Bollinger Band Scalper

Bollinger Band Scalper EA

This EA opens trades when the price hits and bounces off the Bollinger Bands, it closes the trade when it reaches the opposite Bollinger band or if the price reverses into the trailing stoploss. Posisitions are sized dynamically depending on the user's account balance.

The EA waits for the price to cross the Bollinger Band and then opens a market order at a set percentage of the bandwidth from the band chosen by the user. The position is sized a percentage of the user's account balance. The takeprofit is set to the opposite band and is updated with every new bar. A trailing stoploss is used at a set percentage of the bandwidth from the high or low point reached by the price, depending on whether the open trade is long or short. The bandwidth percentage used  by the stoploss is chosen by the user.

Inputs:

BandPeriod - Bollinger Band Period

BandDeviation - Bollinger Band Deviation

RiskPercent - Percentage of account balance to risk on a single trade

EAMagicNumber - Must be different from all other active EAs

OpenAtPerc - Percentage of bandwidth from outer band to set price for market orders

StopLossAtPerc - Percentage of bandwidth to set trailing stoploss