The Trend Scalper EA is a Forex expert advisor tailored specifically for scalping on the GBPJPY currency pair. Using a fast-paced scalping strategy, this EA aims to capitalize on small price movements within short time frames. Here’s a breakdown of its features, trading approach, and why it could be a valuable tool for Forex traders.
Key Features and Strategy of the Trend Scalper EA
- Risk Management Through Trade Limits: To control risk, the Trend Scalper EA limits the number of open trades to a maximum of four at any given time. This cap helps keep exposure within a manageable range, reducing the chance of overexposure in volatile market conditions.
- Built-in Stop Loss and Take Profit: Every trade the EA opens is protected by predefined Stop Loss (SL) and Take Profit (TP) orders:
- Take Profit (TP): The EA sets a maximum TP of 30 pips, allowing for quick profit capture when a target price level is reached.
- Stop Loss (SL): With a maximum SL of 210 pips, the EA establishes a safety threshold to limit potential losses in the event of adverse market movements.
- Avoidance of High-Risk Systems: The Trend Scalper EA is designed to avoid high-risk trading systems such as Martingale or grid strategies, which can increase risk significantly. However, it does occasionally use a hedging strategy, holding both buy and sell positions on the same pair to mitigate risk during large market swings.
Recommendations for Optimal Use
Minimum Account Balance: A starting balance of $100 for a 0.01 lot size is recommended to support the EA’s scalping strategy effectively.
Currency Pair Focus: While designed primarily for GBPJPY, the EA can technically operate on any currency pair. 
Optimal Time Frame: It performs best on the M5 (5-minute) time frame, though it can adapt to other time frames if needed.
Recommend running this free forex EA on a VPS (Vultr)
Low Spread ECN account is also recommended Icmarket and Exness
