Bollinger Scalper EA
The Bollinger Scalper EA is a fully automated Expert Advisor that trades based on Bollinger Band and RSI entry signals. The EA trades using market orders and uses averaging to safely turn otherwise negative trades positive. This EA works best on EURUSD using the M5 timeframe. A VPS is advisable when trading this system. Check the comments for back test results and optimized settings.
Please note: I have made the decision to give this EA away and many more for free with limited support so that I can concentrate on Custom EA. If you wish to use this EA it will need optimising, and if you feel like sharing your settings please do so in the comments.
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- Fully automated
- Not sensitive to spread
- Always a stop loss in place
- All you need is a VPS
- MagicOrderNumber - Unique number for the EA to identify its trades. Any integer.
- Lots - Number of lots for the first trade in a group. Values from 0.01 to 50.0.
- LotsPer10K - Number of lots for the first trade in a group per 10000 account balance (Setting to 0 disables). Values from 0.01 to 50.0.
- Slippage - Slippage in pips. Values from 1 to 10.
- AllowNewTrades - Turn this of to disable new trade groups, true/false.
- ProfitPerLot - Target profit in account currency per lot. Values from 1.0 to 1000.0.
- PositionComment - Allows you to set the position comment.
- TimeFrame - Timeframe drop-down selection to lock EA to a timeframe so that selection of the chart timeframe doesn't affect the EA. When testing ensure the tester timeframe is set to the same value.
- MaxSpread - Maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.
- StopLoss - The fixed stop loss - Values 25 to 200 depending on the pair being traded.
- BBPeriod - The Bollinger Band period used as entry signal - Values 1 to 40.
- BBStd - The Bollinger Band standard deviation used as entry signal - Values 1.0 to 3.0.
- RSIPeriod - The RSI period used as entry signal - Values 1 to 40.
- RSIThreshold - The RSI threshold used as entry signal - Values 1 to 40.
- Averaging - If turned on averaging is used to recover negative trades, true/false.
- AveragingStep - The negative move in pips against the current trade to trigger the next averaging trade. Values 5 to 100.
- AveragingMultiplier - The lot multiplier for averaging trades. Values 1.0 to 2.0.
Optimization & Defaults
Default input values are for EURUSD M5. If optimizing, optimization of RSIPeriod, RSIThreshold, BBPeriod, BBStd,ProfitPerLot and AveragingStep are needed to find the best results.