AWESOME SCALPER PRO EA MT4 – Full Input Settings Analysis

Awesome Scalper Pro EA is a MetaTrader 4 forex trading system. The system identifies overbought and oversold entry points through the W%R indicator with a variable grid system that prevents any loss. The system has been designed specifically to trade in only preset overbought or oversold levels. The system is developed to give the trader a fruitful way to benefit from short-term forex market opportunities.

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MAIN TRADING SETTINGS

• Trade Lot Size: 0.01 (fixed, not auto lot)
• Max Spread: 30 points
• Turn off extra orders in loss: Off
  New positions can be initiated irrespective of the fact that existing positions are in loss.
• Trend Filter for First Order: On (on WPR and MA)
  • WPR Levels: -5 for Buy / -95 for Sell
  • MA Period: 20
• Extra Indicators:
  RSI not used by default (can be used if needed: Sell if RSI > 70, Buy if RSI < 30)
• Stop Loss and Take Profit initially:
  • TP: 100 pips
  • SL: 0 pips (based on hedging strategy or drawdown control)

HEDGE STRATEGY – AVERAGING – DRAWDOWN

• Averaging: Off
  No averaging is applied.
• Advanced Hedging: On from the 9th order
  • Minimum Distance: 50 pips
  • Hedge Take Profit: 150 pips
  • Reverse Hedge Take Profit: -95 pips
  • Max Hedge Attempts: 6 times
• Drawdown Reduction (2 Stages):
  • Stage 1: From the 7th order, to orders 4 to 8, with a TP of 100 pips
  • Stage 2: From the 10th order, to order 1.5, with a TP of 100 pips

RISK MANAGEMENT & ACCOUNT PROTECTION

• Temporarily Pause EA: When there are 10 open trades
• Block Trading on Extreme WPR Values:
  • Block Buy if WPR < -80
  • Block Sell if WPR > -20
  • Used on the D1 (Daily) timeframe with a minimum of 3 candles confirming the condition
• Magic Number: 888888
• Trade Comment (pair): AU/CAD

Key Takeaways

• Precision Scalping Strategy: The EA uses W%R to identify precise scalping opportunities that ensure profitability in fluctuating market situations.
• Sophisticated Risk Management: Through drawdown minimization strategies and hedging instruments, it curtails trading risks.
• Adaptive Grid System: The grid system would change automatically with the direction of market movement and easily recover from losing positions.