Bollinger Wave EA

Bollinger Wave EA
Overview
Bollinger Wave EA is an advanced automated trading system that combines grid trading methodology with Bollinger Bands technical analysis. The Expert Advisor identifies high-probability entry points by detecting price reversals at the extremes of the Bollinger Bands, strategically executing pending orders to capture market movements.

Core Strategy
Trading Logic
The Expert Advisor (EA) operates on the mean reversion principle, identifying oversold and overbought conditions through Bollinger Band analysis:

BUY Signals:

The price touches or approaches the lower Bollinger Band (overbold zone)
The price shows upward momentum (bounce off the lower band)
The price remains below the middle band, confirming oversold conditions
Places BUY STOP orders above the current price with predetermined spacing
SELL Signals:

The price touches or approaches the upper Bollinger Band (overbought zone)
The price shows downward momentum (retracement from the upper band)
The price remains above the middle band, confirming overbought conditions
Places SELL STOP orders below the current price with predetermined spacing
Grid Management System
Dynamic placement of pending orders at calculated distances from the current price
Maximum pending order limits to prevent overexposure
Execution Automatic order triggering when the price reaches pending levels
Distance-based activation ensures orders are triggered only within the defined range
Key Features
Risk Management
Fixed lot size or based on percentage of equity
Automatic Stop Loss on all positions
Margin check before each trade
Maximum spread control to avoid trading in unfavorable conditions
Limitation of pending orders to control total exposure
Intelligent Trailing Stop
Automatic triggering when the position reaches the target profit (in pips)
Dynamic tracking of favorable price levels
Profit protection through progressive Stop Loss adjustment
Customizable trailing start and step settings
Trading Filters
Time Filter:

Defines specific time windows for trading
Avoids periods of low liquidity or high volatility
Customizable according to the trader's time zone
Bollinger Bands Filter:

Activable/deactivatable according to preference
Configurable period (default: 20)
Adjustable standard deviation (default: 2.0)
Validation Signal generation through analysis of previous candlesticks
Spread Filter:

Protection against excessive spreads
Configurable limit in pips
Prevents executions in adverse market conditions
Configurable Parameters
General Settings
Magic Number: Unique identifier for EA trades
Slippage: Maximum acceptable slippage in points
Capital Management
FixedLot: Fixed lot size (if > 0)
RiskPercent: Percentage of risk in the balance (if FixedLot = 0)
Grid Parameters (in pips)
Delta: Distance between the current price and the pending order
MaxDistance: Maximum distance allowed for order activation
StopLossPips: Stop Loss in pips for each position
TrailingStart: Profit pips to activate trailing stop
TrailingStep: Distance of the trailing stop from the current price
MaxSpread: Maximum spread allowed for trading
MaxPendingOrders: Maximum number of pending orders per direction
Settings Bollinger Bands
UseBollinger: Enable/disable Bollinger Bands filter
BB_Period: Bollinger Bands period
BB_Deviation: Standard deviation of the bands

BB_Shift: Indicator shift

System Advantages

Full Automation

24/7 Trading without Manual Intervention

Instant Signal Execution Based on Predefined Conditions

Automatic Trailing Stop and Profit Protection Management

Risk Control

Multiple Layers of Protection (SL, Spread, Margin, Time)

Exposure Limitation through Pending Order Control

Professional Capital Management with Fixed or Percentage Options

Technical Accuracy

Automatic Price Normalization Based on Symbol Digits

Adjustment of Minimum Distances According to Broker Requirements

Compatibility with 3/5 and 4/5 Digit Brokers

Optimal Technical Specifications

Recommended Configuration

Currency Pair: XAU/USD (Gold vs. Dollar)

Timeframe: M5 (5 minutes)

Minimum Capital: $1,000 USD

Account Type: Compatible with Prop Firms and Regular Brokers

Optimization for XAU/USD

The EA has been specifically designed and optimized to trade the XAU/USD pair, leveraging:


The high Gold market liquidity

Characteristic mean reversion movements

Controlled volatility on the M5 timeframe

Frequent price respect for Bollinger Bands

Ideal Use Cases

Trading XAU/USD taking advantage of mean reversions on the M5 timeframe

Sideways markets with a mean reversion tendency

High liquidity gold sessions (London and New York)

Prop Firms: Compatible with drawdown rules and profit targets

Regular Brokers: Works with any broker that offers XAU/USD

Technical Requirements

Platform: MetaTrader 5

Recommended pair: XAU/USD (Gold)

Timeframe: M5 (5 minutes)

Minimum capital: $1,000 USD

Account type: Prop Firms and Regular Brokers

Execution type: Market Execution or Instant Execution

Spread: Preferably low (< 20 pips for XAU/USD in best results)

Recommended VPS: For 24/7 trading without Interruptions

Margin: Sufficient to manage multiple simultaneous gold positions

Compatibility with Prop Firms

The EA is designed to comply with the strict rules of leading Prop Firms:


Controlled risk management through mandatory Stop Loss orders

Drawdown control through limiting pending orders

Trailing stop for profit protection and meeting profit targets

No aggressive martingale techniques

Transparent trading with identifiable Magic Number

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Bogdan Ion Puscasu
4.78 (41)
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Nestor Alejandro Chiariello
5 (1)
Prophet EA — MT5 Expert Advisor Prophet EA is an advanced Expert Advisor for MetaTrader 5, engineered through years of exhaustive market research and proprietary pattern analysis. Built on a foundation of multi-layered internal indicators, Prophet EA scans the chart relentlessly — identifying only the highest-probability entry points with maximum potential range. The system is designed with one uncompromising goal: to achieve a 100% win rate by entering the market exclusively when all internal
Remstone
Remstone
4.89 (9)
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Golden Hen EA
Taner Altinsoy
4.33 (48)
Overview Golden Hen EA is an Expert Advisor designed specifically for XAUUSD . It operates by combining nine independent trading strategies, each triggered by different market conditions and timeframes (M5, M30, H2, H4, H6, H12, W1). The EA is designed to manage its entries and filters automatically. The core logic of the EA focuses on identifying specific signals. Golden Hen EA does not use grid, martingale, or averaging techniques . All trades opened by the EA use a predefined Stop Loss and T
Sentinel KMZ   is an automated Expert Advisor designed  for high-risk account flipping, aggressive capital growth, and fast profit extraction. Unlike conservative trading systems, Sentinel KMZ is built around a grid/martingale recovery engine with the objective of generating significant account growth in a short period of time. The EA is designed for traders who understand high-risk strategies and want to use controlled aggressive exposure to target rapid returns. The main concept behind Sentine
SentinelAI MT5
Valeriia Mishchenko
4 (2)
No losing months since August 2019, with a 2.04% monthly gain: Live performance MT 4 version can be found here Sentinel AI is fully automated trading system is built for major forex pairs such as EURUSD and GBPUSD on the M5 timeframe. By combining price action and mean reversion principles with advanced AI-driven analytics, it is designed to identify potential trend reversals and exploit market inefficiencies with greater accuracy and efficiency. Supported currency pairs: EURUSD, GBPUSD Timefram
Vortex Gold EA
Stanislav Tomilov
4.95 (43)
Vortex - your investment in the future The Vortex Gold EA expert Advisor made specifically for trading gold (XAU/USD) on the Metatrader platform. Built using proprietary indicators and secret author's algorithms, this EA employs a comprehensive trading strategy designed to capture profitable movements in the gold market. Key components of its strategy include classic indicators as CCI and Parabolic Indicator, which work together to accurately signal ideal entry and exit points. At the heart of V
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