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MT4 Expert Advisor



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.

Bollinger bands - FOREX expert advisor

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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.

Bollinger bands - FOREX expert advisor

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.

Bollinger bands - FOREX expert advisor

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.

Bollinger bands - FOREX expert advisor
  • 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.

Bollinger bands - FOREX expert advisor

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 ?

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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.