Bollinger bands breakout - FOREX expert advisor

Breakout expert advisor drawing bollinger bands tunnel with custom settings. Breakout candle size can be filtered out, enabling us to look for statistically best possible breakout entry. Expert advisor uses trailing stop instead of predetermined take profit and stop loss.

This expert advisor has a lot of adjustable features enabling us to use it to test various breakout approaches, across all currency pairs and timeframes. It can be used both as a scalping forex strategy but also for swing forex strategies.

 

For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.

 

 

 

Used forex indicators and features

  • Bollinger bands. It is possible to adjust calculation period and deviation of volatility dependent tunnel. Breakout is done on candle with specific size closing outside of tunnel boundaries (entry on new candle open). This type of breakout is considered to be a signal in many bollinger bands bases forex strategies.

     

  • Signal candle size can be adjusted and filtered (min, max inputs). Statistically , less frequent, tall candles provide better entry than narrow candles.

 

  • Trailing stop loss. Initial stop loss is placed above / below the breakout candle. Trailing stop is then adjusted after each candle close. Distance between the candle and stop loss can be adjusted (trail stop extra deviation).

 

Notes to input:

  • BB period: calculation period for bollinger bands indicator 

  • bb dev: deviation setting for bollinger bands forex indicatoer

  • Take profit: Take profit in points for each postion

  • trailstop deviation: distance between last closed candle high/low and trailstop

  • max: specify maximum signal candle body size

  • min: specify minimum signal candle body size

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. ” 

—  Marian, Proprietor of TheForexkings.com