CAP Prime Scalper EA can be found within the experts’ section of the MQL5 marketplace. It was first uploaded on the 15th of August 2016 by its creator Mohammad Ali, it has received a number of updates, the most recent updates were on the 28th of December 2019 and it is currently at version 7.0.
CAP Prime Scalper EA is an expert advisor that can be used with the MetaTrader 4 trading platform. Its main purpose is to detect key breakout signals, it will then use these signals to create trades and will cut the profits of the move while minimizing losses.
The EA will automatically analyze the market volumes and volatilities and will follow strong supply and demand movements. It asl has the option of a trailing stop as well as the ability to stop trading during news events to avoid slippage and increased spreads.
Some key advantages to using the CAP Prime Scalper EA:
- Fully automated trading 24/5.
- No need for a large initial deposit.
- No Martingale, No Grid.
- Always uses Stop Loss to protect capital.
- A position trailing stop is used.
- Both a fixed lot and a free margin percentage are used.
- Ability to set time limitations for the EA operation.
There are also a number of parameters and settings that can be altered, these include things like lot types, equity percent to use, to use fixed lots, which percentage of margin to use, take profit options, initial stop losses, trailing stop losses, hidden stop losses, ATR period, signal frequency, break-even settings, time configurations, and many more.
The expert advisor will currently cost you $99 to purchase, this will give you up to 10 activations without any other limitations. There is not an option to rent this expert advisor. There is a free version available, however, the limitations are not stated on the site and it may only be used within the strategy tester of the MetaTrader 4 trading platform.
There are 16 user reviews which have given the indicator an overall rating of 3.5 out of 5.
“EA’s performance is very successful. I’m on a Tickmill account. There was no problem. Customer support is very nice. He answers every question instantly. I will process it in another real account without waiting too much. I believe that my plans for myself will come true.” – A 5-star review.
“This EA works very well, I like how the EA detected a scalping situation and more importantly how he ends the trade in TakeProfit.” – A 5-star review.
“Unfortunately not profitable for me” – A 1-star review.
There is a mix of positive and negative reviews, the majority of the negative reviews did not leave much information but the ones that did are referring to the fact that the EA has been giving them negative results rather than profits, the positive reviews are all saying the opposite, so it seems to be based on how you set up the EA. In terms of comments the developer was replying to most of them but has not replied to the most recent comments so we are not sure if it is still being supported, we would suggest sending any comments or queries you have to the developer, this way you can make sure that he is still supporting the EA before you make a purchase.
This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17724