Introduction
The Wall Street Scalper MT5 is a scalping robot developed by Evgenii Aksenov, designed specifically for trading on the US Wall Street 30 index (US30). This Expert Advisor (EA) has been praised for its high win probability and excellent support from the author. However, as professional traders and developers from the EASY Trading Team, we believe it's essential to provide a balanced review, comparing it with one of our own highly successful robots, EASY Scalperology.Comparison with EASY Scalperology
When comparing the Wall Street Scalper MT5 to EASY Scalperology, several key differences and similarities emerge. Both systems are designed for scalping and utilize advanced algorithms for decision-making. However, EASY Scalperology is known for its superior profitability and advanced risk management features.EASY Scalperology Advantages:
- Broader range of trading instruments, including Forex pairs, indices, and cryptocurrencies.
- Dynamic stop-loss settings, trailing stops, and partial profit booking.
- Higher profitability due to advanced risk management.
- Comprehensive support and regular updates from the EASY Trading Team.
Wall Street Scalper MT5 Advantages:
- Specifically optimized for the US30 index.
- Simpler setup with fixed stop-loss and take-profit levels.
- Positive user feedback and high win probability.
While both robots emphasize the importance of using brokers with low spreads and recommend extensive testing on demo accounts, EASY Scalperology offers a more versatile and robust trading experience.
Pros and Cons
Wall Street Scalper MT5 Pros:- High win probability.
- Excellent support from the author.
- Simple and straightforward setup.
Wall Street Scalper MT5 Cons:
- Limited to the US30 index.
- Fixed risk management features.
- Potential issues with setup and communication with the developer.
EASY Scalperology Pros:
- Versatile trading across multiple instruments.
- Advanced risk management features.
- Higher profitability.
- Comprehensive support and updates.
EASY Scalperology Cons:
- More complex setup.
- Requires more active management.
Optimal Conditions for Use
The Wall Street Scalper MT5 works best under specific conditions:- Trading on the US30 index (US Wall Street 30).
- Using brokers with low spreads (less than 200 points).
- Testing on a demo account for at least 12 weeks before live trading.
- Avoiding high-impact news events using the built-in news filter.
These conditions ensure that the EA performs efficiently and minimizes potential risks.
Source Code of Wall Street Scalper MT5
We do not have access to the original source code of the Wall Street Scalper MT5 sold on MQL5. However, based on its description, we have created a sample code that mimics its functionality. This code is available for review and can be used as a starting point for further development. For any questions regarding the code, feel free to ask on our forum.
Code:
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