The Forex trading platform is saturated with a plethora of tools and software, and one that stands out is the Pending Scalper MT5. This software, specifically designed for breakout trading, is a non-martingale scalping Expert Advisor (EA) that focuses on capitalizing on relative highs and lows of the market.
Features and Specifications
The Pending Scalper MT5 is designed to enter the market using pending orders. The minimum deposit requirement for this software is $20, making it accessible to a wide range of traders. One of the key features of this forex software is its ability to test six currency pairs simultaneously, each with its individual input data. This feature allows users to diversify their trading strategy and potentially increase their profit margins.
It is recommended to set the software on different charts when trading on a demo or real trading account, corresponding to the working currency pairs’ names. The software has a preference for brokers with 5-digit quotes and filters by spread, slippage, and price gap. These features contribute to the software’s accuracy and reliability.
Trading Conditions and Compatibility
For optimal performance, the Pending Scalper MT5 requires certain trading conditions. A low spread is crucial, and ECN accounts are most suitable. The software should be tested in the “Every tick is based on real tick” mode for best results. IC Markets broker offers the most suitable trading conditions for five currency pairs (EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD) with this strategy on a “Standard” account type (no commission).
Input Parameters and Settings
The Pending Scalper MT5 has various input parameters that users can customize. The “PERIOD” parameter sets the time frame for trading. Users can choose between a fixed or dynamic lot size. With a fixed lot size, the lot size is constant, whereas with a dynamic lot size, the lot size depends on the balance. This flexibility allows traders to manage their risk and trading strategy effectively.
Getting Started with Pending Scalper MT5
For beginners, the “file.set” contains the input parameters’ values. To install them in the advisor’s menu, select “load” and choose the desired “file.set”. Although the MT-4 version is available as “Pending_Scalper_MT4”, this review focuses on the MT5 platform.
Where Can You Find Independent Testing?
For those interested in seeing the Pending Scalper MT5 in action, independent testing results are available on the forexroboteasy.com website. Users can subscribe to updates on the testing results of this product, providing valuable insight into its performance over time.
FAQs
What is the minimum deposit for Pending Scalper MT5? The minimum deposit for this software is $20.
Can Pending Scalper MT5 test multiple currency pairs simultaneously? Yes, the software can test up to six currency pairs at the same time.
What trading conditions are suitable for Pending Scalper MT5? It requires a low spread, and ECN accounts are most suitable. Testing should be done in the “Every tick is based on real tick” mode.
We invite users of the Pending Scalper MT5 to share their experiences and provide feedback. Remember, this review is an independent analysis, and the software is not affiliated with this platform. Happy trading!
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