Intelligent Scalper PRO is located within the Experts section of the MQL5 marketplace. It was created by Botond Ratonyi and was first uploaded to the marketplace on the 16th of March 2020, it has not received any updates at the time of writing and so it is still at version 1.0.
Overview
Intelligent Scalper PRO is an expert advisor that was created for the MetaTrader 4 trading platform, its main purpose is to be consistently profitable and flexible when the market conditions re changing, it uses a complex combination of indicator chart patterns and data mining.
The EA is fully automated and does not need any manual action or intervention once it has been set up, it will sue a trailing stop and training take profits in order to make each trade risk free and to generate as many profits as possible. The EA may open up multiple trades at once with different parameters, it also has a volume upper limit so you can control the lot size sequence, it also has a count trade parameter so you can say how many trades are allowed to be open at any one time.
While it does not say, the EA is actually using the martingale strategy which is not a great sign to see. The martingale strategy means that when a trade has been made and the markets go against it, it will create another trade in the same direction as the first, but at a slightly larger lot size, if the markets continue against the trades, a third and fourth, and so on will be created, each at a larger size to the last in the hope that the markets revers. This causes the drawdown to grow exponentially and can be very dangerous for those without a huge account.
The default settings for the EA are on the EURUSD currency pair and on the H1 timeframe. It is also recommended that you have at least $100 for each 0.01 lots size that you use and that you have a VPS.
There are some parameters that come with the EA, but they have not been mentioned in the description, we can see people commenting about them but we are not sure exactly what they are.
Service Cost
The Intelligent Scalper PRO EA can be purchased from the marketplace for $30, this is a one-time payment that will allow you to use up to 5 activations of the EA, unlike many EAs on the MQL5 marketplace, there is no option to rent this one. A free demo version can be downloaded but it is restricted to only being usable with the strategy tester within the MT4 platform.
Conclusion
There are no user reviews or ratings for the EA so the overall rating is still unrated, there are a number of comments asking questions about the EA, the developer has been responding to them promptly and offering a lot of support, but the comments make it clear that the martingale strategy is taking places which is not a great sign. Before you make a purchase, we would suggest contacting the developer to make sure that the Ea will function how you need it to.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47337
