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2010.08.12 17:20
Experts

An Expert Advisor, based on Bollinger Bands ® - expert for MetaTrader 5

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bolbands.mq5 (13.25 KB)view

This Expert Advisor is based on Bollinger Bands. It uses trend-following strategy (DEMA) and Bollinger Bands ® indicator.

It shows a stable profit in Strategy Tester during last 17 years (EURUSD M30).

The Strategy:
  • Open long position: DEМА is growing up and white (bull) candle crossed the Lower Bollinger Band from below to above.
  • Open short position: DEМА is falling down and black (bear) candle crossed the Upper Bollinger Band from above to below.
  • Close long position: Black candle crossed the Upper Bollinger Band from above to below.
  • Close short position: White (bull) candle crossed the Lower Bollinger Band from below to above.


An Expert Advisor, based on Bollinger Bands


An Expert Advisor, based on Bollinger Bands

Input parameters:
  • bands_period - Bollinger Bands period;
  • dema_period- DEMA period;
  • bands_shift- Bands shift;
  • deviation- Standard deviation;
  • Lot - Trade volume (in lots).

Recommendations:

Use this Expert Advisor as a base of your own strategy only.


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/166

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