Bollinger Bands EA

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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

Included functions

All versions have variable Magic Number, Take Profit, Stop Loss, Lot Size and Slippage.

Functions

Basic

Advanced

Pro

     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
  • Version


    MT4 Basic v1.05
    MT5 Basic  v1.03
    MT4 Advanced v1.06
    MT5 Advanced v1.02
    MT4 Pro v1.06

  • Changelog

    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

33 thoughts on “Bollinger Bands EA

  1. 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.

  2. 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. 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.

  3. I used the free one
    with GBPJPY Time frame H1
    the lot size was 1.00
    with SL 200 Pips & TP 50 Pips
    My demo account was $10000 and now its is more than $15000 in 35 days
    It is amazing but unfortunately it does not have news filter
    but , it is amazing

  4. Hi, I’m testing your BB basic EA on a demo account, i have observed that when you adjust the lot size to .01 it still trades a bigger lot size like 3.6 or 4.3. why is that so? does the EA depend it’s opened trades on the balance/equity?

  5. Qual o tamanho de SL e TP ideal? ou como faço para que a ordem feche quando encostar na média móvel?

    What is the size of SL and TP ideal ? or how do I close the order when touching the moving average ?

    1. There is not ideal size of SL and TP. It depends on the timeframe and symbol. Set “use exit strategy” to true and choose the exit strategy you need (only advanced and pro versions on MT4 do have a exit strategy).

  6. I can find the tools and options section but I cannot locate “max bars in history” and “max bars in char” anywhere in the options.

  7. I just bought the pro and there is a lot of commons to choose from in the list is there a video or page that will break down what each line means?

  8. Basically I not used any Robot in my whole life and also not know , how can download and use the Forex Robot So can you tells us some information about this ?

    1. Feel free to download and test the Bollinger Bands EA – basic version. It’s for free.

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