DAX Hero Scalper Pro is the professional version of the EA Dax Hero Scalper, which was previously offered on the mql5 website for free. It was created and launched in August of 2018 by the IT engineer/leisure trader Simone Gargano. The product was last updated to version 1.5 in February of 2019.
Overview
DAX Hero Scalper Pro is an Expert Advisor that uses an integrated time filter to avoid bad periods and to close open trades in other periods. Settings cover some basic parameters, like TP, SL, trailing stop, minimum and maximum lot size, whether trading should be allowed on Sunday, etc. It also offers a few parameters that allow one to place limitations on the EA, for example, the maximum spread that is allowed, max slippage allowed to open a new trade, the preferred money management method (fixed lot, lot by equity %, lot size by balance %), a specific timeframe for trading, and a few more options. Here are a couple of facts about the EA:
- Best used with H1 timeframe or higher
- Compatible with the impressive MetaTrader 4 platform
Described as being “simple”, the EA steers clear of riskier strategies such as Martingale or grid, while offering traders the ability to customize the aforementioned parameters. In addition, the professional version adds extra features, one of which ensures that TP and SL are accepted by the broker, as this was a previous issue, another changes the Magic Number to run multiple charts on the same timeframe or symbol, Breakeven moves the SL to the breakeven as soon as the trade is in profit, and etc.
Service Cost
Traders are only given the option to rent this product at a rate of $10 USD per month. Without the option to purchase the program outright, the cost would add up to $120 per year. In the product’s description, the author also provides a link to a similarly named DAX Hero Scalper, which was originally the free version of this product. Although it is still listed as being free in the description, it actually costs $10 USD to rent the other version for 3 months, which results in a price that is $80 cheaper per year. Backtesting is possible with a free demo account.
Conclusion
DAX Hero Scalper is a simple Expert Advisor that allows traders to place certain limitations on the way it trades so that the EA trades more cautiously. It has received 7 reviews and earned a 4-star rating based off of a couple of the following comments:
“Simple but powerful” -Cooper
“Great result at the strategy test.” -Ma
Others chose not to comment, so we don’t have much to go on, other than the decent rating. Before purchasing this professional version of the indicator, traders should compare the original DAX Hero Scalper, which follows the same concept with fewer features for a price that is $80 less per year. Of course, if you find the improvements to be necessary and worth the extra cost, then the professional version would be the best choice.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31117
