The logic behind BF Scalper EA is very simple
but effective - the EA uses breakouts of the Bollinger Bands for
entry and exit signals.
Reasonable stop loss levels vary between 20 and 60 pips.
You can use small fixed TP between 4-8 pips or leave the
exit logic to take care of the position.
The exit logic is also based
on the BB indicator and it will close the trade even on a loss when the price
is near or breaks the opposite BB line. This is commanded by the BandBreakExit parameter
which works best from minus one to plus one-two.
Recommended timeframe: M15
Supported currency
pairs: GBPUSD, EURUSD, EURCHF, EURAUD, GBPCAD, USDCAD, USDCHF and USDJPY
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