PowerScalper EA
This is the engine that drives your successful future trading!
PowerScalper Expert Advisor is a sophisticated MT4 trading robot capable of successfully trading a wide variety of forex currencies and metals.
This works both in scalping and day trading, we ourselves have used the system in the past to trade XAUUSD, XAGUSD, EURUSD, GPBUSD and others with it. We have used various timing strategies ranging from M1, through M5, M15, M30, H1, H4 and D1.
The robot has a built-in timing which makes it very flexible to even configure special scenarios during your nighttime or to stop before the upcoming news, a very good trailing stop functionality for take profit, you can trade with and without martingale strategy and you can determine the number of positions open at the same time to limit the risk of too many parallel positions.
The system has an equity protection functionality to limit major losses or total losses. The bot pitches very well inside a "box" and takes profits there very efficiently in zig-zag mode.
PowerScalper - unboxed Edition trading XAUUSD with several positions open
The trading bot is integrated into the MQL4/Experts directory of the account and connected to the corresponding trading chart and then configured on it.
This is the main component to trade on the stock market and achieve success, i.e. make money.
Comparison:
If you were to compare all our trading components to a car, then PowerScalper is the engine that drives all trading.
It is your personal trader, ready for you 24/7 with the settings you tell it to trade on the various broker instruments, whatever you want and whatever scale you think.
The bot can be operated in all time frames from M1 to W1 (M1/M5/M15/M30/H1/H4/D1/W1), so scalping, day trading and also swing trading is possible with it.
The bot works best with gold (XAUUSD), but can also be used for other instruments such as silver (XAGUSD), EURUSD, GBPUSD, or other forex currency pairs. EURUSD and GBPUSD work very well with PowerScalper and should always be tested by you.
The bot has a very large "pitch potential" and can produce thousands of dollars of turnover per day, week or month, depending on the configuration that you will give it, as well as the market trend, but of course it is always important to make sure that the drawdown does not become proportionally larger than the profit achieved. Therefore you have to test it well with your settings before you are throwing real money into it.
The Expert-Advisor
- has an internal time control, so you can trade with it fully automatically, you can set start and end times for trading for each day of the week
- You can set what should happen to any open positions at the end of the timed trading.
- You can freely choose the lot numbers to be used or use the corresponding money management functionality.
- The bot has a very good trailing stop system, which can be configured freely. This improves the profit ratio enormously. With the trailing stop enabled, more than 90% of all winning positions can be won via the trailing stop functionality once the trailing stop is correctly adjusted for the instrument you trade.
- A risk protection and equity protection is built in, which monitors and protects the trader's account on a percentage basis. Here you can enter a percentage value, which when reached will then be closed to prevent a runaway drawdown from wiping out the entire account.
- The hedging functionality is a martingale mechanism, which can be freely adjusted or also switched off.
- You can also configure how many positions the bot will open at maximum. This prevents you from too high drawdowns, if for instance you tell the bot to only open 1 or 2 positions in parallel.
- The bot can be applied in all different timeframes. In addition, it has a "turbo-functionality", because in addition to the expiration of the set time frame, it can also be set that new positions are already opened if a take-profit has previously taken place.
- The bot can be applied to different instruments and charts.
- The bot has a complete time control, through which many different strategies can be set up, e.g. start and also end at a certain time during the night or during the day, for example get out of the market before the 3-star news comes in the afternoon, in doing so open trades can be closed automatically, it can be distinguished whether they are in plus or in drawdown.
- The newer versions contain a so-called "box management". Here the bot looks at whether it is "in a box" or "in a trend breakout" and thereby changes its trade behavior.
We have found strategies in the past where the PowerScalper works with up to 98.5% reliability in highly volatile markets. In very low timeframes (example D1, one trade per day) we have found in the past phases over weeks or even months that the bot survives without any manually manageable errors.
Of course, this all depends on the instrument you are trading and the market environment and its volatility. Experienced traders should be aware that there is no such thing as 100% certainty in the stock markets and that the open positions should be checked again and again so that they can be adjusted manually if necessary.
If you are interested you should also read our blog about how to build a high reliabilty backtesting system, so that you are capeabale to backtest your settings fast an reliable, but also compare your forward trading results in a "forward demo trading scenario".
Boxtrading!
Most Expert-Advisors works best, when they are running in "Zig-Zag Mode" in a "Box". A box is defined picture during your trading where the prices are swinging in a certain zone. They go up and down, green and red candles are constantly changing. You can trade forward or revers (so with the stream or against it) since there are enough reversals in zig-zag that the EA can meet its targets gets its Take-Profits, uses its Trailing-Stopp and continiously earns money.
Nevertheless we never know, when the box ends and a "Breakout" is upcoming. A breakout is a scenario where the prices continues to climb (or fall) and the necessary reversals aren't met anymore. The price simply moves "out of the box" to a different stage.
Beakouts are normally hard to maintain, since those are the really dangerous points during your trading where the higher Drawdowns will occur.
So if ever possible we need to detect, that the smooth box-trading is over and a breakout happens just now. We want to protect ourselves that we have too many "wrong positions" open when the breakout occurs.
For once we can limit the total number of open positions to a small amount, if you go with one or two, thats a total different thing as if you would start with 5 or more in such a phase. We saw people and bots trading in the past with 35 open positions in one simple profile :-)
This is a very high risk, when the market changes ad-hock.
Secondly, we have to ask ourselves "When is a box a box?" When is it really a box, how big must be the maximum width of this box and when should our bot open a position when in this box? The most wrong positions that Expert-Advisors open are based on their timing-schedules. Let's say its being set to open a new position every hour, so H1-trading. Who tells us that this is a good timing for a new position? Manual traders would never do this, since they are looking to optimize their opening and closing positions most of the time based on technical statistics like RSI, ATR, STOCHASTIK, BOLLINGER, MACD you name it. They try to find the best situations to enter the market and to exit from the market. Think about it. How can it then be benefitial in autonomic trading if we enter the market simply because its 14:00 now and we are set on an hourly schedule? That must lead to orphants (wrong paced positions) sooner or later.
So we automated this and created a "Box-Trading-Mechanism" for our PowerScalper. The newest version has a clear defined and visible box.
Most Expert-Advisors works best, when they are running in "Zig-Zag Mode" in a "Box". A box is defined picture during your trading where the prices are swinging in a certain zone. They go up and down, green and red candles are constantly changing. You can trade forward or revers (so with the stream or against it) since there are enough reversals in zig-zag that the EA can meet its targets gets its Take-Profits, uses its Trailing-Stopp and continiously earns money.
Nevertheless we never know, when the box ends and a "Breakout" is upcoming. A breakout is a scenario where the prices continues to climb (or fall) and the necessary reversals aren't met anymore. The price simply moves "out of the box" to a different stage.
Beakouts are normally hard to maintain, since those are the really dangerous points during your trading where the higher Drawdowns will occur.
So if ever possible we need to detect, that the smooth box-trading is over and a breakout happens just now. We want to protect ourselves that we have too many "wrong positions" open when the breakout occurs.
For once we can limit the total number of open positions to a small amount, if you go with one or two, thats a total different thing as if you would start with 5 or more in such a phase. We saw people and bots trading in the past with 35 open positions in one simple profile :-)
This is a very high risk, when the market changes ad-hock.
Secondly, we have to ask ourselves "When is a box a box?" When is it really a box, how big must be the maximum width of this box and when should our bot open a position when in this box? The most wrong positions that Expert-Advisors open are based on their timing-schedules. Let's say its being set to open a new position every hour, so H1-trading. Who tells us that this is a good timing for a new position? Manual traders would never do this, since they are looking to optimize their opening and closing positions most of the time based on technical statistics like RSI, ATR, STOCHASTIK, BOLLINGER, MACD you name it. They try to find the best situations to enter the market and to exit from the market. Think about it. How can it then be benefitial in autonomic trading if we enter the market simply because its 14:00 now and we are set on an hourly schedule? That must lead to orphants (wrong paced positions) sooner or later.
So we automated this and created a "Box-Trading-Mechanism" for our PowerScalper. The newest version has a clear defined and visible box.
PowerScalper - clear defined box with a 2-speed algorithm
As you can see on the screenshot the bot draws a box into the trading chart, as well as 2 red configurable price markers that are exactly in the middle of the box.
Furthermore you can see above that the bot is a "multi-speed" bot now. It can optimize itself and detects if a breakout occurs or not. The bot now has a "Fast Mode", as well as a "Slow Mode". In our example here the Fast Mode is at M1 (open a new trade every minute), the Slow Mode is at M5 (wait 5 minutes and check the situation of the trend).
Those speeds can be combined freely. We want the bot to make money for you, when it is within your defined box. If the price is trending and breaking out we want the bot "to not open a new wrong position" during the trend since it is a real risk.
Furthermore you see the "black pricing marker" in the picture. The one in our example is at 1,936.01 USD while trading XAUUSD. You can see that the marker is still in the blue part of the box, but it is not in the middle in between the two red markers.
So now, we have created an algorithm that the bot should go with Fast Mode (in our example 1 Minute) and open a trade every time during Fast Mode. So normally it would open a trade any minute (without algo), but now we have given it a "Quality Control" in terms that it only opens a trade in Fast Mode when the black price marker is in between the two red markers. Or in other words exactly in the middle of your defined box.
That gives us a very high probability that we can close the trade with a Take-Profit, before the trend will leave the box.
When the trend occurs and the black pricing marker leaves the box, the system switches to Slow Mode and waits for the time that is set for Slow Mode before it checks for opening the next one.
The box moves with the stream. We can configure it however we like, we can set the box size, we can set the evaluation time backwards, so that we can optimize our complete trading behaviour based on the instruments we are trading and also based on the trends that are running throughout your trading day.
The quality of well placed positions is enhancend tremendously through the algorithm and the number of "orphants" (wrong placed positions) is shrinked to a minimum. This enhances the overall reliability of the trading engine enormous and gives you a mch better chance to be successfl during your trading.
This makes it possible to give you a self-regulating expert-advisor that is listening to the market and adjusts itself accordingly.
Here is how you can configure your box-environment:
Furthermore you can see above that the bot is a "multi-speed" bot now. It can optimize itself and detects if a breakout occurs or not. The bot now has a "Fast Mode", as well as a "Slow Mode". In our example here the Fast Mode is at M1 (open a new trade every minute), the Slow Mode is at M5 (wait 5 minutes and check the situation of the trend).
Those speeds can be combined freely. We want the bot to make money for you, when it is within your defined box. If the price is trending and breaking out we want the bot "to not open a new wrong position" during the trend since it is a real risk.
Furthermore you see the "black pricing marker" in the picture. The one in our example is at 1,936.01 USD while trading XAUUSD. You can see that the marker is still in the blue part of the box, but it is not in the middle in between the two red markers.
So now, we have created an algorithm that the bot should go with Fast Mode (in our example 1 Minute) and open a trade every time during Fast Mode. So normally it would open a trade any minute (without algo), but now we have given it a "Quality Control" in terms that it only opens a trade in Fast Mode when the black price marker is in between the two red markers. Or in other words exactly in the middle of your defined box.
That gives us a very high probability that we can close the trade with a Take-Profit, before the trend will leave the box.
When the trend occurs and the black pricing marker leaves the box, the system switches to Slow Mode and waits for the time that is set for Slow Mode before it checks for opening the next one.
The box moves with the stream. We can configure it however we like, we can set the box size, we can set the evaluation time backwards, so that we can optimize our complete trading behaviour based on the instruments we are trading and also based on the trends that are running throughout your trading day.
The quality of well placed positions is enhancend tremendously through the algorithm and the number of "orphants" (wrong placed positions) is shrinked to a minimum. This enhances the overall reliability of the trading engine enormous and gives you a mch better chance to be successfl during your trading.
This makes it possible to give you a self-regulating expert-advisor that is listening to the market and adjusts itself accordingly.
Here is how you can configure your box-environment:
Those are the necessary parameters to define your "box". You can set your evaluation time backwards, your box width, and your Fast Mode, as well as Slow Mode. This makes it possible to give you a self-regulating expert-advisor that is listening to the market and adjusts itself accordingly.
The newest version just got another piece better, since you can now even determine how wide you want to contruct your middle zone. Before it was fixed to a third of the box, now you can go even smaller to make it even more secure to fi the deal while the trading runs within the box.
Those are the necessary parameters to define your "box". You can set your evaluation time backwards, your box width, and your Fast Mode, as well as Slow Mode. This makes it possible to give you a self-regulating expert-advisor that is listening to the market and adjusts itself accordingly.
Here is the rest of the PowerScalper menu. Those are the things that can and have to be configured by the trader.
We do have setfiles therefore.
We do have setfiles therefore.
PowerScalper - Configuration Menu. Please note that the Config Menu might look different depending on the actual PowerScalper Version. PowerScalper is continiously developed further, so that subscribers always profit from the newest developments if they like.
All in all, these many setting options mean that very different trading strategies and scenarios can be implemented for the trader. This means that the bot can be used very flexibly as a trading engine.
The expert-advisor is in usage "as an engine" for trading on several different copytrading platforms as an Expert-Advisor to trade XAUUSD, GBPUSD or EURUSD with it, because this works excellently due to the great volatility of those instruments.
We provide several different "setfiles" for the trading bot that you can test, if those fulfill your needs. However, you can also build entirely different configurations and try them out. Those setfiles have worked well in our personal setups, but of course come without any liability. Please remember that you always trade under your personal responsibility.
In any case, we recommend you to "backtest" PowerScalper with your desired configuration before real trading with real money and furthermore to test this desired configuration over a longer period of time via one or more demo accounts in forward trading before you use real money accounts and trade with real money.
You can significantly improve your test results in backtesting by using the earview tick data suite by raising the model quality of your test models to 99%, especially "variable spreads" and the possibility of slipage bring you significantly improved test results compared to the pure integrated Metatrader backtest quality, which is at most 90% and thus has a lot of errors, especially in longer backtests. The biggest problem with standard MT4 backtests, in our opinion, is that the standard backtests all take place with static spread and "interpolated tick data" and therefore do not correspond to reality in any way. This is significantly improved by earview, because there the tests run with variable spread and much more tick data, so that the test results are, in our personal opinion, much closer to reality.
A backtest with 90% model quality is not really meaningful in our opinion, because a 10% error rate is much too high and will lead to completely different results in reality.
To find out more about the "earview Tick Data Suite" goto https://eareview.net/