This Expert Advisor uses the Bollinger Bands for market-entry-signals.
It creates Stop-Loss-level and Take-Profit-level for every order. Also there is implemented a Trailing-Stop-function to maximize profits.
A spread-filter only allows to trade, when the actual spread is not greater than 3 (you can modify this setting). Also there is a filter to prevent that slippage is to high.
It contains also a trading hours filter. When activated, it is possible to say the EA on which hours not to trade.
The Expert Advisor is optimized on the Pair AUD/NZD M5. The Backtest goes over 10 years. The optimized parameters of this backtest are the adjusted standard-parameters.
It is important, that the Spread is lower than 3.
If you have any questions, do not hesitate to write me a message. Please also have a look to my Website (German language).
Description of variables
- Lotsize - Choose your preferred Lotsize.
- Period - Period of Bollinger-Bands.
- Deviaton - Deviation of Bollinger-Bands.
- Candle - The indicator shift relative to the chart.
- CandlePrice - Applied price.
- MagicNumber - Magic Number of Order.
- SL_percentage - Choose how many per cent the SL should lay away from market entry.
- TP_percentage - Choose how many per cent the TP should lay away from market entry.
- TrailingStop - Distance of Trailing Stop.
- TrailingStopActive - Choose if Trailing Stop should be active/inactive.
- Slippage - Choose your slippage tolerance.
- MaxSpread - Choose the maximum allowed spread for trading.
- TimeControl - Switch Time Control on/off.
- HourStartGMT - Choose, when the EA should start trading. Type Values from 00:00-24:00.
- HourStopGMT - Choose, when the EA should stop trading. Type Values from 00:00-24:00.
- GmtOffsetForTest - Only for testing-mode and optimization-mode of the Expert Advisor. Choose your Timezone. GMT + x. This function is only for backtest purposes to determine the correct timezone. In live trading mode GMT-time is always used.