Description

FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+: A Comprehensive Guide

Alternative Title: FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+: The Long-Running Expert Advisor for Forex Trading

Table of Contents

1. Introduction
2. History and Development
3. Key Features
4. Trading Strategies
5. Supported Currency Pairs
6. Setting Up FRANKOSCALP EA
7. Longevity and Updates
8. Pricing and Activation
9. Conclusion

Introduction

The FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+ is a well-established Expert Advisor (EA) in the Forex market. With a track record spanning over five years, this EA has consistently maintained its popularity among traders. Whether you’re browsing Forex forums or seeking a reliable automated trading system, FRANKOSCALP EA is likely to come up in discussions. However, it’s important to note that the original, updated version is exclusively available on the MQL5 platform.

History and Development

The journey of FRANKOSCALP EA began in 2012 when its creator first entered the Forex world. By 2015, the focus shifted entirely to automated trading systems, leading to the release of the first version of FRANKOSCALP in 2016. Since then, the EA has undergone continuous development and improvement.

A significant milestone was reached with the introduction of an MT5 version, which maintains full compatibility with its MT4 counterpart. This expansion has allowed traders using different platforms to benefit from FRANKOSCALP’s strategies.

Key Features

1. Long-standing reputation: With over five years in the market, FRANKOSCALP EA has proven its reliability and effectiveness.
2. Regular updates: The EA receives frequent updates, ensuring it remains relevant in changing market conditions.
3. Versatile strategies: Offers both conservative and aggressive trading options to suit different risk appetites.
4. Multi-currency support: Designed to work with a wide range of currency pairs.
5. Customizable settings: Allows traders to fine-tune parameters according to their preferences.

Trading Strategies

FRANKOSCALP EA employs two main types of trading strategies:

1. Primary Sets (Conservative):
   • Focus on scalping during quiet market periods
   • Avoid trading during news events
   • Implement Stop Loss for each trade
   • Do not use grid or martingale methods
2. Modified Sets (Aggressive):
   • Use averaging positions instead of Stop Loss
   • Incorporate grid and martingale methods
   • Based on Primary Sets, ensuring stability in most cases
   • Suitable for traders seeking higher risk and potential returns

Supported Currency Pairs

FRANKOSCALP EA has developed sets for a wide range of currency pairs, including:

• USDCHF, EURCHF, CADCHF
• USDCAD, EURUSD, EURGBP
• EURAUD, EURCAD, GBPUSD
• GBPAUD, GBPCAD, NZDCAD
• NZDUSD, AUDUSD, AUDCAD
• AUDJPY, CHFJPY, USDJPY
• EURJPY, USDSGD

This diverse selection allows traders to apply the EA’s strategies across various markets and potentially benefit from different economic conditions.

Setting Up FRANKOSCALP EA

To get started with FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+, follow these steps:

1. Download the latest settings archive from this link.
2. Choose between Primary Sets (“Without GridMartin” folder) and Modified Sets (“With GridMartin” folder).
3. The EA works on any timeframe, automatically retrieving necessary data from multiple timeframes. However, backtesting is recommended on the M1 timeframe.
4. To activate the News filter function:
   • Enable “Allow WebRequest” in your terminal settings
   • Add the news site URL to the allowed list: https://nfs.faireconomy.media
5. Verify the EA’s time autotune using the information in comment #2010.
6. Adjust the trading lot calculation as described in comment #2017.
7. For additional support, you can send a screenshot of your terminal setup to the developer or arrange a remote desktop check via TeamViewer.

For a complete list of EA parameters, visit the official blog post.

Longevity and Updates

One of the key factors contributing to FRANKOSCALP EA’s success is its commitment to continuous improvement. Unlike many EAs that become obsolete after periods of drawdown, FRANKOSCALP receives regular updates and new setting sets. This approach ensures that the EA remains effective and adaptable to changing market conditions.

The developer acknowledges that no EA is a “money-printing machine” and that all trading systems experience both profitable and loss-making periods. By maintaining and updating the EA during drawdowns, FRANKOSCALP has retained a loyal user base, with many traders using it for five years or more.

Pricing and Activation

When purchasing FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+, you receive:

• Lifetime access to the EA
• All future updates free of charge
• 10 activations, allowing use on 10 computers or VPS
• Unlimited trading accounts and terminals

This pricing model offers flexibility and value for traders, ensuring they can use the EA across multiple devices without additional costs.

Conclusion

FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+ stands out as a reliable and adaptable Expert Advisor in the Forex market. Its long-standing presence, regular updates, and versatile strategies make it an attractive option for both conservative and aggressive traders. By offering a range of currency pairs and customizable settings, FRANKOSCALP EA caters to diverse trading preferences and risk appetites.

If you’re looking for a well-established EA with a track record of consistent performance and ongoing support, FRANKOSCALP EA V4.2 MT4 FOR BUILD 1431+ is worth considering. Remember to always practice responsible trading and use the EA in conjunction with your own research and risk management strategies.

Learn more about FRANKOSCALP EA and start your automated trading journey today