Introduction
Welcome to the no-nonsense guide on using the trading robot, Wave Scalper EA. If you're here, it's probably because you've heard mixed reviews and want the cold, hard facts. With an average rating of 2.2 and comments ranging from не ахти to Funktioniert mit M5 Chart, it's clear this EA isn't universally loved. But hey, we at EASY Trading Team love a good challenge. So, let's dive in and see what this robot is really made of.
Installation and Setup
Let's cut to the chase. Installing and setting up Wave Scalper EA is a fairly straightforward process, but let’s make sure you get it right the first time.
- Step 1: Download the Wave Scalper EA file from Forex Robot Easy.
- Step 2: Open your MetaTrader 5 platform and choose File > Open Data Folder.
- Step 3: Navigate to the “MQL5” folder and then to “Experts.” Copy the downloaded Wave Scalper EA file into this directory.
- Step 4: Restart MetaTrader 5. You should see Wave Scalper EA in the Navigator window under Expert Advisors.
- Step 5: Attach Wave Scalper EA to your chosen chart (preferably M5 as suggested) by dragging it from the Navigator window onto the chart.
Once you've got it on the chart, a settings window will pop up. Here’s the default setup we recommend to maximize efficiency:
- Magic Number: Unique identifier for the EA's trades.
- Risk Management: Set to 1-2% of your account balance.
- Hidden Stop Loss: Although it’s set to 500 by default, users like bardon1 suggest 200 or 100.
- Timeframe: M5 for optimal results.
Usage Experience
Ah, the fun part. Using Wave Scalper EA can be a mixed bag. Some users, like 47rxkfn, think it's a плохой советник, while others are cautiously optimistic. Here’s what we found:
Pros:
- Straightforward installation and setup.
- Compatible with M5 timeframes.
- Offers customizable risk management.
Cons:
- Mixed user reviews suggest inconsistent performance.
- Requires regular monitoring.
- Not beginner-friendly.
In my tests, the EA performed decently but not spectacularly. Losses were manageable when sticking to conservative risk management, but don't expect miracles.
Tips for Improvement
To squeeze the most out of Wave Scalper EA, here are some tips that might help:
- Adjust Hidden Stop Loss: Users like bardon1 suggest lowering the hidden stop loss from 500 to 200 or 100. This can help minimize losses.
- Manual Intervention: Don't be afraid to intervene manually if a position goes terribly wrong. Robots aren’t always smarter than humans.
- Backtest Extensively: Always backtest in a demo account before going live. Pay attention to different market conditions.
- Optimize Settings: Experiment with different risk settings and hidden stop losses to find what works best for your trading style.
Source Code of Wave Scalper EA
Now, let's address the elephant in the room. The original source code for Wave Scalper EA isn’t available to the public. What we do have is a description from the MQL5 marketplace.
As an alternative, the team at EASY Trading Team has created a basic example of what the code could look like based on the description. If you’re curious about the technical details or want to tweak the EA yourself, feel free to ask questions or visit easytradingforum.com.
Code:
You don't have permission to view the code content. Log in or register now.Download Wave Scalper EA from Forex Robot Easy
Ready to give it a go? Download Wave Scalper EA from Forex Robot Easy and start your own trading experiment. Remember, trading involves risk, so only invest what you’re prepared to lose. If you have any questions or need further guidance, our team at EASY Trading Team is always here to help.
Happy trading, or at least, less frustrating trading!