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Bollinger Bands EA

Bollinger Bands EA - 1Bollinger Bands EA - 2Bollinger Bands EA - 3Bollinger Bands EA - 4Bollinger Bands EA - 5

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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

Versions overview

Functions Basic Advanced Pro
Money Management
Trade on new Bar
Inverse Strategy
Trailing Stop
Break Even
Spread Filter
MA Trend Filter
Trade max. once per Bar
2 exit strategies
Martingale
Candle Trail
ATR Trail
Day/Time Filter
Reverse on Opposite Signal
Trade Direction

Starter Bundle

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 v1.05
  • MT4 Advanced v1.06
  • MT4 Pro v1.07
  • Aug 28, 2017

  • Fixed: Martingale function in Pro version
  • Apr 11, 2016

  • Added: BreakIn strategy
  • Jan 13, 2016

  • Minor updates and fixes in all MT4 versions
  • Nov 17, 2015

  • Added: ATR Trail (MT4 Pro)
  • Added: Reverse on opposite signal (MT4 Pro)
  • Added: 2 exit strategies (only MT4 Advanced and MT4 Pro)
  • Mar 17, 2015

  • Initial release MT4 Pro
  • Apr 11, 2015

  • Some improvements in all MT4 versions
  • Added “Max once per Bar” function to all MT4 Advanced and Pro versions
  • Feb 07, 2015

  • Initial release MT4/MT5 Basic and Advanced

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24 thoughts on “Bollinger Bands EA”

  1. Tipachan Kongsricharoern says:

    Hi Yannick:

    Can you add the third entery as when the canddle pass under the middle BB it will generate sell order and opposite for buy order to follow trend.I think it will confirm the trend and have better outcome.
    thank you very much.

    Tipachan.

    1. Yannick says:

      Unfortunately, at the moment, I do not intend to add this feature.

  2. damien says:

    Hi Yannick, is it possible to open more than 1 position by chart with the free version?? and I want buy the Pro version but I if I buy it hox many time can I use it please?? sorry for my english

    1. Yannick says:

      No, the basic and pro versions do only open one trade per chart. But it is possible to attach the EA multiple times to the same symbol using different settings and magicNumber.

      1. damien says:

        ok thanks. sorry for my english. What I need is the EA open 1 position for each signal without closing the last positions when I am in negatif. do you think it’s possible?

        1. Yannick says:

          No, this is not possible at the moment.

  3. douchka says:

    Does day time filter have minutes open and close? or only hours?

    1. Yannick says:

      Hours and Minutes. See the functions glossary.

      1. Nadia says:

        What are the 2 exit stratégies please?

        1. Yannick says:

          Close on middle Band and Close on opposite Band.

  4. John Duta says:

    Can the standard deviation be adjusted?

    Also the averaging period?

    1. Yannick says:

      Yes

  5. ion alexa says:

    Hello, I bought Bollinger Bands EA pro but does not have the Martingale function opens a single order, how can I set it to open more orders in increasing batch: 0.01, 0.02, 0.03 …. etc = and close all , Where I can send you photographers to understand better.

    1. Yannick says:

      The martingale function does not open multiple trades, it only increases or decreases the next trades. Please read more about it here.

  6. Ahmad says:

    Does this ea simultaneously open but and sell trade, like if sell trade was opened but not reached its TP, and then buy signal appears, will ea take a buy trade without closing sell trade?

    1. Ahmad says:

      Sorry, typo. Simultaneously open buy and sell trade.

      1. Yannick says:

        No, this EA will only have one position open at the same time.

  7. Sally Underwood says:

    Hi Yanick. Is it possible to set an entry a number of pips outside the BB? I would like to enter the trade when price is 12pips outside the band. Would I be able to do that with your EA?

    1. Yannick says:

      This would require a custom modification.

  8. Xiska saputra says:

    Dear Yannick,

    I already buy your pro version, I need to know how your martingale works, how to set up the martingale value, if we set the initial lots 0,02 with take profit 100 pips, stop loss 400 pips. if I get loss, and I want to take the profit for the second trade and so on, how much value shall I put in the martingale value? and shall I use multiplier ? how does the multiplier works ? if I set the martingale value 0.1, and set the multiplier to true, after 1st trade loss with 0.02lots x 400 pips loss, 2nd trade will be 0.12 lots with take profit 100 pips? and then if still loss, how much is it the lots for the third trade?

    Sorry for having so many question, since I am newbie in this case.
    Thank you.

    1. Yannick says:

      You will find all you need here:
      https://quivofx.com/school/functions/

  9. Xiska Saputra says:

    hi there, i am using the basic on my cent account, i set the take profit to be 100 pips and stop loss to be 400pips but how come the ea proceed the take profit become 1000 pips? how to set take profit 100pips in cent account? can you help me? thanks

    1. Yannick says:

      Its not because of the cent account. Its because my EA do automatically calculate if you use a 4 or 5 digits broker. On a 4 digits symbol 1 pips is 0.0001, on a 5 digits symbol 1 pips is 0.00010. Hope this helps.

      1. Xiska saputra says:

        thanks for the info, I already manage to make it into 100 pips and 400 pips.

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