Bollinger Bands EA
Get the Bollinger Bands EA!
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.
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.
- The license of every Expert Advisor you download is time limited, but you can re-download newer versions any time in your purchase history.
- MT4 Basic v1.06
- MT4 Advanced v1.07
- MT4 Pro v1.08