Index Scalper Pro is aimed at beginner and professional traders and works on various stock indices. The algorithm is available at the MQL 5 marketplace for an asking price of $799. The developer states that traders can use it on both ECN and PRO accounts at the H1 time frame. To cover all the benefits and demerits of the system, we will review it in our article and analyze the performance.
Is investing in Index Scalper Pro a good decision?
Due to risky averaging strategies, the Index Scalper Pro can cause a high drawdown on the account. This can happen, especially when the market is trending significantly in one direction.
Evgenii Aksenov is the author of the EA. He resides in Russia and has a total rating of 5 for 784 reviews. The developer has 43 products published on the MQL 5 marketplace and has 24 subscribers for his services. MQL 5 website dictates that the author has a total trading experience of 3 years. There are no certificates available that could verify this.
The robot comes with the following main features:
It can work with a minimum deposit of $100
Traders can use it on an ECN or PRO account
The algorithm can trade on different indices
It trades with a built-in stop loss and take profit
To install the EA, use the following steps:
Purchase the system from the developer at the MQL 5 marketplace
Login to your MT4/5 account at the platform and download the robot
Attach the EA to charts to start trading
The developer states that the EA trades on DE30, DAX30, DE30Cash GER30, DE40, DAX40, DE40Cash, GER40, and US30 at the H1 chart. It requires a minimum deposit of $100 and has a built-in stop loss and take profit.
From the history of the MQL 5 records, we can observe averaging strategies with an average trade duration of 4 hours. The exit points are virtual, and the trades are mostly placed on DE 40.
The robot is available for an asking price of $799. There are also options to rent it for 3 months at $499. There is no money-back guarantee available as per the rules of the MQL 5 marketplace.
Backtesting results are available for unknown assets and time frames where the relative drawdown was around 2.86%.
The winning rate was 63.7%, with a profit factor of about 2.34. The test was done with a starting balance of $1000, where the robot tanked an average profit of $4960888.
There were 53945 trades in total in which the best trade was $23097.42, while the worst one was -$3472.71.
Verified trading records are available on MQL 5. We have a performance from January 07 2022, till the current date. The system made an average monthly gain of 13% during the period, with a drawdown of 21.6%.
The winning rate stood at 65%, with a profit factor of 1.22. The best trade was $56.97, while the worst was -$26.57 in 1060 trades.
General customer reviews are available on the MQL 5 marketplace, which gives the robot a total rating of 5 for five testimonials. One of the investors states that they are backtesting the algorithm and are looking forward to using the robot in the future.
Index Scalper Pro uses risky averaging strategies to trade the markets. The backtesting records come with no proper detailed statement, and the asking price of the EA is quite high.