GDS Renko Bollinger 4-Mode EA

Related: Fx Craft Example EA: Bollinger Bands Mean Reversion - another powerful expert for MetaTrader 5 traders.

Four modes are included and enabled by default:

Also recommended: GDS Renko RSI + MACD 4-Mode EA - similar expert with strong performance on MetaTrader 5.

1. Breakout

A completed Renko brick closes beyond an outer Bollinger Band and confirms continuation in the breakout direction.

Default demonstration profile:

Brick 17, Period 20, Deviation 1.0, Entry Run 2, TP 24 bricks, SL 42 bricks, Max Hold 1230 min, Cooldown 5.

2. Re-entry / Mean Reversion

Price moves outside a band and a completed Renko brick returns inside. The trade looks for a move back toward the Bollinger middle line.

Default demonstration profile:

Brick 30, Period 31, Deviation 1.2, Entry Run 1, TP 28 bricks, SL 48.5 bricks, Max Hold 2580 min, Cooldown 3.

3. Midline Cross

A completed Renko brick crosses the Bollinger middle line. The middle line is used as a simple directional state change.

Default demonstration profile:

Brick 30, Period 5, Deviation 3.0, Entry Run 1, TP 10 bricks, SL 34.5 bricks, Max Hold 2220 min, Cooldown 3.

4. Squeeze Breakout

A breakout is accepted only when the previous Bollinger Band width is below a configurable maximum. This demonstrates a simple volatility-compression filter.

Default demonstration profile:

Brick 14, Period 18, Deviation 2.4, Max Width 34.5 bricks, Entry Run 1, TP 26 bricks, SL 31 bricks, Max Hold 2050 min, Cooldown 1.

Portfolio controls

Each mode can be enabled or disabled independently. On hedging accounts, each mode can hold one position and the common Max Positions input defaults to 4. On netting accounts MetaTrader 5 permits only one net position per symbol, so the EA automatically limits the effective maximum to one.

Skip Opposite Signals is an optional safety filter. When enabled, new entries are skipped if different modes generate opposite directions on the same tick. It is enabled by default.

The EA uses separate magic numbers for the four modes (Base Magic + 1 ... + 4), so positions can be associated with the mode that opened them after a terminal or EA restart.

Historical demonstration

The combined default configuration was checked on XAUUSD M1 from 2026-05-01 to 2026-09-08 using Every tick based on real ticks / 100% real ticks:

48,458,994 ticks

108 trades

Total net profit: $4,084.32 on a $10,000 test deposit

Profit Factor: 4.22

Maximum balance drawdown: 2.06%

Maximum equity drawdown: 2.86%

Recovery Factor: 13.48

Sharpe Ratio: 8.61

Profitable trades: 65.74%

This is a historical educational example. The supplied settings were selected from historical testing and are not evidence of a persistent trading edge or future profitability.

Implementation notes

- Classic fixed-size Renko with two-brick reversal

- Internal Renko construction; no offline charts or custom symbols

- Signals only from completed Renko bricks

- Bollinger calculation uses previous completed Renko closes only

- Four independent Renko/Bollinger engines

- One position per mode on hedging accounts

- Configurable portfolio position limit

- Optional opposite-signal conflict filter

- Requested lot size normalized to symbol volume constraints

- Trading-session checks before trade requests

- Pending exit handling when the market is temporarily closed

- No DLLs and no external indicators

The source is intentionally kept readable so the EA can be used as a starting point for studying Renko, Bollinger Bands, multi-strategy design and causal event processing in MQL5.

You may also like: GDS Renko Trade Manager for MetaTrader 5 - excellent alternative for expert users on MetaTrader 5.

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.30"
#property strict
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
enum ENUM_GDS_BB_MODE
  {
   GDS_BB_BREAKOUT=0,
   GDS_BB_REENTRY=1,
   GDS_BB_MIDLINE_CROSS=2,

.......

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.