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The logic of the BF Scalper EA Expert Advisor is simple, but effective – the Expert Advisor uses breakouts of the Bollinger Bands for input/output signals.

Reasonable stop loss levels range from 20 to 60 pips.

You can use a small fixed take profit of 4-8 pips or exit logic.

The exit logic is also based on Bollinger bands. The position is closed when the price is near the opposite Bollinger band or breaks it, even if it will bring a loss. This is the responsibility of the BandBreakExit parameter, which works best for values from minus one to one or two.

Recommended timeframe: M15

Supported currency pairs: GBPUSD, EURUSD, EURCHF, EURAUD, GBPCAD, USDCAD, USDCHF and USDJPY

The default settings are for GBPUSD. I have also prepared the settings files for other supported pairs. Since I can’t attach them here, please contact me and I will send them to you.

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ATTENTION: Pay attention to the CTHour1-6 parameters! They are very important! To work properly, set them according to your broker’s time zone (GMT). Carefully read the description of the parameters below!

Check out my other products on the MQL5 market:

• Forex Combo System 4 in 1
• Smart Scalper PRO
• GOLD Scalper PRO
• Grid Master PRO
• BF Scalper PRO
• News Scope EA PRO

• TicksTrade – if false, the logic is triggered at the beginning of the M1 bar, otherwise-on a new tick.
• StealthMode true/false-hide the stop loss and take profit levels from the broker. In this case, the stop loss and take profit are not located on the trading server.
• EmergencyStopDist – the second level of protection when using StealthMode. If the value is above zero, the second level of the “true” (emergency) stop loss is activated at a greater distance than the virtual hidden stop loss. The value of the emergency stop loss is the sum of the EmergencyStopDist and the hidden stop loss.
• MinEquity – minimum equity for trading.
• BandPeriod – the period of the Bollinger bands.
• BandBreakEntry-breakout of the Bollinger band to open the opposite trade, in four-digit points (the value can be negative).
• BandBreakExit-breakout of the opposite Bollinger band to close the trade, in four-digit points (the value can be negative).
• UseTrendFilter – if true, the EA only trades in the direction of the trend defined by the two moving averages below.
• MA_Fast_Period – the period of the fast moving average.
• MA_Slow_Period – the period of the slow moving average.
• MA_Trend_TF – timeframe of both moving averages.
• TimeRestriction – if true, the EA only trades during the hours listed below. false – disabled.
• CTHour1 – 6 – six possible trading hours. Values: 0-23. Enter a large number, such as 55, to disable a particular value. From our experience, the best results are achieved at 21 and 22 hours (GMT). The time must be adapted to your broker’s time zone. The default values are adapted for GMT 2 (winter time).
• Wednesday swapfilter true/false-the Wednesday swap filter cancels all trades on Wednesday evening in the direction of a negative swap if the swap is worse than the MaxNegSwapPips value.
• MaxNegSwapPips – the maximum negative swap in pips, the most reasonable value: minus 0.5.
• RolloverTimeFilter true/false-enable / disable the rollover time filter.
• MinutesBefore – minute interval until midnight, during which all transactions are canceled.
• MinutesAfter – a minute interval after midnight, during which all trades are canceled.
• …

The full list of parameters and additional information are available in the blog (in English).

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