Bollinger Bands Breakout
After a breakout of the upper or the lower border of the indicator, a position is placed along the movement direction.
- Closure Active? - closure by the Bollinger Bands indicator. Take place when the price rolls back from the lower border of the indicator to the upper one for the sell positions, and when the price rolls back from the upper border to the lower one for the buy positions, respectively.
- Lot - Lot
- Stop Loss - stop order
- Take Profit - order to close with profit
- Max Slippage (points) - maximum allowed slippage, the number of points by 5-digits = N (implemented for the situations of high volatility)
- Trailing Stop (points) - trailing stop, if the number of points in profit at 5-digit = N
- breakeven? - breakeven (on/off)
- Breakeven if (points) - breakeven, if the number of points in profit at 5-digit = N
- Bands Shift - indicator shift
- Bands Period - indicator period
- Bands Deviations - indicator deviation
- Start Hour - trading start time (hours)
- Start Min - trading start time (minutes)
- End Hour - trading end time (hours)
- End Min - trading end time (minutes)
- Alert? - sound alert on position opening
- Titles? - titles
- Before using on a live account, test the EA.
- Use VPS or hosting server with minimal network latency to the broker's server.
- Low spreads + low commission + high quality execution are important when choosing a broker to trade.
- Carefully configure the settings of the Bands indicator for the selected instrument according to your style and tactics.
- Use the accounts with fixed spread in cases of regular spread expansions.