Some disadvantages of Rollover Scalper:
- Currently the markets aren't that favorable for night scalping because of the fundamentals, so the next few months the EA might show 0% or even negative return. However, it happened in the past too and it was still profitable over all ~20 years.
- It's a scalper, so you'll need a broker with low spread and good execution time, preferably an ECN broker. ICMarkets would be a good choice.
- It's susceptible to slippage (which can't be backtested or limited on ECN brokers). However, the EA has many filters to minimize the negative slippage.
- Unlike martingale/grid EAs it isn't profitable every day/week/month, yet it's still more profitable and less risky.
The advantages of Rollover Scalper EA:
- It has live signals :
live signal (LF set) ( the .set file )
live signal (HF3 set) (the .set is shared in the telegram channel along some other sets)
- No risky strategy . It doesn't use martingale or grid. It doesn't keep open trades for more than a few hours. P.S. It has a grid feature (requested by others) but it's not used in any set.
- Its strategy is transparent . You can be sure the EA isn't a history reader by checking yourself the trades, logs and the pdf documentation. The documentation explains each parameter. Logs explain why and how each trades was (or was not) made. As long as you don't know the strategy, you shouldn't trust the EA, in my opinion.
- It has a lot of parameters which makes the EA flexible and customizable , but don't worry, not all are used at the same time so it's easy to understand. It's more a strategy builder EA than a single strategy EA. It's like a lego - you choose a set of parameters and build a new strategy. This way you can make sure that you're using the strategy that suits your style the best.
- The EA has both MT4 and MT5 versions, which means you can use the MT5 version to backtest it for free , with 100% quality and real ticks, even without buying it.
- Its strategy is based on some basic principles of how the market works , not on simple blind o ver-optimization which doesn't work long-term. Even the non-optimized sets of Rollover Scalper are profitable overall.
- It's easy to setup (one chart only is required)
- Small balance required : 50-100$ for each 0.01 lot size.
Before you buy:
- To backtest, use one chart only (GBPUSD or EURUSD), M5 timeframe. MT4 isn't capable of doing multicurrency backtesting (use MT5 instead)
- The sets included are set for GMT+3 ( GMT+3 is the standard for Forex charts, also called "New York Close" forex charts ).
- Make sure you can accept losses. Night scalpers (including Rollover Scalper EA) can have months with no profit. Yet, funny thing - they are more profitable than martingale/grid EAs. They're more similar to manual day-trading in that sense.
- If you have any questions, feel free to ask.
After you buy:
- Write me in private so that I'd add you to the private telegram channel (you'll find there the documentation, other sets, Q&A and more useful information).
- Use a proper risk-management. 100 lot step (0.01 lot size for each 100$) in most cases would mean a 50% maximum drawdown.
After you rent also write me in private so that I'd share a better set file with you.
Shortly about me: I'm both a trader and software developer. Each line of the EA is written by me + I have a good understanding of how Forex works, how the strategy works, how each parameter affects it and so on.
Because I have many side-projects I might respond with some delay. I'm also currently not planning any new updates , but the EA was working fine for many months without any update anyways.
I sell Rollover Scalper EA on MQL5 market only. If you find it anywhere else then it might be a fake and it could also contain a malware. By purchasing the EA on MQL5 you also get the access to the telegram channel, to most sets and to Q&A.
