BF Scalper EA is a fully automated trading system which takes much of the work out of trading, leaving you free to do other things!
The logic behind BF Scalper EA is very simple but effective – the EA uses breakouts of the Bollinger Bands for entry and exit signals.
Reasonable stop loss levels vary between 20 and 60 pips.
You can use small fixed TP between 4-8 pips or leave the exit logic to take care of the position.
The exit logic is also based on the BB indicator and it will close the trade even on a loss when the price is near or breaks the opposite BB line. This is commanded by the BandBreakExit parameter which works best from minus one to plus one-two.
The default settings are for GBPUSD. I have prepared set files for other supported pairs too. Since I cannot include them here, please contact me, and I will send them to you.
IMPORTANT: Pay attention to the CTHour1-6 parameters! They are very important! In order to get proper results, you have to set them correctly according to your broker GMT Offset. Read carefully the parameters explanation below!
Parameters
TicksTrade – if “false”, the logic will be executed at the beginning of M1 bar, otherwise it will calculate and trade on a new price tick.
StealthMode true/false – conceal stop loss and take profit levels in program logic making them invisible to brokers. If you use this mode, the stop loss and take profit orders are not located in the trading server.
EmergencyStopDist – second level of protection, when StealthMode is used. At values greater than zero, it activates a second level of true (Emergency) StopLoss on a greater distance than the virtual hidden StopLoss is located. In such case, the value of the new emergency StopLoss will be the sum of the EmergencyStopDist value plus the value of the hidden StopLoss.
MinEquity – minimal equity needed for trading.
BandPeriod – Bollinger Bands period.
BandBreakEntry – breakout in 4-digit pips of the BB line to initiate an opposite trade (the value could be negative).
BandBreakExit – breakout in 4-digit pips of the opposite BB line to initiate closing of the existing trade (the value could be negative).
UseTrendFilter – change this to “true” if you want to trade only in the direction of the trend defined by the two MAs below.
MA_Fast_Period – fast moving average period.
MA_Slow_Period – slow moving average period.
MA_Trend_TF – timeframe of both MAs.
TimeRestriction – by default, this is “true” so the EA will trade only in the hours listed below. If you do not want to use the time filtration, change this parameter to “false”.
CTHour1 – 6 – six possible slots for trading hours. Values 0 – 23 activate the slot. Enter a large value like 55 to deactivate the slot. Best results from our experience are achieved at 21 and 22 GMT. You absolutely should adapt this hours to your brokers GMT shift. The default values are adapted for GMT +2 (winter time).
WednesdaySwapFilter true/false – Wednesday swap filter cancels all trades in Wednesday evening in the direction of the negative swap, if the swap is worse than MaxNegSwapPips parameter.
MaxNegSwapPips – minus 0.5 pips seems reasonable threshold.
RolloverTimeFilter true/false – switch on/off the rollover time filter.
MinutesBefore – minute time interval before midnight, in which all trading operations will be canceled.
MinutesAfter – minute time interval after midnight, in which all trading operations will be canceled.
Brand
EA MT4
Refund
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Install
The installation of this Expert Advisor is BASIC INSTALL SKILLS ( NODLL ).
This is the easiest type of installation for Expert Advisors.
This Expert Advisor is a .zip file and as it does not include msimg32.dll. You don’t need to deactivate your antivirus or anything like that; simply purchase and download.
Copy the EA folder content from your product to the EA folder of your MT4 installation.
Once all the files copied, open your Meta Trader 4 or refresh Expert Advisors, thats it.
Responsability
Tradingview.video disclaims any responsibility for gains or losses resulting from the use of the strategies provided. We cannot guarantee the profitability of these strategies as multiple factors, including fees, settings, and risk management, significantly impact outcomes. Our primary responsibility lies in presenting comprehensive descriptions containing all available information, empowering you to make informed decisions independently.
Not all expert advisors come with presets. It is recommended to craft your own, finely calibrated to improve performance and minimize risks. Employ reliable historical data tools like Tickstory and Backtester Kicker to analyze various setting combinations.
Dedicate time to acquire the knowledge requisite for joining the 5% of successful traders in the forex market.
A crucial reminder: Always conduct thorough backtesting before deploying any strategy with a live trading account.
Kindly refrain from requesting recommendations for an EA; base your purchase decisions on the available information.
admin (store manager) –
Great Bot, recommended