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REGISTER PARTICIPANTS Expert Robobollingerbands Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Sep 29, 2020.

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James Goldman
  1. James Goldman

    James Goldman Moderator
    Staff Member Organizer

    Jun 15, 2020
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    RoboBollingerBands is an Expert Advisor which implements a strategy based on Bollinger Bands. When a breakout occurs above the upper BB or below the lower BB the EA opens a trade in the opposite direction. Additional trades can be opened if the reversal does not occur immediately. It also utilizes the ATR (Average True Range) indicator in order to automatically adjust the EA to current market conditions. It is recommended to run the Expert Advisor on H1 time frame.

    RoboBollingerBands Expert Advisor is optimized to work with the below pairs with default settings (NOTE: some of them generate a huge drawdown with default settings):

    • GBPAUD
    • AUDUSD
    • AUDCAD
    • AUDJPY
    • EURCHF
    • EURAUD
    • CADCHF
    • CADJPY
    • CHFJPY
    You can run this Expert Advisor on an account balance of $1000 but you will have to be careful in adjusting the lot size and number of currency pairs you choose to trade. My recommendation is to trade one currency pair with an account balance of $3000 with the default settings.

    The Expert Advisor needs to be attached to each currency pair you want it to trade.

    Expert Advisor Input Parameters:

    • timeframe: The timeframe for the chart you are attaching the Expert Advisor to (default: H1)
    • lot_size_1: lot size for the first trade (default: 0.1)
    • lot_size_2: lot size for the second trade (default: 0.3)
    • take_profit_1 and take_profit_2: define the take profit level to be used according to the number of open trades. (default: 3 and -0.1)
    • slippage: maximum number of pips for order slippage (default: 5)
    • magic_buy: magic number associated to Long trades
    • magic_sell: magic number associated to Short trades
    • comment: RoboBollingerBands
    • text_interface: shows the Expert Advisor stats (for e.g. open positions, floating drawdown, orders etc)
    • background_color: background color of the text interface (default: Teal)

    robobollingerbands-screen-8428.jpg robobollingerbands-screen-8123.JPG


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