Bollinger Bands N positions
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Bollinger Bands N positions
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
A further development of .
An Expert Advisor based on the iBands (Bollinger Bands) indicator. When a signal is received, the EA closes opposite positions (see 'Features' for details).
What's new in version 2
Stop Loss
- the Stop Loss value (0 disables the parameter);
Take Profit
- the Take Profit value (0 disables the parameter);
Trailing Stop
- the Trailing Stop value (0 disables the parameter);
Trailing Step
- trailing step (if "Trailing Stop" is enabled, "Trailing Step" MUST NOT be set to zero!);
Max positions
- a limit on the number of positions (the minimum allowed value is "1" position). Features
Works on a new bar;
The number of positions is not limited;
If a BUY signal is received, all SELL positions are closed;
If a SELL signal is received, all BUY positions are closed;
Before opening an order, a check is performed if there are enough funds for a double lot.
Testing with default parameters on EURUSD, H1, from 2017.06.06 to 2018.04.10:
Input Values
Trade parameters
:
Lots
- the volume of position to open;
Stop Loss (in pips)
- the Stop Loss level;
Take Profit (in pips)
- the Take Profit level;
Trailing Stop (in pips)
- trailing value
Trailing Step (in pips)
- trailing step value
Max positions
- the maximum number of open positions allowed at one time.
Bollinger Bands parameters
:
period of moving average
- period for calculating the average line;
shift
- horizontal shift of the indicator;
number of standard deviations
- number of standard deviations in the indicator;
type of price
- the price used for calculations.
Arrow parameters
- signal visualization parameters:
color of signs Buy;
color of signs Sell.
