Hi all.

I have built a simply scalping strategy that works pretty well (have been live trading for around 6 months.)  It works of the 1 and 5 minute charts and does really well on the GBPUSD, AUDUSD AND EURUSD (does work well on any yen pair).  Now the strategy risks 20 pips to make a profit of 4 but is highly, highly consistent.  That being said, I am a terrible coder so I thought I would throw it out to the community to discuss how we can best optimise the risk to reward ratio.  I also think it would be great if anyone knows how to hedge a losing position at say 10 pips down then when another buy is triggered remove the hedge and add an additional position. I also need it to kill positions for me a couple of hours before NY closes on Friday and not open until 4 hours after the market opens in the Asian session on Monday.  I am open to any thoughts at all to be honest so if you have one, please lets open some discussion.

Below is the indicator first, then the code.  I would be really interested to hear what people think

Indicator

REM Calculation of Bollinger oscillator

delta = CLOSE - BOLLINGERDOWN
width = 4.7 * STD

BBO = delta * 100 / width

RETURN BBO AS"Bollinger Band Oscillator"

Script

// Definition of code parameters
DEFPARAM CumulateOrders = True // Cumulating positions deactivated
// Conditions to enter long positions
indicator1 = CALL bolcam(close)
c1 = (indicator1 < 0)
indicator2 = RSI[13](close)
c2 = (indicator2 < 25)
indicator3 = RSI[13](close)
indicator4 = BollingerDown[20](RSI[13](close))
c3 = (indicator3 < indicator4[1])
indicator5 = RSI[13](close)
indicator6 = BollingerDown[20](RSI[13](close))
c4 = (indicator5 CROSSES OVER indicator6)

IF c1 AND c2 AND c3 AND c4 THEN
BUY 1 CONTRACT AT MARKET
ENDIF

// Stops and targets
SET STOP pLOSS 20
SET TARGET pPROFIT 4