Scalp Pro Indicator is a combination of top Forex Indicators promising steady profits and a winning rate of 65%. This FX trading tool helps gain a competitive edge by identifying small trends in shorter time frames. The vendor claims that this system can help you trade like a professional. This MT4 tool is developed and promoted by SinryAdvice, a company that creates EAs and indicators for the MT4 platform. The team comprises 18 employees including developers and FX traders and is based in Malaysia. We could not find a location address or phone number for the company. An email address, a live chat, and an Instagram link are the main support methods offered by the vendor.
Features
The vendor does not reveal much info on the features, recommendations, and settings for this product. From the info provided, we find this indicator generates signals based on the price action and provides daily updates of the support and resistance levels, the buy and sell points, and uses the 15-minute timeframe. As per the vendor info, on purchasing the indicator you get three MA indicators that are pre-installed in the MT4 platform. The vendor claims that although the pips gained are small, the accuracy is high. All currency pairs can be used for this indicator.
How to start trading with Scalp Pro Indicator
You can purchase this system for $39. This price is a discounted rate from the earlier price of $60. Compared to other competitor systems in the market, the price is very cheap. However, the vendor does not provide any other info on the features provided with the package. No recommendations are provided on the balance, leverage, and other setting details. The vendor provides info on the two files with the Moving average indicator and recommendations on the right trade entries and exits. Risk management is stressed upon by the vendor citing that it is important for gaining big profits.
Backtests
No backtests are present for this MT4 tool which is disappointing. Strategy tester reports give a better insight into the performance and approach used and give traders a better understanding of the profits they can make with the system. Even if the results are not predictive of future performance, traders find them a useful analytic tool. The absence makes us suspect the reliability of this indicator.
Trading Results of Scalp Pro Indicator
A real USD account with the track record verified by the myfxbook site is shown by the vendor. However, the link appears to be broken so we are unable to find further info on the results. From the image that the vendor provides, we can see a total gain of 178.22% and an absolute gain of 69.47%. A drawdown of 6.72% is present with the daily and monthly profits being 1.24% and 44.64%, respectively.
The absence of the account on the myfxbook site indicates it has been closed, which may be due to the poor performance of the system. The withdrawal of $2000 and the difference between the total and absolute gain value also indicate the account is cutting down its losses. This does not bode well for the approach and performance of this system.
Customer reviews
We found 49 reviews for the company with an overall rating of 4/5. Here are a few of the recent feedback from users:
From the feedback, we can see that the performance is poor and another review indicates the products of the company can easily blow your account. It is clear that the development team has not done an effective job on the trading tools. The customer support also draws flak in the reviews.
Is Scalp Pro Indicator a viable option?
From our evaluation of this MT4 trading tool, we find that it is not a viable option for traders. Here are the main advantages and disadvantages that have led us to this conclusion.
Advantages
- Combination of scalper and MA
- Affordable price
Disadvantages
- No verified trading results
- Negative user reviews
- Poor customer support
Conclusion
Scalp Pro Indicator is an MT4 tool that claims to provide accurate entries and exits and high profits. Our evaluation of the system reveals that the claims are false. The info on the trading approach is insufficient and the lack of backtests further makes it difficult to know about the strategy and performance. Furthermore, the lack of verified trading results is a big shortcoming in this product. While the company has verified results for its other products, the lack of results for this indicator raises a red flag. The negative user reviews further confirm our suspicion that this is not a trustworthy indicator.
