NEXA Bb Counter Trend
- Experts
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Park Seongcheon
Hello,
My name is Park Sung Chan, a developer specializing in MetaTrader 5 algorithmic trading systems.
I design and research long-term, reliable automated trading models based on the structural characteristics and statistical patterns of financial markets. - Version: 1.0
User Manual (For MQL5 Market)
1. Product Overview
NEXA Bb Counter Trend is an automated trading Expert Advisor designed to detect short-term mean reversion opportunities after price overextension, using a combination of Bollinger Bands, Stochastic Oscillator, and daily Pivot Levels.
The system is designed to operate on the M5 timeframe.
All trading decisions are based exclusively on closed (fully formed) candles, and no repainting logic is used.
This Expert Advisor operates on a single symbol and manages only one position at a time.
2. Trading Logic
The Expert Advisor considers a new trade only when all of the following conditions are met:
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Price reaches the upper or lower Bollinger Band
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Stochastic Oscillator shows a directional reversal from overbought or oversold conditions
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Current price is located near a daily Pivot Point or a key support/resistance level
Stop Loss levels are calculated using ATR-based distance logic.
Take Profit levels are derived from the Bollinger Band middle line or Pivot levels, depending on user configuration.
3. Operating Environment and Limitations
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Platform: MetaTrader 5
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Supported instruments: Single user-defined symbol
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Recommended timeframe: M5
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Order type: Market orders
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No DLL calls
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No WebRequest usage
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No external resources or links
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No collection of personal user data
The product is distributed exclusively as a compiled EX5 file.
4. Input Parameters
4.1 ▶ [General Settings]
Trading Symbol
Specifies the symbol to trade.
If the specified symbol is not available in the terminal, the chart symbol will be used automatically.
Fixed Lot Size
Defines the fixed trading volume per position.
The volume is automatically adjusted to comply with broker minimum, maximum, and step requirements.
Magic Number
A unique identifier used to distinguish positions opened by this Expert Advisor.
Different values are recommended when running multiple EAs on the same account.
Slippage
Maximum allowed slippage (in points) for market order execution.
4.2 ▶ [Trading Time Filter]
Enable Trading Time Filter
When enabled, new trades are allowed only during the specified hours and weekdays.
Trade Start Hour / Trade End Hour
Defines the allowed trading window using server time.
Overnight trading windows are supported.
Allow Monday ~ Allow Friday
Enables or disables new trade entries on specific weekdays.
Existing positions may still be managed outside the entry window.
4.3 ▶ [Strategy: BB + Stoch + Pivot]
Trading Timeframe
Timeframe used for signal generation.
The system is designed for M5 operation.
Bollinger Bands
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Period: Calculation period
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Deviation: Standard deviation multiplier
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Applied Price: Price type used for calculations
Stochastic Oscillator
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%K, %D, Slowing: Calculation parameters
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MA Method: Internal smoothing method
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Price Mode: Price source for calculations
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Overbought / Oversold: Threshold levels
Pivot Zone
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Pivot Proximity ATR Multiplier: ATR-based tolerance for pivot proximity
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Enable Pivot Point, R1/S1, R2/S2 levels individually
4.4 ▶ [Entry Filters]
Spread Filter
Prevents new entries when the current spread exceeds the specified maximum.
Volatility Filter (ATR Explosion)
Restricts new trades during periods of excessive volatility by comparing current ATR to its average.
4.5 ▶ [Risk] Stop Loss and Safety Settings
ATR Period
ATR period used for stop loss calculation and volatility filtering.
SL ATR Multiplier
Defines the ATR-based stop loss distance multiplier.
Minimum SL Points
Ensures a minimum stop loss distance when ATR-based values are too small.
Broker stop level requirements are automatically respected.
4.6 ▶ [Take Profit Options]
TP Mode
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Bollinger Band Middle Line
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Pivot Point
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R1/S1 Level
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Automatic selection of the nearest valid level in the profit direction
Take Profit levels are automatically adjusted to ensure they are in the profit direction and meet minimum distance requirements.
4.7 ▶ [Position Management]
Break-Even
Moves the stop loss toward the entry price once a predefined profit threshold is reached.
Trailing Stop
Gradually adjusts the stop loss as price moves further into profit.
Broker minimum modification distance constraints are automatically applied.
4.8 ▶ [Advanced Risk Management]
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Daily loss limit (Balance or Equity based)
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Maximum loss per trade
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Consecutive loss limitation
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Minimum distance between trades (in bars)
4.9 ▶ [Debug Options]
Debug Logging
Enables detailed logging for diagnostic purposes.
Disabling this option is recommended during normal operation.
5. Operational Notes
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All trade decisions are evaluated only after a candle has fully closed.
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Only one position can be active at any time.
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Backtest results are based on historical data and do not represent real trading performance.
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Actual results may vary depending on market conditions, broker execution, and slippage.
6. Installation Instructions
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Launch MetaTrader 5
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Open the Data Folder
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Copy the EX5 file into the MQL5 → Experts directory
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Restart MetaTrader 5
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Attach the Expert Advisor to a chart
7. Support and Communication
Product support is provided exclusively through the MQL5 Market comments section or the MQL5 messaging system.
No external websites, messenger groups, or third-party support channels are operated.
8. Disclaimer
This Expert Advisor does not provide investment advice.
All trading decisions and outcomes resulting from the use of this product are the sole responsibility of the user.
