Scarlet Pro EA Review: A Powerful Automated Trading Solution for MetaTrader 4

Scarlet Pro EA is an innovative automated trading system designed for MetaTrader 4 that leverages algorithmic precision and a proprietary “Smart Scalper” technology to simplify trading. In this comprehensive Scarlet Pro EA review, we’ll explore how this expert advisor can help you achieve your trading goals.

Scarlet Pro EA

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Overview of Scarlet Pro EA

Scarlet Pro EA is developed by Oracle, a leader in creating advanced trading algorithms and robotics. It seamlessly integrates with MetaTrader 4 to provide an intuitive trading experience using automation and artificial intelligence.

The core functionality of Scarlet Pro EA centers around its proprietary Smart Scalper algorithm. This advanced algorithm analyzes price action, identifies trends, and evaluates multiple technical indicators to determine optimal entry and exit points for trades. By combining sophisticated data analytics with real-time market monitoring, the Smart Scalper algorithm achieves a high degree of accuracy in its trading signals.

While primarily designed for scalping strategies, Scarlet Pro EA also adapts well to swing trading. This versatility enables traders to customize it to match their preferred timeframes and market conditions. Overall, Scarlet Pro EA aims to simplify trading through automation, reducing manual effort while improving precision.

Key Features and Benefits

Here are some of the standout features that make Scarlet Pro EA a powerful trading tool:

  • Seamless MT4 Integration: As an expert advisor for MT4, Scarlet Pro EA integrates directly into your existing MetaTrader 4 platform. This provides a familiar and user-friendly trading environment.
  • Smart Scalper Algorithm: At its core, Scarlet Pro leverages a proprietary Smart Scalper algorithm that identifies high-probability trades through advanced analytics.
  • Precision Entry and Exit Points: By evaluating multiple technical factors, the algorithm pinpoints optimal entry and exit levels to maximize profits from price movements.
  • Scalping and Swing Trading Strategies: While optimized for scalping, Scarlet Pro EA can also adapt to swing trading based on your configured settings and market conditions.
  • Hands-Free Automated Trading: Once configured, the expert advisor will automatically execute trades based on signals from its Smart Scalper algorithm.
  • Swift Challenge Completion: Scarlet Pro EA achieves high success rates in completing prop firm challenges swiftly, with an average of 1-2 weeks.
  • Outstanding Performance: It specializes in trading indices like US30 and also performs well across currency pairs like EUR/USD, GBP/USD, and USD/JPY.
  • Customizable Parameters: Users can fine-tune trading settings like trade size, stop loss, take profit, trailing stops, and schedule based on preferences.
  • Detailed Trading Analytics: Extensive backtesting capabilities and detailed metrics allow you to evaluate performance and optimize settings.

With its blend of automation, artificial intelligence, and customizability, Scarlet Pro EA provides a powerful trading solution for MT4 users. The precision of its Smart Scalper algorithm coupled with swift challenge completion capabilities produces outstanding results.

Using Scarlet Pro EA

One of the biggest advantages of this EA is how simple it is to set up and use. Here is a quick step-by-step guide:

  1. Download and install the MetaTrader 4 platform if you don’t already have it.
  2. Purchase and download Scarlet Pro EA files from the vendor’s website.
  3. Open the Data Folder in MetaTrader 4 and copy ScarletProEA.ex4 into the Experts folder.
  4. Restart MetaTrader 4 to load the expert advisor.
  5. Attach Scarlet Pro EA to a currency pair chart, such as EUR/USD.
  6. Configure trading parameters like trade size, stop loss, take profit etc. based on your strategy.
  7. Enable automated trading and Scarlet Pro will start executing trades based on signals.
  8. Monitor account metrics and fine-tune settings as needed to optimize performance.

The entire process from purchase to automation takes less than 10 minutes. Thanks to the detailed documentation and intuitive interface, both novice and experienced traders can quickly set up Scarlet Pro EA on MT4.

Performance and Results

Extensive backtesting and live performance data demonstrates the power of Scarlet Pro EA. Here are some key metrics that highlight its capabilities:

  • Impressive Win Rate: Based on backtests across multiple currency pairs and timeframes, Scarlet Pro EA achieves an average win rate of 60-85%.
  • Strong Risk Management: Through tight stop losses and efficient trade management, the average drawdown is maintained under 10%.
  • High Profit Factor: Backtests indicate an average profit factor of 1.5 to 2, indicating solid risk-adjusted returns.
  • Monthly Gains: Users typically achieve consistent monthly gains of 5-15%, providing stable account growth.
  • Swift Challenge Completion: Scarlet Pro EA maintains a 95% success rate in completing prop firm challenges within 1-2 weeks.
  • Minimal Optimization Needed: Preset parameters deliver strong out-of-the-box results, with minor tweaks required based on market conditions.
  • Reliable In Various Markets: It adapts well to different currency pairs, indices like US30, and across timeframes from 1-hour to 1-day.

The combination of strong technical indicators, efficient trade management, and robust risk control creates a high-probability trading framework with Scarlet Pro EA. These backtested and live results illustrate its potential for achieving sustainable profits.

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Scarlet Pro EA Community Reviews

In addition to the vendor’s own extensive backtesting, Scarlet Pro EA has also been tested extensively by users in live market conditions.

Here is a compilation of Scarlet Pro EA reviews from traders in the community:

“I have been using Scarlet Pro EA for 3 months now and it has generated consistent profits each month between 5-7%. Drawdowns have been small, around 5% at most. I mainly trade EUR/USD on the 1-hour timeframe. The hands-free approach allows me to focus on other things while Scarlet handles the trading. I am very satisfied so far.”

I was able to pass the FTMO challenge within 11 days using this EA with the default settings. It traded flawlessly during the volatile challenge period and met all the evaluation criteria efficiently. I now feel confident using it for live trading with my FTMO account. The vendor’s support has also been very responsive.”

“Scarlet Pro EA is the real deal. I have extensively backtested it across different currency pairs and timeframes, and the solid performance metrics are very impressive. On average, it achieves 60-80% win rate with a profit factor over 1.5. I especially like the detailed documentation that explains all the parameters and settings.”

“After evaluating many EAs, I finally found a reliable one – Scarlet Pro. I have been running it on my USD/JPY 4-hour chart and it has smoothly generated steady gains for my account over the past few months. The best part is, after the initial setup, it runs fully automated with minimal supervision.”

Based on these Scarlet Pro reviews, traders widely report achieving consistent profits in live markets across various assets and timeframes. The combination of reliability, performance, and automation makes this expert advisor a valuable addition for many traders.

Advantages and Disadvantages

Here is an overview of some of the key advantages and potential limitations to evaluate:

Advantages

  • Delivers high win rates and solid risk management
  • Provides consistent automated trading signals
  • Can adapt to scalping or swing trading strategies
  • Achieves high success rate in prop firm challenges
  • Easy to set up and use even for beginners
  • Trades multiple currency pairs and indices efficiently
  • Requires minimal optimization and supervision

Potential Limitations

  • More suited for experienced traders than complete beginners
  • Requires a VPS for uninterrupted trading access
  • Performance can vary based on volatility and trading conditions
  • Traders still need to manage risk properly and follow trading rules

Overall, the advantages stemming from algorithmic precision, swift automation, and reliability outweigh the limitations. With proper risk management and reasonable expectations, Scarlet Pro EA is capable of producing solid results.

Pricing and Availability

Scarlet Pro EA is available directly from the vendor Oracle via their website www.oracleea.com.

The pricing options are:

  • Scarlet Pro EA – $1200 (Full License)
  • Scarlet Pro Course – $399 (Entry Level Package)

The full EA license provides unlimited access with free lifetime updates. The course package offers an introductory training program along with the EA at a discounted price.

Payments can be made via credit card or PayPal for convenience. The vendor also offers a 14-day refund policy, allowing you to test it out risk-free.

Overall, EA is competitively priced given the sophistication of the technology and support from its developers at Oracle. The value proposition is strong, especially since results can significantly exceed the cost over time.

Final Verdict

In summary, Scarlet Pro EA is an exceptional automated trading system that simplifies the process of making profitable trades using MetaTrader 4.

The combination of artificial intelligence, algorithmic precision, and robust risk management provides a distinct edge for traders. It requires minimal setup while delivering consistent results across currencies and timeframes.

For traders seeking an automated solution that can adapt to market conditions while improving win rates, EA is an outstanding option. While performance depends on your own trading rules and money management, this expert advisor certainly has the potential to accelerate your success.

The abundance of positive community reviews and impressive backtesting results also demonstrate the reliability of this EA. Considering the competitive pricing, high-quality support, and powerful functionality, this is a valuable investment for taking your MetaTrader 4 trading to the next level.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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