Reindeer Scalper Pro EA V1.10 MT4

Let’s break down the valuable information about the Reindeer Scalper Pro EA V1.10 

Overview

• Reindeer Scalper Pro EA V1.10 is an automated trading tool designed for the MetaTrader 4 (MT4) platform.
• It operates based on a predefined strategy, executing trades on your behalf.

Key Features

• Minimum Deposit: To get started with the Reindeer Scalper Pro EA, you’ll need a minimum account balance of $100 USD.
• Timeframe: The EA works best on the H1 (1-hour) timeframe.
• Supported Currencies: It is recommended to run the EA on the following currency pairs:
  • EURUSD
  • GBPUSD
  • XAUDUSD

Strategy

The Reindeer Scalper Pro EA employs a scalping strategy, aiming to profit from short-term price fluctuations. Here’s how it takes trades:

1. RSI Indicator: The EA uses the Relative Strength Index (RSI) to identify overbought and oversold conditions.
   • Rsi Lower Level: Defines the RSI level for entry when it’s considered oversold.
   • Rsi Upper Level: Defines the RSI level for entry when it’s considered overbought.
   • Rsi Periods: Specifies the number of periods used for RSI calculations.
   • Rsi Applied Price: Determines which price (open, close, high, or low) the RSI considers.
   • Rsi Timeframe: Sets the timeframe for RSI calculations.
2. ATR (Average True Range) Indicator: The EA also uses ATR to gauge market volatility.
   • Fast ATR Periods: Determines the number of periods for the fast ATR calculation.
   • Slow ATR Periods: Specifies the number of periods for the slow ATR calculation.
   • Atr Timeframe: Sets the timeframe for ATR calculations.

1. Trading Hours:
   • By default, the EA follows recommended trading hours. However, you can customize these:
     • Enable Fixed Trading Hour: If true, use your specified trading hours.
     • Fixed Start Hour and Fixed Start Minute: Set the start time.
     • Fixed Stop Hour and Fixed Stop Minute: Set the stop time.
2. Risk Management:
   • The EA calculates lot size based on risk:
     • Lot: Specify a fixed lot size (if autolot is disabled).
     • Autolot: Enable autolot calculation based on risk percentage.
     • Risk: Set the risk percentage per trade.
3. Additional Settings:
   • Take Profit and Stop Loss: Define profit and loss levels.
   • Trailing Stop: Enable trailing stop functionality.
   • Start Only in Profit: Start trading only if the stop loss is in profit.
   • Bars to Close: Close trades after a fixed number of bars.
   • Recovery Mode: Enable recovery mode for faster loss recovery (high risk).
   • Magic Number: Unique identifier for EA orders.