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

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.