PURE ALPHA is an intelligent Expert Advisor (EA), which scalps between the end of the New York and the beginning of the Asian Session. By scalping the night session, the aim is to achieve many small, rather overall market neutral profits.
The strategy is based on Price Action and a mathematical component using volatility. The order closure is individual, taking into account the current market conditions.
- Usage of Stop Loss and Take Profit, always!
- no martingale, no grid, no hedging!
- suitable for deposits starting at $50
- verified Real Myfxbook Performance Link (see the link in my profile or user guide, I am not allowed to post it here)
- 100% made in Germany
- stable results, tested since 2003
- News Filter
I recommend to use a low spread ECN Broker of your choice and a low latency VPS.
The EA has been tested with 99,9% using high quality Tick Data. Here is a [Guide] how to backtest correctly and a [Guide] how to purchase an Expert Advisor. If you want to achieve more professional trading conditions regarding Brokers and VPS, I can recommend this [Guide] How to Identify a True ECN Broker and a professional VPS
Pairs and timeframes
The EA works for all major currency pairs. The current settings are optimized for EURUSD, GBPUSD and USDCHF. If you want to trade the EA on different currency pairs, I recommend to optimize the parameters therefore or inquire for these.
- The timeframe to which the EA is attached to is not relevant, but for a better overview, I recommend to use PURE ALPHA in M5 or M15 timeframe.
If you want to use the built-in News Filter, please add URL: http://ec.forexprostools.com to the allowed URLs in the MT4 terminal settings (Tools -> Options -> Expert Advisors) and check "allow webrequest" for listed URL.
Unlike other EA developers, I will not change the price of PURE ALPHA anytime soon. I use this strategy on my private trading account as part of my regular income and I strongly want to prevent a distribution to the masses.
You should always consider that only about 3% of all FX traders are profitable in the long run.
Please feel free to contact me if you have any questions!
If you purchase the Expert Advisor (no rental), I will assist you with personal support and deliver you better, optimized set files according to your goals!
Explanation of Inputs
- lotsize fix: Enter the fix lotsize that you want to trade (used if use Risk% = false)
- max spread allowed: enter the maximum allowed spread when opening of a trade
- slippage: enter the maximum allowed slippage when opening a trade
- use Risk%: if true, then MoneyManagement is used
- Risk Dynamic: Percentage of Risk (if RIsk%=true)
- max lotsize: maximum tradable lotsize (when using Risk%)
- Magic number: you can change it if you want but it is only for tracking the EA and distinguishing the EA between other
- Filter Medium: First filter used for normal market conditions (default filter)
- Filter Fast: Filter for fast (very volatile) market conditions
- Take Profit: Coefficient for Take Profit
- Stop Loss: Coefficient for Stop Loss
- Newsfilter: if true, then EA stops trading before and after high and medium impact news
- Close already open trades: if true, trades that are open are closed if news appear. If false, then already open trades remain open but new already open trades are closed if selected news appear. If false, then already open trades remain open and only new trades will not be opened
- No operating in minutes before High Impact News: Time no trades are opened x minutes before High Impact News
- No operating in minutes after High Impact News: Time no trades are opened x minutes after High Impact News
- Medium Impact News: no trades during Medium Impact News
- No operating in minutes before Medium Impact News
- No operating in minutes before High Impact News
- Trade at weekly opening: If true, trades are opened at market opening on Sunday
- Start hour: Search for new trades at specified hour
- Start minute: Search for new trades at specified minutes
- End hour: Stop searching for new trades at specified hour
- End minute: Stop searching for new trades at specified minute
- start closing position hour: Start closing existing trades at specified hour
- start closing position minute: Start closing existing trades at specified minute
- end closing position hour: from this time no more open trades will be closed
- end closing position minute: from this time no more open trades will be closed