The Channel Scalper EA MT5 is a forex trading software developed for the MetaTrader 5 platform. It employs a unique strategy based on the Simple Moving Average (SMA) channel, price change rate, and volatility to generate real-time trading signals.
Trading Mechanics of Channel Scalper EA MT5
This software trades within a specified two-hour window, beginning one hour before rollover and ending one hour after. This time frame is optimized for brokers implementing Greenwich Mean Time (GMT) 2 during winter and GMT 3 during summer. For brokers utilizing GMT-0, the software’s trading start time should be adjusted between 20:00 and 22:00.
The Channel Scalper EA MT5 supports trading with a variety of currency pairs, including EURUSD, GBPUSD, USDCHF, USDJPY, USDCAD, EURJPY, EURGBP, EURCHF, GBPJPY, EURCAD, EURAUD, GBPAUD, GBPCAD, GBPCHF, AUDCAD, NZDJPY, CADCHF, CHFJPY, and AUDFJPY. It operates on the M5 timeframe and requires ECN accounts with minimal overnight spread to function effectively.
Safe Trading Features
All trading orders executed by the Channel Scalper EA MT5 are backed by a stop loss, ensuring no dangerous strategies are implemented. The software is designed to operate 24/7 on a fully configured and ready-to-go VPS Expert. It also incorporates a news filter, which requires the addition of the URL into the list of permitted URLs in the Expert’s settings.
Configurable Trading Settings
The Channel Scalper EA MT5 further offers a variety of customizable settings. These include options to turn the news filter on or off, display inactive news, and specify trading days. Additionally, it allows users to define the start and end of trading, close all open trading orders, and set the trading mode, margin usage, initial lot, and lot change with balance.
Trading Strategy and Profitability
The software’s trading strategy revolves around the volatility of the channel. It starts trading when there’s a significant expansion of the channel. The take profit is set as per the channel’s size, with options for conservative, aggressive, and real TP settings. Notably, the software uses a fixed hidden take profit with individual settings in pips.
FAQs
What is the Channel Scalper EA MT5?
The Channel Scalper EA MT5 is a forex trading software programmed for the MetaTrader 5 platform. It uses real-time SMA trading insights to generate trading signals based on price change rate and volatility.
How does the Channel Scalper EA MT5 work?
The software trades within a predetermined time frame and supports multiple currency pairs. It operates on the M5 timeframe and requires the use of ECN accounts with a minimum overnight spread.
Is the Channel Scalper EA MT5 safe?
Yes, all trading orders executed by the Channel Scalper EA MT5 are protected by a stop loss. The software does not use any dangerous strategies.
How can I customize the Channel Scalper EA MT5 settings?
The software offers a wide range of customizable settings, including options to turn the news filter on or off, display inactive news, specify trading days, and set the trading mode, margin usage, initial lot, and lot change with balance.
Independent testing of the Channel Scalper EA MT5 is available on forexroboteasy.com. Users can also subscribe to updates on the product’s testing results. We invite users to share their experiences with this software. Please note that this is an independent product review and the software is not affiliated with us.
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