How does the name say, this EA is a Scalper using Bollinger Bands reversal strategy. This strategy is based on the fact that, using a standard deviation of 2 for Bollinger Bands, about 95% of price moves have occurred recently are contained within the bands.
This EA is working with 1 currency pair at a time, but you can activate it on multiple currencies using a different Magic Number. This scalper works the best on ranging market pairs like GBPCAD, EURCHF, EURGBP, GBPNZD, NZDAUD, CADCHF etc. Being a scalper, I recommend using it on low timeframes and the best I found is M15. It opens only 1 trade on every currency at a time.
The proper trading environment for this EA I found to be during the Asian trading session because of it's low volatility and less number of news. You can set the trading hours of the EA in the settings based on your broker time zone.
Each trade is opened with Stop Loss and Take Profit, so your capital is protected, but it may close the trades manually when the signal is triggered.
The trading robot is highly reliable, as it has been developed considering trading on a real account. The money-management system allows you to set the risk manually from the initial settings of the EA (e.g. 10% of your deposit for each transaction).
The biggest enemy of this scalper is powerful trending move. I recommend to deactivate it when the market is waiting for important news or bank decisions.
IMPORTANT INPUTS TO UNDERSTAND
Each input is described in the inputs section. Here you can find some important details for them.
INPUT_MAGIC_NUMBER -- The magic number you have to set for each instance of the EA (DIFFERENT FOR EACH PAIR)
SL_RATE -- This EA uses a dynamic Stop Loss based on the distance from the outer bands to mid band. The bigger SL_RATE is, the wider SL will be.
MAX SL IN POINTS -- This variable limits the wideness of SL. During a volatile market, if the SL should be placed at a distance bigger than the points specified in this MAX SL IN POINTS, the EA will place the SL at this maximum distance. This setting will protect your capital from taking a not assumed loss.
MIN HOUR TO TRADE -- The hour at the EA should start trading.
MAX HOUR TO TRADE -- The hour at the EA should stop trading.
In the SCREENSHOTS section, you may find some trading reports. Also, in those reports you may find the settings I'm using in different currency pairs.
You may find some inputs in the presentation video, too.
I WISH YOU BIG PROFITS!