Gold Butterfly Scalper Pro - mix of trend following and counter trend system
Gold Butterfly Scalper Pro EA is a profitable combination of trend following and counter trend systems with reasonable risk and without the use of dangerous trading algorithms such as arbitrage, grid, martingale. But the EA is limited in choosing a trading asset only by the XAUUSD (Gold) pair - these are the developer's recommendations. From which follows the name of this bot.
Сharacteristics of the Gold Butterfly Scalper Pro EA
- Platform: Metatrader4
- EA version: 1.0
- Currency pairs: XAUUSD (GOLD)
- Trading Time: Around the clock
- Timeframe: M15
- Recommended broker: Roboforex, XM, Forex4you
Trading algorithm of the EA
According to the developer, this Gold Butterfly Scalper Pro is looking for the main trend, enters the market based on volatility and an artificial intelligence algorithm (oh, this artificial intelligence, it is everywhere) to predict the likely future trend. All trades are covered by Stop Loss and Take Profit in a ratio of 1: 1 (can be changed in the settings).
I could not find information about this robot either on MyFXBook or on FXBlue, except for one from the well-known Russian forum of traders:
But here it is too early to draw any conclusions, only a few months have passed since the start. It can only be seen that the EA does not trade often.
Backtesting was performed for the time period 2003.05.05 - 2021.01.18
Please note that backtests are performed with a modeling quality of 99.0% thanks to a wonderful software called Tick Data Suite. Today this is the only possible and fastest way to achieve 99% quality of modeling in MT4.
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As you can see, the EA is successfully passing the 18-year backtest. At the same time, the maximum drawdown does not exceed 23% at Risk = 7 (but at Risk = 5, the maximum drawdown was 38.69%).
Based on testing, I can recommend a minimum deposit of 1000 USD or 1000 USD cents with a fixed lot or with a small risk up to 3.
The robot does not make trades often, so do not worry if the Golden Butterfly does not open a single position within a few days. For a better idea of the trading style of this Expert Advisor, you can watch this video:
All settings are optimized and can be applied as they are by default. A significant impact on the work of the adviser is only the size of the lot and Autolot = true or false.
- Lot: lot amount with autolot disabled
- Autolot: Enable autolot or disable it
- Risk: risk for autolot calculation
- Magic Number: id for identify Ea orders
- Spread Allowed: spread limit, over no trade will be open
- Enable ma: enable the ma trend filter
- ma timeframe: timeframe for ma indicator
- ma periods: periods for ma indicator
- ma price: price for ma indicator
- trading days, if true, enable this day for trading orders
- Take Profit: take profit for orders
- Stop Loss: stop loss for orders
- Trade Comment: comment for a trade
- Enable Buy: Enable Buy Trade
- Enable Sell: Enable Sell Trade
- Enable Fixed Trading Hour: if true, change from recommended trading hours to your trading hours
- Fixed Start Hour: hour for start trading
- Fixed Start Minute: minute for start
- Fixed Stop Hour: hour for stop trading
- Fixed Stop Minute: minute for stop
- Enable Bars to Close: Close trades after a fixed number of bars
- Bars to Close: number of bars for close a trade
- Recovery mode: enable recovery mode, so the Ea try to recovery fast the loss
- Recovery Factor: lot*this amount for recovery (high risk involves for recovery mode)
- Enable Trailing Stop: Enable Trailing Stop
- Start only in Profit: Start only if Stop loss is in Profit
- Trailing Stop in Point: Trailing Stop in Point
- Trailing Step in Point: Trailing Step in Point
- Change Chart Color: Change Chart Color in Scalper Pro Colors
- Show Panel: Show trading panel of the EA
- Show Error: Show error messages if something is wrong
In conclusion, I can say that Gold Butterfly Scalper Pro EA can be considered as a good addition to your trading portfolio. But don't expect lightning profits from it - this is a long-term advisor. Therefore, be sure to install it on a Free VPS server for a stable and uninterrupted network connection.
This is important without this the EA will not work: EA has a license protection bypass library (msimg32.dll), which must be copied to the root folder of the terminal, usually on disk C. As shown in the screenshot:
Perhaps your PC's antivirus will try to delete this file, mistaking it for a virus. But do not be alarmed - it is safe and does not threaten the protection of your computer. Just add the msimg32.dll file to the exceptions for your antivirus.
Also, the archive with the files of the advisor is password protected for safe transmission over the network. Password ➜ FXProSystems.com
In the archive Gold_Butterfly_Scalper_Pro.rar (5.63 Mb) Password - FXProSystems.com:
- Gold_Butterfly Scalper Pro Full_fix.ex4
- dll file READ ME.png
- READ ME copy msimg32.dll to root folder.txt
Free Download Gold Butterfly Scalper Pro EA