Parrot Scalper EA

Parrot Scalper
Parrot Scalper

The Parrot Scalper EA is an automated trading system designed to execute scalp trades in the Forex market. Its trading strategy involves a combination of technical indicators such as Relative Strength Index (RSI) and various moving averages (Simple, Exponential, and Linear Weighted). However, its key feature lies in its use of price action analysis, which involves identifying patterns and trends in the market’s price movements.

Parrot Scalper EA Strategy

The Parrot Scalper EA integrates money management techniques. It tries this strategy by utilizing stop-loss and take-profit orders, trailing stops, and lot-sizing algorithms.

The Parrot Scalper EA’s trading strategy utilizes several technical indicators, including the Relative Strength Index (RSI) and different types of moving averages (Simple, Exponential, and Linear Weighted).

The RSI is a momentum oscillator that measures the strength and speed of the market’s current trend. It is used in the Parrot Scalper EA strategy to identify overbought and oversold conditions in the market, which can help the EA determine the entry and exit points for trades.

Moving averages, on the other hand, are used to smooth out price data over a specific period, making it easier to identify trends and potential changes in the market’s direction. The Parrot Scalper EA strategy uses a combination of Simple, Exponential, and Linear Weighted moving averages to help determine the market’s overall trend and identify potential trades.

The Simple Moving Average (SMA) gives equal weight to all prices within a specified period, while the Exponential Moving Average (EMA) places more weight on recent prices, making it responsive to changes in the market’s direction. The Linear Weighted Moving Average (LWMA) places the weight on the most recent prices, making it the responsive of the three moving averages.

In combination, the RSI and various moving averages used in the Parrot Scalper EA’s strategy help the EA analyze market trends, identify trades, and determine the entry and exit points for those trades.

Parrot Scalper EA Features

  • The Parrot Scalper EA is ready to use without any configuration required, making it easy for traders to get started with minimal setup time.
  • It features a custom comment function for each trade, allowing traders to add notes or comments to their trades for organization and analysis.
  • The EA is compatible with any broker, providing traders to use their preferred broker.
  • It is designed to work with three, four, and five-digit quotes, ensuring that traders can use it with different currency pairs across various trading platforms.
  • The Parrot Scalper EA utilizes fixed stop-loss on each trade.
  • The Parrot Scalper EA is optimized to trade on specific currency pairs, including EURUSD, USDJPY, AUDUSD, AUDCAD, and NZDUSD.
  • The EA operates on a M15 timeframe, which means it executes trades based on 15-minute intervals, allowing for quick and frequent trades.
  • It employs a scalping strategy, which focuses on capturing small price movements.

Parrot Scalper EA Settings


  • MONEY_MANAGEMENT                                                 true
  • Risk to use auto lot                                                           1.0
  • Basic Lot                                                                             0.01


  • STOP_LOSS                                                                           1
  • TAKE PROFIT                                                                       20
  • MAX_SPREAD_OPEN                                                         30

Parrot Scalper EA Summary

Overall, the Parrot Scalper EA is a forex robot utilizing a usage of combination of various price action indicators. The EA incorporates probabilistic analysis to assess the probability of trade. The Parrot Scalper EA is equipped with advanced money management techniques that utilize stop-loss and take-profit orders, trailing stops, and lot-sizing algorithms.

It is essential to note that while the Parrot Scalper EA can be a useful tool for traders, there is no guarantee of profitability, and traders should always use caution and risk management strategies when trading. Additionally, traders are advised to test the forex EA on a demo account before using it on a live account to familiarize themselves with its features and performance.

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