Bounce Scalper is an Expert Advisor which detects large market movements and profits from price reversals, as well as from price breakouts.
Both stop orders and market orders can be used. The exit strategy is based on tight trailing stop losses.
Risk is managed through controlled lot sizes based on given account balance.
A number of preset strategies are defined, which free the user from several tries of settings combinations.
The preset strategies have been mainly optimized for EURUSD currency pair. However, other low-spread pairs can be used as well.
For users who desire more control on their trading robots, a custom section is provided, where the user can set most of the controlling parameters by himself.
The strategy has passed severe backtests with 99% tick modeling quality, and with consideration of possible price slippage.
It has been developed with the account protection in focus, and therefore no more than one order per trade can be entered.
Order parameters section
- Status: This parameter can be used to deactivate the EA (value=Inactive).
- Magic Number: Orders magic number. Take care to keep it unique.
- Stop Loss: Value in points of the stop loss. This parameter must be set, since it is used also in the preset startegies. Default: 40.
- Take Profit: value in points of the take profit. This parameter must be set, since it is used also in the preset startegies. Default: 500.
Order management section
- Use Stop Orders: this boolean parameter defines the order entry strategy. When true, pending stop orders will be used, otherwise instant market orders will be entered. Default: false.
- Trade Breakout: boolean parameter which, when true, enables trading the price breakouts.
- Strategy: Preset strategy. It can be one of the following: Conservative, Standard, Aggressive, User. The first three strategies represent increasing level of risk and profitability.
- The User strategy requires entering additional parameters (see user strategy section). Default: Conservative. Note: the Conservative strategy uses a fixed lot size, which can be defined in the user strategy section.
- Max. Allowable gaps: when gaps between adjacent bars are above this value (in points), no trades will be entered. Default: 20 points.
- Max. Allowable Spread: if your broker increases the spread in some market conditions, this parameter will prevent the EA from entering new orders. Default: 15 points.
User strategy section
- Auto Size: when true, the trade lot size will be dependent on the account balance and the risk parameter.
- Fixed Lot size: lot size which will be used in the Conservative strategy. It can be also used in the User strategies, when the auto size feature is off.
- Volatility: the (minimum) market volatility, at which the orders can be activated. It must be given in points.
- Shift: the distance (in points) which separates the current market price from order entry.
- Trailing Stop: value in points of the trailing stop trigger.
- Period: bar period (in minutes) to be used for order entry and management. By default, all the pre-defined strategies will only use 1 minute bars. The user strategy can also use 2 or 5 minute bars.
Note: the Period parameter is independent of the selected chart timeframe. The user can choose whatever timeframe to run this EA (for example, H1). The internal program logic will only use M1, M2, or M5.
Trading hours section
- No Trade Hour Begin: hour the EA stops trading. Times are GMT. Default: 0.
- No Trade Hour End: hour the EA resumes trading. Times are GMT. Default: 0.
Try the demo first on your broker account with different settings. ECN accounts are strongly recommended.
Low spread pairs give, of course, the best results.
You can choose to have the EA on a low latency VPS server running 24/24. Or you can disable trading in certain hours, and have the EA running locally.
- New Adaptive strategy, automatically adapts the entry parameters to the current market conditions;
- New entry mode based on bar close;
- Introduced a limitation on the maximum number of entries per bar;
- Introduced the possibility to split the order size into small pieces;
- Explicitly defined the order duration, which can now be set by the user;
- Fixed bugs and improved the code speed/reliability;
- Added maximum slippage control
- Force the closure of the open orders when slippage on stop loss is detected
- Added trailing stop "Start" and "Step" features for user-defined strategies
·Added 3 more parameters for independent control of breakout trades: volatility, shift and trailing stop
·New "standard" strategy preset values improve profitability for EURUSD
·Fixed issues with the info box display