PipHarvester MT4 Scalping Robot

An MT4 scalping robot called PipHarvester EA makes trades using trend detection techniques and candlestick patterns. This trading strategy is designed to trade a variety of assets, including Indices, Metals, and Currencies. This approach, which was created with both inexperienced and seasoned traders in mind, uses a sophisticated combination of technical analysis and risk management strategies to reduce risks and maximize profits.

The first step in the MT4 scalping robot strategy is to look for specific candlestick pattern formations, which usually indicate the end of a trend. Understanding these patterns is essential because they frequently signal the beginning of new trends, giving traders the chance to enter or exit positions before the market reversals. The strategy uses trend detection techniques to confirm the possibility of a trend reversal once a potential pattern has been identified, increasing the likelihood of profitable trades.

An integral component of the PipHarvester EA is its focus on money management. It uses a stop loss and take profit in every trade, and it also employs a trailing stop loss, which is a dynamic form of stop loss that moves with the market price and locks in profits while protecting from significant losses. Moreover, it seems to be using a grid system, which involves placing a series of buy or sell orders when the first trade goes negative. While the method can potentially enhance profits during sideways and trending markets, it poses a significant risk of substantial drawdowns or even account blow-ups if the account balance is insufficient. Traders are advised to be cautious and fully understand the implications of using such methods.

Recommendations

• Minimum account balance of 500$.
• Set files are given for the best working pairs.
• Set File 1 – XBRUSD, XTIUSD, USDCHF, USDCAD, NETH25, XAGEUR, EURCHF, GBPJPY, XAGUSD
• Set File 2 – USDCHF, EURCAD, CHFJPY, NZDJPY, NZDCAD, EURNZD, AUDUSD, EURJPY, GER40, EURAUD, GBPCHF, AUDCHF, CADJPY, USDJPY, AUDJPY, AUDNZD, USDCAD, EURGBP, and NAS100.
• It works best on M1 and M5. (Work on any TimeFrame)
• This free forex EA should be run 24/5 on a VPS (Reliable and Trusted FOREX VPS – FXVM).
• low spread ECN account is also advised (Find the Perfect Broker For You Here).