Orion Scalper EA

The Orion Scalper EA is a forex trading robot designed to execute scalping strategies in the forex market. Developed for use with the MetaTrader 4 (MT4) platform, the EA is optimized for lower timeframes, making it ideal for traders who prefer to trade frequently.

In this comprehensive article, we’ll review the Orion Scalper EA’s features, strategy, and settings. By the end of this review, you’ll have a better understanding of whether the Orion Scalper EA is a good fit for your trading strategy.

Orion Scalper EA Strategy

The Orion Scalper EA is an automated trading robot designed to scalp the forex market. It uses moving averages and Bollinger bands to analyze the market in real-time and identify short-term trends. The EA enters trades based on the trend direction and exits trades when the profit target is reached or the stop loss is hit.

Orion Scalper EA
Orion Scalper EA

Orion Scalper EA is developed for the MetaTrader 4 platform and works best for low-spread currency pairs such as EUR/USD and GBP/USD on lower time frames such as M5 and M15. It is worth considering for traders who want to scalp the Forex market with low risk and are comfortable using an automated trading robot.

Orion Scalper EA Activity
Orion Scalper EA Activity

The Orion Scalper EA uses a low-risk trend scalping strategy to minimize loss and also includes a trailing stop to protect against slippage. Trend scalping is a trading strategy that involves making multiple trades in the direction of the prevailing trend within a short period. This strategy also carries risks and requires careful risk management to minimize potential losses.

However, it will require some experimentation to optimize performance. It also does not perform well during sudden market changes and news events, which can lead to losses. Traders should be cautious when using the EA and test it on a demo account before running it on a live trading account.

Orion Scalper EA Features

  • Trend scalping robot
  • Works best for low-spread currency pairs (EUR/USD, GBP/USD, etc.)
  • Uses moving averages and a bands system for trade entry
  • Includes a trailing stop loss
  • Provides a variety of input parameters for optimization
  • Works on unlimited demo and live accounts
  • Can trade multiple currency pairs simultaneously
  • Includes a reverse system option for reversing trade direction
  • Supports both buy and sell trades

Orion Scalper EA Settings

  • Take Profit Percent: This sets the percentage of profit that the EA will take on each trade.
  • Magic Buy/Sell: This assigns a unique number to each trade so that the EA can identify and manage it.
  • Distance: This sets the distance between the current market price and the trade entry level.
  • Delta Limit Orders: This sets the maximum number of orders that can be placed at any given time.
  • Period: This sets the timeframe that the EA will use for analysis.
  • Method: This sets the type of moving average that the EA will use.
  • Shift: This sets the number of bars to shift the moving average.
  • Price: This sets the price that the EA will use for analysis.
  • MA Period: This sets the period of the moving average.
  • MA Method: This sets the method that the EA will use to calculate the moving average.
  • MA Price: This sets the price that the EA will use for the moving average calculation.
  • Bands Period: This sets the period for the band system that the EA will use.
  • Use Trailing Stop: This sets whether or not the EA will use a trailing stop.
  • Trailing Step: This sets the distance between the current market price and the trailing stop level.
  • Stop Loss: This sets the level at which the EA will close a losing trade to limit losses.
  • Take Profit: This sets the level at which the EA will close a winning trade to take profits.
  • Max. Orders: This sets the maximum number of trades that the EA can have open at any given time.
  • Slippage: This sets the maximum amount of slippage that the EA will accept.
  • Reverse the System: This sets whether or not the EA will reverse the trade direction when a signal is generated in the opposite direction.

Orion Scalper EA Summary

The Orion Scalper EA is an automated trading system that specializes in scalping the forex market. It is designed to operate exclusively on the MetaTrader 4 platform and is tailored to lower time frames and low-spread major currency pairs. One of the strengths of the Orion Scalper EA is its ability to protect against slippage, a common problem in fast-moving markets. It uses advanced algorithms to execute trades quickly.

However, it is essential to note that sudden market changes and news events can negatively affect the performance of the EA. The market can be unpredictable, and even the best trading strategies can fail during volatile market conditions. As such, it is crucial to test the Orion Scalper EA on a demo account and apply good risk management settings before using it on a live account.

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