Home Forex Service Review MAFiA Scalper MT4 Review

MAFiA Scalper MT4 Review

70
0

Originally made for the MetaTrader 5 platform, but soon after the updates this Expert Advisor and a manual trading tool are also released for the MetaTrader 4 platform too. Both products are listed on the MQL5 market in late February and March 2020. MAFiA Scalper is a mix of strategies and indicators designed for scalping although no timeframe or currency pairs are suggested. The developer, Andrey Dyachenko from Ukraine, has either just a publisher for another company products or he has invested a lot of time to develop a complex EA with many elements. Most of his 4 released products are related to Fractals method EA and tools, all are new.

Overview

This EA and its MT4 version are relatively expensive but have a lot of features. It is a complete trading system with several integrated Money Management, Risk Management, trading elements, and filters. MAFiA Scalper is specialized, the trader using this tool should be familiar with the indicators used and the logic of the strategy. Whatsmore, the EA requires a specific trading account and has a higher price. The latest version is 1.41 that brings several new features like the info screen, trade opening and closing alerts, ATR trailing stop calculation, and some additional infographics.

The Overview page of this EA is transparent about how the trading is executed ad what indicators are used. Still, it is not easy to replicate the system without the Fractals recognition module as well as other trading elements such as specific trade scaling-in method and Alligator trailing stop. The Alligator is a triple line (Moving Average) indicator by Bill Williams made as a solution for trend entry, following, sideways market marking and divergencies, although the latter is not used by this EA.

MAFiA Scalper uses Fractals patterns for trade entries in sync with the Alligator. Once the trade is open, the Alligator lines will provide if the trend will continue with its 3 lines with different periods forming a stripe. This stripe is a ranging market zone signaling the trend is extinguished but also filters false pattern breakouts.

As the trend progresses, the Money Management module kicks in with additional trades. The base of this function is the Pyramid Principle or a ratio 5-4-3-2-1-1 according to trading sizes are defined. Scale-in trades are indicated by the Fractal pattern and diminish in size following the Pyramid ratio. The logic behind this is that long trends are fewer and a reversal could be more imminent as the trend gets longer, putting the weight on the first batch of scaled-in trades. Trailing is engaged using two methods, along the Alligator lines or by the number of bars passed, squeezing the trail distance as the trend continues. This behavior means the trades MAFiA Scalper males do not last long in terms of candles passed.

Stop Loss can be virtual or placed on the broker server, with the option to use the Breakeven movement. Trailing Stop also uses the ATR value in percentage to set the distance from the current price level, implying the adaptive nature of the EA to volatility. Sharp movements may not be an exit signal or an entry if there is such volatility in the market.

There are two modes On and Off in which it will operate as a fully automatic or as a manual trading system. In the On mode, opening, adding, and position measures are executed if the price is outside the blue Alligator line. However, MAFiA Scalper needs a “hedging account” as described by the seller, pointing a screenshot with the Binary.com broker which provides one. We are unsure if this EA is a sponsored or affiliated product, as we are not familiar with the peculiarities of a “hedge account” needed for the EA to work.

Traders will see a control panel on the chart that can ease the trading process if done manually. All of the functions are toggleable with buttons, such as the Breakeven, Buy, Sell, Virtual or Real Stop Loss, position size management and the Alligator colored lines switches. In the EA setting list, you will be able to control several aspects of the system. Stop Loss including the trailing method, Breakeven parameters, comments plotting, ATR distance, notifications, and other aspects of the system. Note that the EA does not have a performance chart presentation yet, either with a live signal on the MQL5 or as a screenshot.

Service Price

The price of MAFiA Scalper MT4 is $750, putting this product in the higher price range. Traders will have 8 activations after purchase. Renting is offered and traders may find this a better solution as the price is of less an issue. Rent for one month is just $25, for 3 is $69, 6 – $129, and $219 for one year. Considering that backtesting probably not possible right now, a demo is essential. Demo version has been downloaded 37 times to date showing mediocre interest by the community.

Conclusion

Some traders will certainly need this, on the other hand, the EA is also a manual trading system and in a way not fully automatic. After the Stop order is triggered, either by the trailing or normal, it will go into the Off mode and become just a signal generator. Therefore, the EA cannot be measure in a classical sense. Some could regard this as an easy way to evade responsibility by the EA performance. In the Overview page, a 58-minute video is attached presenting the EA in detail with some marketing elements.

Note that the EA is specialized and could not be classified as a pure scalper, reversal, pattern, or trend-following tool, it has elements from all. Whatsmore, the “hedging account” is needed, narrowing the target group of traders. MAFiA Scalper for MT5 has 1 review with a perfect score while this version has no reviews or comments yet.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47343

LEAVE A REPLY

Please enter your comment!
Please enter your name here