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What is BF Smart Scalper EA?
The BF Smart Scalper EA, while seemingly straightforward, is grounded in a fundamental trading concept that has stood the test of time in the markets: making entries in the direction of a significant market impulse after observing a meaningful correction. This approach taps into the inherent psychology of traders, a factor that remains unchanged over time. To mitigate the risks associated with over-optimization, we designed BF Smart Scalper EA to be as uncomplicated and user-friendly as possible. Below, you will find the backtest results for our forex robot, BF Smart Scalper, specifically utilizing the currency pairs GBPUSD and USDCHF. Additionally, it supports other pairs like EURUSD and is fully compatible with all MetaTrader 4 brokers, including those operating on an ECN model, with no need for adjustments to the default settings. The EA allows for flexible risk management, enabling users to select an auto money management risk level from 2% (low risk) to 10% (high risk), depending on their account size and financial objectives, with recommended fixed lot sizes of 0.05 for a $1,000 balance and 0.5 for a $10,000 balance. If you choose to trade multiple currency pairs simultaneously, it is advisable to lower the risk to maintain a balanced approach to trading. This comprehensive framework ensures that traders can navigate the complexities of the forex market with confidence and clarity.
What is BF Scalper EA?
The strategy is straightforward yet highly effective. The Expert Advisor (EA) utilizes breakouts from the Bollinger Bands to generate signals for entry and exit points. In our view, the Bollinger Bands stand out as the most exceptional technical indicator ever developed, and we extend our gratitude to Mr. John Bollinger for this innovation! Throughout our experience with various indicators and trading strategies, we have found that the Bollinger Bands excel at capturing market volatility for scalping purposes. The stop loss is typically set within a range of 20 to 60 pips. Traders can choose between a fixed take profit of 4-8 pips or allowing the exit logic to dictate the position management. The BB indicator plays a crucial role in determining exit strategies, closing trades regardless of whether the price surpasses the opposite Bollinger Band line, managed through the "BandBreakExit" parameter, which performs optimally within a range of minus one to plus one-two. The backtest results for our forex robot BF Scalper have shown promising performance on several currency pairs, including EURUSD, USDCAD, EURCHF, USDJPY, GBPCAD, GBPUSD, and USDCHF. Additionally, the EA features robust spread protection, which is essential; utilizing limit orders can lead to unpredictable spreads of 10 to 20 pips, and a single trade with such a spread can wipe out the profits from multiple successful trades, given that the average expectancy in this trading style typically ranges from 2 to 3 pips at best. Thus, ensuring the integrity of each trade is critical to maintaining overall profitability.
API Availability
Has API
API Availability
Has API
Pricing Information
$97 one-time payment
Free Trial Offered?
Free Version
Pricing Information
$97 one-time payment
Free Trial Offered?
Free Version
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Supported Platforms
SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Customer Service / Support
Standard Support
24 Hour Support
Web-Based Support
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Training Options
Documentation Hub
Webinars
Online Training
On-Site Training
Company Facts
Organization Name
FXautomater
Company Website
www.fxautomater.com/forex-robots/bf-smart-scalper-ea
Company Facts
Organization Name
FXautomater
Company Website
www.fxautomater.com/forex-robots/bf-scalper-ea