Bollinger bands - FOREX expert advisor

When trading on Bollinger bands, most of the time safer bet  is to use fakeout instead of breakout as an entry signal. Various tests are clearly showing that using BB boundaries as an alternative to find price high/low within the trend simply works.

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This expert advisor therefore uses MACD to identify major trend and bollinger bands to find suitable entry point at relatively high/low price.

 

 

This expert advisor works with wide range of settings, and different calculation periods for both BB and MACD that can be applied across all currency pairs and timeframes. Additional settings as signal candle width and break even conditions  are also available. This expert advisor can help you to rapidly test your ideas for bollinger bands strategies and help you find statistically most reliable entry. Various settings allow this expert to work as scalping strategy or day trading tool.

 

Used forex indicators:

  • Bollinger bands: We will enter the trade long, on price crossing the bottom BB band. We will enter short on price crossing the upper BB. All trades will be filtered by the MACD and postion will be entered only in the direction of trend.

  • Candle filter:Entry is additionally filtered by signal candle (bullish candle for short, bearish candle for long entry). Candle size can be adjusted in inputs and can increase signal accuracy tremendously.

  • MACD (moving average convergence divergence). Trend is identified by MACD histogram. Signal line is not included in calculations of this expert.

 

Notes to input:

  • Take profit points : Take profit for orders

  • Stop loss points : Stop Loss for orders

  • Lotsper1000: When automatic money managem

  • Break even after profit: Set up profit in points after which SL will move to breakeven

  • Lotsper1000. Position size used for 1000 USD of equity.

  • UseMM: True setting will ulock automatic money management.

  • Lots: Position size: Manual setting when UseMM is disabled

  • BB period: Calculation period for signal Bollinger bands

  • BB deviation: Deviation setting for BB indicator.

  • MACD slow EMA: Calculation period for slower of the two EMA creating MACD histogram

  • MACD fast EMA: Calculation period for faster of the two EMA creating MACD histogram

  • Max: Maximum size of signal candle (in points)

  • Min: Minimum size of signal candle (in points)

  1. Expert advisor is provided freely as it is.

  2. For your own benefit, test is both on historical data and forward demo data.

  3. Live use only on your own risk. 

  4. Is this expert  advisor working as described ?

  5. Was it helpfull?

  6. Please let us know in the comments !

We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).

To win you must trade with broker on your side.

Dislaimer:  Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.

TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use. 

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“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

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