Betelgeuse – Free Scalping Expert Advisor
Metatrader 4 (MT4) Expert Advisor (EA)
Betelgeuse EA is a free scalping expert advisor based on the advanced algorithm of our Brillante EA. While the Stop Loss is fixed by the user, its Take Profit can vary depending on the current market conditions. It can divide each order and close only a part of it, leaving the other part to make more profits. This process can be repeated automatically. Therefore, this EA can be a scalper but it also can be much more. It is tested on GBPUSD. However, it supports all currency pairs.
- Easy to set up
- Easy to supervise
- Advanced Money Management System
- Configurable input parameters
- No requirements for the minimum account size
Betelgeuse Expert Advisor supports all currency pairs but only on the 15-minute time frame. Be advised that if you select different time frame it’s possible to open incorrect trades. However, it’s recommended to use it on major currency pairs with low-spread accounts. The purchase of this product contain BetelgeuseEA.ex4 and Installation Guide. In order to make faster back test and adjust the parameters, in Strategy Tester select “Open prices only” and 1-minute time frame. However, if you want to do the most precise back test you should select “Every tick” method and choose 15-minute time frame.
Basic strategy uses well known PSAR Indicator to filter signals. Customer can use fixed lots setting or the advanced Automatic Money Management system. This scalping expert advisor has Trade-hours filter called “Do Not Treade Hours”. Magic Seed is a way to automatically compute the Magic number. When this EA is used with one magic seed on different currencies it will assign to every pair unique Magic number.
This product is free for download and this version will expire at the end of the year. Therefore, you cannot use its built-in Hedging function, Maximum trades function, Close on Opposite Signal function, Trailing Stops and Break Even settings. If you like this EA and you want these and other functions unlocked, please contact us and we will make personal quote.
Betelgeuse is compatible with all Metatrader 4 brokers, as well as with brokers that use ECN-type order fulfillment. This Scalping Expert Advisor automatically recognizes whether your broker offers four- or five-digit quotes. You don’t need to change any settings. If your broker offers five-digit quotes, you don’t have to multiply Take Profit and Stop Loss values by 10. This EA is not using any arbitrage and martingale strategies. It protects your profits with recovery factor.
Input parameters are divided in 4 categories. These are recommended but not mandatory parameters for GBPUSD. It’s crucial to adjust “Do not trade hours” because every broker is different. To do so you should set all of them to 25 and then optimize one by one with values from 0 to 25 (with step 1).
Betelgeuse Expert Advisor with fixed lots = 0.1