The Zee Scalper is a MetaTrader 4 automated trading system that utilizes a combination of technical indicators (megatrend, CCI, and swing zz) to identify and place trades in the forex market.
In this review, we will delve into the Zee Scalper’s strengths and weaknesses, its customizable settings, and how it operates on the MetaTrader 4 platform. We’ll also discuss risk management strategies and provide recommendations for demo testing the Zee Scalper before using it with real funds. So, let’s dive into our Zee Scalper review and see if this automated trading system could be a good fit for your trading goals.
Zee Scalper Strategy
The Zee Scalper is an automated trading system designed to place trades in the forex market using a combination of three technical indicators; the megatrend, CCI, and swing zz. The system is designed to work on the MetaTrader 4 platform and is ideal for traders who prefer short-term trading strategies.
The Zee Scalper strategy is tailored for scalping, a popular trading technique that seeks to capitalize on small market movements by entering and exiting trades quickly. It is optimized for use on the 5, 15, and 30-minute charts, which makes it ideal for day traders who prefer to trade the intraday market. The EA’s flexibility extends to its applicability to a wide range of major currency pairs, adding to its versatility and making it adaptable to changing market conditions.
One key feature of the Zee Scalper trading system is its use of three technical indicators to generate trading signals. The Megatrend indicator is a trend-following indicator that helps identify the direction of the trend. The CCI indicator measures the current price level relative to an average price level over a given period, providing information on whether an asset is overbought or oversold. The Swing ZZ indicator is a support and resistance indicator that helps to identify potential reversal points in the market. By combining these three indicators, the Zee Scalper system aims to identify and generate entry and exit points.
However, the weakness of the Zee Scalper EA is the use of the scalping method, as it may generate false signals or enter and exit trades prematurely, resulting in losses for the trader. Additionally, its overreliance on technical indicators can lead to false signals in certain market conditions. The system may also require constant updates to its settings and parameters to keep up with changing market conditions. This means that traders must have a thorough understanding of the system to optimize its performance. Therefore, traders should exercise caution and implement a comprehensive risk management plan to minimize potential losses.
Zee Scalper Features
- The Zee Scalper system is an automated trading system that executes trades automatically based on its trading algorithm.
- It uses three technical indicators, Megatrend, CCI, and Swing zz, to generate highly accurate trading signals.
- The EA is designed for scalping and is ideal for traders who prefer short-term trading strategies.
- It operates on the 5, 15, and 30-minute charts.
- The system can be used to trade any major currency pairs.
- Operates on the MetaTrader 4 platform.
Zee Scalper Settings
- Lot Size: Automatic or fixed lot size
- Maximum Number of Trades: Maximum number of open trades
- Trade Start Time: Start time for opening trades
- Trade End Time: End time for opening trades
- Comments: Field for adding comments to trades
- Magic Number: Unique identifier for trades
- Allow Opposite Trades: Enable/disable opening trades in opposite direction
- Maximum Spread: Maximum allowable spread
- Breakeven: Enable/disable breakeven function
- Take Profit: Distance from entry price to take profit
- Stop Loss: Distance from entry price to stop the trade
- UseMegatrend: Enable/disable Megatrend indicator for generating trade signals
- UseCCI: Enable/disable CCI indicator for generating trade signals
- UseSwing zz: Enable/disable Swing zz indicator for generating trade signals.
Zee Scalper Summary
The Zee Scalper is a MetaTrader 4 automated trading system that utilizes a combination of technical indicators (megatrend, CCI, and Swing zz) to identify and place trades on the 5, 15, and 30-minute charts of any major currency pair.
The EA’s strengths include its use of multiple indicators to place trades, and its applicability to a wide range of major currency pairs. However, its weakness lies in its use of scalping strategies, which can be risky in volatile markets.
It is recommended to demo-test the Zee Scalper before using it with real funds and to apply good risk management settings to reduce potential losses. This forex EA may be suitable for experienced traders who are comfortable with indicator and scalping strategies and understand the risks involved.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
