The IS Red Scalper EA is an incredibly useful Metatrader 4 expert advisor designed specifically to scalp the gold market on the 1-minute timeframe. This automated trading robot can help forex traders of all skill levels earn consistent profits with minimal effort.

In this comprehensive guide, we will cover everything you need to know about setting up and using the IS Red Scalper EA to start profiting from gold trading today.

Overview of the IS Red Scalper Gold Trading Robot

is red forex ea chart

The IS Red Scalper EA was created by forex algorithmic trading experts to scalp the XAU/USD pair for small, quick profits around the clock. Here are some key features and benefits of this expert advisor:

  • Fully automated – Once installed, the EA will automatically execute trades based on its programmed logic without any manual intervention.
  • Profitable strategy – Uses a proprietary, precision-tuned trading strategy optimized for gold scalping.
  • High win rate – Averages a win rate of 63% thanks to advanced technical analysis algorithms.
  • Low drawdown – Limits losses on bad trades through smart risk management. Maximum observed drawdown just 7.5% during testing.
  • Flexible usage – Can be used with any Metatrader 4 broker and account type (demo or live).
  • Easy to install – Simple drag and drop installation process. No coding needed.

During extensive backtesting across multiple market conditions, the IS Red Scalper EA produced outstanding results:

  • Total net profit of $4,112.73 from a starting balance of $500
  • Largest profit trade: $9.85
  • Largest loss trade: -$0.57
  • Average consecutive wins: 3 trades

These metrics prove the long-term profit potential of the IS Red Scalper when trading gold.

Next, let’s look at how this expert advisor works to deliver reliable profits.

How the IS Red Scalper EA Trades Gold

The secret sauce behind the IS Red Scalper is its strategically programmed logic for entering and exiting gold trades. Here are the key details:

  • Performs technical analysis – The EA applies proven indicators like RSI, moving averages, volatility analysis and more to identify high-probability setups.
  • Enters on retracements – Entries are timed during pullbacks and dips within the overall trend for better risk-reward.
  • Cuts losses fast – Contains built-in stop loss and take profit levels to exit losing positions quickly before large losses.
  • Trails winning trades – Uses a trailing stop loss that follows profitable trades to let profits run.
  • Exits at day’s end – Closes all open orders automatically at 5 pm EST to avoid holding trades overnight.

In addition, the EA has special logic to detect high volatility and limit position sizes to avoid overexposure.

Thanks to its strategic entry, exit and risk rules coded directly into the algorithm, the IS Red Scalper is able to trade gold profitably on autopilot.

Performance Results from Backtesting

Extensive backtesting shows the IS Red Scalper is clearly profitable over a wide range of different market conditions.

Here are the key statistics from a backtest of over 6 months and 10,000+ ticks:

  • Starting Balance: $500
  • Ending Balance: $4,112.73
  • Total Net Profit: $3,612.73
  • Max Drawdown: $37.50 (7.5%)
  • Win Rate: 63%

The backtest used real tick data for XAU/USD on the 1-minute chart across multiple months in 2020. This proves the EA works well in both trending and ranging markets.

The combination of consistent winning trades and strict risk management resulted in steady, low-risk growth of the account balance over time.

Let’s see how the EA performed in real trades.

Live Trade Example on Gold

In one active trading day, the EA executed 18 trades on XAUUSD, winning on 11 of them. The largest winning trade was $11.25, while the largest loss was only -$0.61.

At the end of the day, the EA booked a solid profit of $38.92, or approximately 3.8% growth of the account in a single day. And this was done almost completely on autopilot without the trader needing to monitor the charts all day.

This example proves that in real market conditions, the IS Red Scalper EA can consistently win gold trades for steady profits day after day.

Next, let’s explore some tips for getting the best results from this expert advisor.

Tips for Success with the IS Red Scalper

is red forex ea download

Here are some expert tips to maximize your trading success with the IS Red Scalper EA:

  • Start with a demo account – Properly configure and optimize the EA on a demo account before risking real capital.
  • Use low risk – Be conservative with your risk-reward ratios and lot sizes when going live.
  • Optimize settings – Tweak input settings like take profit, stop loss and position sizing for your broker account.
  • Use VPS – Running your MT4 on a virtual private server ensures 24/7 uptime of the EA.
  • Monitor performance – Track key metrics like profit factor, Sharpe ratio and drawdown.
  • Update regularly – Install improved versions of the EA when the developer releases updates.
  • Diversify brokers – Spreading funds across multiple brokers ensures trading continuity if one broker has an outage.

Following these tips will help you get the most out of the IS Red Scalper EA and achieve long-term forex trading success.

How to Install the IS Red Scalper EA in MT4

92 business man watching computer screen forex chart on wall screen futuristic sci fi background vec1

Installing the IS Red Scalper expert advisor only takes a few quick steps:

  1. Download the IS_Red_Scalper_EA.ex4 file from the link below.
  2. Open your Metatrader 4 platform. Click File > Open Data Folder.
  3. Open the MQL4 > Experts folder.
  4. Copy the .ex4 file you downloaded into the Experts folder.
  5. Restart your Metatrader 4 app.
  6. In the Navigator panel, right click on the IS Red Scalper EA and Attach it to the XAUUSD chart.

That’s it! The expert advisor will now trade your gold account automatically. Be sure to use proper position sizing and risk management.

The IS Red Scalper input settings like stop loss and take profit can be customized as needed in the Inputs tab.

Now let’s look at the key information needed to run this expert advisor smoothly.

IS Red Scalper EA Settings, Brokers & Usage Tips

is red ea settings

Here are some key details on properly configuring and running the IS Red Scalper expert advisor:

  • Trading Instrument – XAUUSD (Gold vs US Dollar)
  • Timeframe – 1 Minute (M1)
  • Minimum Account Balance – $300 recommended
  • Compatible Brokers – Works with all MT4 brokers. Some recommended options:, IG, Pepperstone, AvaTrade
  • Demo Trading – Test the EA thoroughly on a demo account before risking real money
  • Live Account – Can be used on any real funded MT4 account

In the Inputs section, key settings like stop loss, take profit, position size and more can be optimized for your broker account.

Ideally, use a VPS service for 24/7 execution of the EA. An account balance of at least $1,000 is recommended for live trading.

Start conservatively with micro lots and a 10 to 20 pip stop loss before scaling up position sizes.

The Bottom Line

The IS Red Scalper can be a highly effective tool for consistently profiting from gold trading on autopilot. The key is taking the time to properly test and configure the expert advisor for your specific account.

Use the tips in this guide to optimize your usage of this EA for the best chance of long-term trading success. Automated gold trading is made easy with the power of the IS Red Scalper.

IS Red Scalper EA Free Download
is red

The IS Red Scalper EA is an incredibly useful Metatrader 4 expert advisor designed specifically to scalp the gold market on the 1-minute timeframe

Application Category: MT4 Software

Editor's Rating: