Introduction
Alright, so you're looking to squeeze some pips out of the GBPUSD pair with the H4 GBPUSD Trend Scalper. I get it, the idea of a robot doing your trading for you is tempting. But before you dive in, let's see if this thing is actually worth your time.
Installation and Setup
First things first, you need to install this trading bot on your MT5 platform. Oh, you don't know how to do that? Well, let me spell it out for you:
- Download the H4 GBPUSD Trend Scalper from here.
- Open your MT5 terminal and navigate to File -> Open Data Folder.
- Copy the downloaded file into the MQL5 -> Experts folder.
- Restart your MT5 terminal. The bot should now appear in the Navigator panel under Expert Advisors.
- Drag the bot onto your H4 GBPUSD chart and adjust the settings as per your preferences.
- Enable Algo Trading by clicking the corresponding button in the toolbar.
And there you go, the bot is now ready to do its magic, or lack thereof.
Experience Using H4 GBPUSD Trend Scalper
After installing and setting up this trading bot, I ran it on a demo account for a few weeks. The results were... let's just say, less than impressive. While the bot did manage to catch some trends, it wasn't exactly printing money. The drawdowns were noticeable, and the wins were inconsistent. So, if you're expecting a get-rich-quick scheme here, you might want to reconsider.
Tips for Improving Its Performance
Alright, so you're still committed to using this bot? Fine. Here are a few tips to squeeze some more juice out of it:
- Adjust the Timeframe: While the bot is optimized for the H4 timeframe, try experimenting with other timeframes like H1 or D1.
- Risk Management: Always set a stop-loss and a take-profit. Trust me, you'll thank me later.
- Optimize Settings: Use the MT5 strategy tester to backtest different settings and find the most profitable configuration.
- Diversify: Don't rely solely on this bot. Combine it with other strategies or bots to spread your risk.
Source Code of H4 GBPUSD Trend Scalper
We unfortunately do not have access to the original source code of the H4 GBPUSD Trend Scalper that's sold on MQL5. However, based on its description, we have created a similar version. If you're interested, feel free to visit easytradingforum.com and check it out. Note that this is just a replication based on the description and is not the original code.
Code:
You don't have permission to view the code content. Log in or register now.Download H4 GBPUSD Trend Scalper
If you're keen on trying out our version of the H4 GBPUSD Trend Scalper, you can download it here. If you have any questions or run into issues, don't hesitate to ask. Remember, this is an example code created by the EASY Trading Team and is based on the description of the original robot available on MQL5. We do not sell or distribute the original H4 GBPUSD Trend Scalper; we merely provide a similar solution based on available information.
So there you have it. Another trading bot dissected. Now let's see if this one actually makes you some money or leaves you cursing at your screen.