Bollinger Bands EA Robot
About the Bollinger Bands
The Bollinger Bands indicator was invented by John Bollinger in the 1980s. The Bollinger Bands consist of a Moving Average, an Upper and a Lower Band and is included in Metatrader 4 and 5. The default settings are 20 for the period and 2 for the deviation.
Trade logic of this forex robot
The Bollinger Bands EA is a forex robot which uses Bollinger Bands to enter a trade. It has 2 different entry strategies.
BreakOut: If the last bar closes above the upper band it enters a Sell Order. If the close of the last bar is below the lower band a Buy Order is generated.
BreakIn: If the last bar crosses the upper band from above it enters a Sell Order. If the last bar crosses the lower band from below a Buy Order is generated.
Setting / Recommendations
Exit strategies (only MT4 Advanced and MT4 Pro)
The Bollinger Bands EA has 2 different exit strategies.
- Close on middle Band: The trade will be closed if the middle Bollinger Band gets crossed.
- Close on opposite Band: The trade will be closed if a candle closes below/above the opposite Band.
Parameters for the Bollinger Bands EA
Timeframe = The timeframe on which the EA should work regardless of what timeframe your chart is set to.
Averaging Period = Averaging period to calculate the main line (default is 20)
Standard Deviation = Deviation from the main line (default is 2)
Bands Shift = The indicator shift relative to the chart (default is 0)
Applied Price = The price values on which calculations will be performed
|Trade on new Bar|
|MA Trend Filter|
|Trade max. once per Bar|
|2 exit strategies|
|Reverse on Opposite Signal|
The Bollinger Bands EA is included in the EA Starter Bundle.
More about the Bollinger Bands EA
- You can install the Bollinger Bands EA on limitless demo and live accounts.
- Note that this Metatrader Expert Advisor does not draw any indicator on the chart.
- You do not understand all the functions? Take a look at our function glossary.
- This EA is not pre-optimized. Please read the article about optimization first.
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DISCLAIMER: Please read carefully before you decide to Invest in Forex Market
- Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Before you purchase please read our RISK DISCLAIMER.
BEAR THIS IN MIND: The Forex market changes from day to day, and that past performance can therefore not be guaranteed to repeat into the future. Past performance shown and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this we recommend that you test the EA on your own broker account using many variations of currencies, time frames and settings to make sure you experience favorable results in current market conditions before trading live accounts.
- Forex Trading EA/Robot is just a piece of Programming to Sophisticate your trading but never guarantee your winning.
- Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown.
- Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.
- Before deciding to trade products you should carefully consider your objectives, financial situation, needs, and level of experience. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.