Introduction
In this review, we will examine the News Scope EA PRO trading robot in detail. This EA has garnered mixed feedback from users, some praising its performance while others raising concerns about its viability on live accounts. We will compare it with one of the popular robots from the EASY series—specifically, EASY Scalperology. Additionally, we will discuss the pros and cons of both robots, highlight the optimal conditions for using News Scope EA PRO, and provide information regarding its source code.Comparison with EASY Scalperology
When comparing the News Scope EA PRO to the EASY Scalperology, several key differences become evident:EASY Scalperology:
- Consistency: EASY Scalperology has shown consistent performance across various brokers and market conditions.
- Broker Independence: Its performance is less dependent on specific brokers, making it a more versatile option.
- User-Friendly: The user interface is intuitive, allowing even beginners to set it up easily.
- Backtesting and Live Performance: Shows strong correlation between backtesting results and live performance.
News Scope EA PRO:
- Market Sensitivity: Performs exceptionally well during major news events.
- Broker Dependency: Requires a specific broker with low spreads and slippage during news times.
- Setup Complexity: Setting up the optimal parameters can be complicated for new users.
- Performance Variability: Significant differences between demo and live account performances as noted by user reviews.
Pros and Cons
News Scope EA PRO
- Pros:
- Highly effective during news events.
- Responsive author and good support.
- Customizable parameters for trading. - Cons:
- High dependency on the right broker.
- Inconsistent live performance due to spread variability.
- Complex initial setup.
EASY Scalperology
- Pros:
- Consistent performance across multiple brokers.
- Easy to set up and use.
- Reliable backtesting and live performance alignment. - Cons:
- May not capitalize on extreme volatility as effectively as news-oriented EAs.
Optimal Conditions for Using News Scope EA PRO
News Scope EA PRO works best during major economic news releases when market volatility is high. It is important to:- Use a broker with low spreads and minimal slippage.
- Ensure the broker supports high-speed order execution.
- Regularly monitor and adjust EA settings based on market conditions.
Conclusion
While News Scope EA PRO has its merits, especially during news events, it falls short in terms of consistency and ease of use compared to EASY Scalperology. For traders seeking a reliable and user-friendly option, EASY Scalperology is a more profitable and dependable choice. We encourage users to share their experiences and insights on our forum.Source Code News Scope EA PRO
The original source code for News Scope EA PRO is not available to the public. However, the EASY Trading Team has developed a code based on the description provided on the MQL5 website. If you have any questions about the code, feel free to ask on our forum. Note that our team does not sell the News Scope EA PRO but offers a custom-coded robot inspired by its description.
Code:
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