The EURUSD Forex Scalping Robot is designed to operate on the M1 timeframe (one-minute chart). It follows a scalping strategy, aiming to capture small price movements in the market. The free scalping bot has been optimized for EUR/USD, NZD/USD, AUD/CAD, AUD/NZD, EUR/CHF, EUR/GBP, GBP/AUD, NZD/CAD, and NZD/CHF currency pairs. This is the same forex scalping robot working on 9 different currency pairs. It uses a candlestick pattern-based entry system, relying on consecutive candlesticks for decision-making.
Here is a brief overview of the strategy behind the EURUSD forex scalping robot:
- Lot Size (Entry Volume):
- The default entry volume is set to 1 lot.
- Stop Loss and Take Profit Levels:
- Stop Loss: 100 pips (defined as 10 points in the code).
- Take Profit: 10 pips (defined as 1 point in the code).
- These levels are fixed and not adjusted dynamically during trading.
- Indicators Used:
- Candlestick Pattern: This forex scalping robot analyzes candlestick patterns, specifically looking for a sequence of 7 consecutive bullish or bearish candlesticks. This pattern is used to generate entry signals.
- Session Settings:
- The free scalping bot operates continuously, without time restrictions, covering all trading sessions.
- Additional Protections:
- Maximum Spread Protection: The EURUSD forex scalping robot checks that the current spread is within acceptable limits before opening a trade.
- Minimum Equity Protection: If the account equity falls below a predefined threshold, the robot will stop trading.
Check out our Free Expert Advisors Startup Guide before installing the forex scalping robot.
Disclaimer: This Forex Scalping Robot is for educational purposes and is free to download. Get the EURUSD Forex Scalping Robot and test it on a Demo account. Traders should regularly monitor the performance to ensure it aligns with expectations.
