Free BF Smart Scalper EA – Best Free Forex Trading Robot
Table of Contents
This is a fully automated free version of BF Smart Scalper Expert Advisor.
All genius things are elegantly simple. BF Smart Scalper EA is very simple, but it is based on the most proven trading principle since the markets exist – enter the market in the direction of a strong market impulse, after a reasonable correction is detected. In the core of this trading principle is our deeply encoded human psychology, which will never change. The goal was to keep BF Smart Scalper EA as simple as possible in order to prevent the curve-fitting, which is the biggest enemy of the EA trading.
Free BF Smart Scalper EA Features
- Strong, pure and simple trading logic
- 24/5 trading, without any time restrictions – no GMT shift hassles
- Reasonable TP and SL levels
- Low drawdown
- Small number of system parameters – easy optimization and no curve fitting worries.
- Solid 18-year backtest performance
- Multiple currency pairs support
Instructions and recommendations
You can use Auto MM=2% (low risk) up to 10% (high risk), according to the significance of your account and your risk and profit expectations.
Reasonable fixed Lot size for this Forex Robot is 0.05 on 1k account balance, or 0.5 lots on 10k account balance.
In conclusion, if you use multiple currency pairs, you should consider decreasing the risk accordingly.
Supported currency pairs: GBPUSD, EURUSD, USDCHF
The default settings are for GBPUSD. The Forex Robot can be used on other currency pairs, too.
You can run the EA on M1 or M15 chart – it makes no difference for the EA, as all used timeframes are hardcoded.
You can backtest and optimize the EA on M1 chart by “open price only” method – this will be correct enough and save you a lot of time.
Finally, please, bear in mind that Holy Grails in trading does not exist! Even the best system suffers some bad periods. BF Smart Scalper EA is using very reasonable SL levels, so they can get hit /even repeatedly/ in bad market condition.
- Magic – magic number – it is extremely important to keep this different for all robots
- EA_Comment – text to be set as a trade comment
- MaxSpread – maximum allowed spread
- Slippage – maximum allowed slippage
- StopLoss – stop loss value in standard 4-digit pips – reasonable value range 30-100, opt. step 5
- TakeProfit – take profit value in standard 4 digit pips – reasonable value range 5-30, opt. step 1
- BandPeriod – Bollinger Bands period – reasonable value range 5-20, opt. step 1
- BandBreakEntry – breakout in 4-digit pips of the BB line to initiate an opposite trade (the value could be negative) – reasonable value range 0-5, opt. step 1
- BandBreakExit – breakout in 4-digit pips of the opposite BB line to initiate closing of the existing trade (the value could be negative) – reasonable value range (-5) to 5, opt. step 1
- MA_Fast_Period – fast moving average period – reasonable value range 1-20, opt. step 1
- MA_Slow_Period – slow moving average period – reasonable value range 20-120, opt. step 5
- Trend_Impulse – relative strength of the market impulse – reasonable value range 0-60 opt. step 5
- MA_Trend_TF – timeframe of both MAs.
- FixedLots – fixed trading lots when AutoMM = 0.
- AutoMM – money management. For example, AutoMM=5 means that the robot will trade with 5% risk.