Robot scalper BF Smart Scalper EA
The key challenge facing any scalper is separating false signals from quality ones that offer potential profits.
Interestingly, to achieve this, many resort to a multitude of obscure algorithms, which only complicate their strategy.
However, the answer lies in identifying genuine price impulses, rather than trading in a shallow and stagnant market.
Doing this manually is quite difficult; it's best to use a dedicated expert advisor.
Today, we'll look at just such a Forex advisor, which will help you maximize your profits from scalping opportunities.
BF Smart Scalper EA is a scalping robot built using a number of technical indicators, which allow it to find excellent entry points on pullbacks using intelligent analysis of market momentum.
Thus, the advisor is aimed at strong and sharp price movements, which allows it to carry out transactions with a very high potential for movement.
The working time frame can be absolutely any chart, since the advisor examines the chart, linking only to its own time frame.
Installing BF Smart Scalper EA
BF Smart Scalper EA is one of the most popular products in the Market from the developers of Meta Trader.
This popularity is due to the fact that the advisor has a very simple and reliable algorithm, and is also distributed by the developer completely free of charge, despite being posted in an online store.
Therefore, it can be installed through the market or the data catalog.
Installation via the marketplace is the easiest and fastest, as it requires virtually no platform manipulation.
To do this, you just need to find the advisor's name in the market. You can do this first directly in your trading terminal and perform a simple download by clicking the download button.
In fact, the trading terminal will be launched automatically and the advisor will be placed into it.
If the EA's author decides to remove it from the market or make it paid, you can use the standard installation method.
You can do this by downloading the robot file from the end of this article and placing it in the appropriate folder in the terminal data directory, specifically the folder named Expert.
Regardless of how you installed the robot, be sure to update the trading terminal in the navigator panel or simply restart it, otherwise the BF Smart Scalper EA will not appear in your list of EAs.
To start trading, drag it onto the minute chart of the EUR/USD or GBP/USD currency pair.
BF Smart Scalper EA Trading Strategy
The BF Smart Scalper EA expert advisor implements a proprietary scalping strategy based on several technical indicators. The robot first identifies the global trend by analyzing moving averages.
It waits for the price to move a specified number of points beyond one of the Bollinger Bands channel boundaries.
The resulting signal is then analyzed by an indicator that measures momentum, after which a trade is opened. Each position has both a stop loss and a take profit.
The StopLoss variable allows you to limit the potential loss in points, and the TakeProfit parameter allows you to set a profit target in points.
The BandPeriod variable controls the Bollinger Bands period, while the BandBreakEntry variable specifies the channel boundary breakout value in points for the EA to open a trade. This value is the distance the price will travel after crossing the boundary.
The MA_Fast_Period and MA_Slow_Period variables control the calculation periods for the fast and slow moving averages.
The Trend_Impulse variable calculates the impulse indicator, and the MA_Trend_TF variable allows you to change the working time frame on which the moving average trend analysis is performed.
The FixedLots variable controls the position volume, and the AutoMM variable calculates the position volume based on the specified risk percentage of the deposit.
Testing:
The robot's author recommends testing and optimization on a five-minute chart at opening prices.
Therefore, following his recommendations, we ran a test in the strategy tester with default settings.
The test covered the first half of 2018 on a five-minute time frame for the EUR/USD currency pair:
As you can see from the profitability chart, the BF Smart Scalper EA can easily be considered an effective and profitable expert advisor.
However, it's not exactly a scalper, as 5% profit is far from the typical profit margin for scalping EAs.
Optimization might allow you to squeeze more out of this robot, but with the default settings, profitability still leaves much to be desired.
Download the BF Smart Scalper EA .
Recommended advisor for scalping - http://time-forex.com/skalping/xmt-scalper
