news filter and GMT detection. The EA requires a hedging account and good brokerage conditions, including low spread and slippage during the rollover time. It is advisable to use a reputable ECN broker for optimal performance. Running the EA on a VPS continuously is recommended.
Setting and Strategy
The Evening Scalper Pro MT5 offers various settings and strategies to suit individual preferences. These include lot-sizing method, maximum lot size, maximum spread, maximum slippage, maximum number of symbols at a time, and more. The EA allows buying and selling trades and features a maximum drawdown percent to manage risk.
The strategy involves trading a list of selected currency pairs. The EA can start and stop opening orders at specific hours, with the option to enable or disable a smart time filter. Trading stops on Friday at the designated hour, and a Christmas/New Year filter can be activated. Stop loss, stop loss hiding, and swap filter settings are also available.
FAQ
Q: Can I use the EA with different currency pairs?
A: The EA supports multiple currency pairs, as mentioned earlier. However, it is recommended to use the recommended pairs for optimal results.
Q: Does the EA use martingale or grid strategies?
A: No, the EA does not use martingale or grid strategies. It only enters trades with market orders and utilizes a stop loss for each trade.
Q: How can I backtest the EA?
A: Backtests should be done with Tick Data Suite GMT 2 with US DST. This GMT offset is commonly used by most brokers.
Q: Can I run the EA on a non-hedging account?
A: No, the EA requires a hedging account for optimal performance.
Conclusion
The Evening Scalper Pro MT5 is a state-of-the-art mean-reversion trading system suitable for traders looking to scalp during the American trading session. With its unique trading logic and focus on cross pairs with strong mean-reverting tendencies, this EA offers high-profit targets and a solid backtest and live performance. Traders can take advantage of its advanced features such as the news filter, stock market crash filter, and self-diagnostic system for enhanced trading experience.
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