This is an expert that uses Stochastic and Bollinger Bands as the main recipe of an operation.
The main objective of this algorithm is to recognize good overbought and oversold positions.
You can adjust Stobbot settings to use an HFT system or an LFT system, it all depends on your drawdown and commission projections, lower values on the inputs tend to have a higher frequency while bigger values tend to have a lower frequency of operations, the same applies on using the reversal system or not.
Please make sure to strategy test the bot before using it on real money, you need to learn how to use it to understand.
This is how to configure Stobbot Inputs
- EA Number = self-explanatory;
- StopLoss = amount of times that the point value will be added/subtracted from the price to create a stop loss range, if 0 = not used;
- TakeProfit = amount of times that the point value will be added/subtracted from the price to create a take profit range, if 0 = not used;
- Trailing system = amount of points to work with the moving stop on the position;
- Trade reversal system = if "true" will use opposite trading signals to reverse the current position;
- Dynamic Lot based on Risk = If "true", will use a dynamic lot system calculated by the risk factor setted by the user;
- Risk (percentage of margin used) = the amount (in percent) of free margin to be used on future orders. Reflects some risk factor of the operation;
- Lots to trade = amount of lots to be traded if dynamic lot is set to "false".
- Price Deviation = the biggest deviation from the current price that will be accepted before opening an order;
- Bollinger Bands Average = self-explanatory (for more information, see some info about Bollinger bands indicator);
- Bollinger Bands S.D. = self-explanatory (for more information, see some info about Bollinger bands indicator);
- Bollinger Bands Standard Deviation Operational Distance (in) = distance of the price from the external bands to sign for good in point. Negative values represents a longer operation since it waits for a more solid confirmation. Positive values represent a more flexible signal from BB ;
- Bollinger Bands Standard Deviation Operational Distance (out) = distance of the price from the external bands to sign for good out point. Negative values represents a longer operation since it waits for a more
solid confirmation. Positive values represent a more flexible signal
from BB ;
If BB_SDOD_out = 2, it will use the same value from BB_SDOD_in.
- %K Stochastic Oscilator = self-explanatory (for more information, see some info about stochastic indicator);
- %D Stochastic Oscilator = self-explanatory (for more information, see some info about stochastic indicator);
- %S Stochastic Oscilator = smoothness of the stochastic oscillator (for more information, see some info about stochastic indicator);
- Limiter Value of an over-priced condition = stochastic upper limit for overbought prices. The lower limit will be (100-thisValue);
- Stochastic Smoothness type = self-explanatory (for more information, see some info about stochastic indicator);
- Stochastic calculating method = self-explanatory (for more information, see some info about stochastic indicator);
- Type of Out Signal from Stochastic = choses what type of closing signal you want from stochastic (crossing lines, crossing limits or none)
- -Stop Loss and Take Profit: these inputs do major interference on the expert, since it can close positions by its own strategy. The need of higher stops/tps or not must be defined by the strategy wanted by the user
- -Bollinger Bands S.D.O.D. = this value sets the major behavior of Bollinger Bands on the strategy. Higher inputs means less dependency of the Bollinger Bands for the strategy.
- -All stochastic settings (greatly depends on the type of Symbol you are testing it on)
Also, you can use the "Open Prices Only" option instead of "Every Tick" while optimizing because Stobbot only check for changes at the opening of a new candle. (While using SL/TP, the use of "Every Tick" may or may not be needed)
Stobbot is on its second version and has received major updates since it became available for the first time on the market.
Please check out the updates tab!
If you find any error, please report it. I will try my best to fix it as soon as possible.
The new formula is (StopLoss for example): StopLoss*symbolPoint/tickSize;
The old formula was: StopLoss*symbolPoint;
- Normalized BB_SDOD:
The BB_SDOD input now has a range of -1 to 1, which means the percentage amount of the distance from the price to the external band. BB_SDOD of 0.1 means a distance of 10% from the price to the external band (from within the bands), a BB_SDOD of -0.1 means a distance of 10% from the price to the external band (from outside the bands).
- Removed Dynamic Lot
The Dynamic Lot function was removed for better study case for forex/stocks/futures markets
-Fixed a bug where Stobbot would not limit the number of opened positions
This version of Stobbot comes with a full rework of it. It introduces a graphical unit for Stobbot and a lot of new functions and algorithms for expert trading. Let's take a look on each new function:
1 - Trailing System: as requested, I've introduced a trailing system based on the movement of the symbol. Easy to use, can be optimized and implemented on your strategy with Stobbot with no problem and conflict at all.
2 - GUI: I've decided that you should be able to see how Stobbot is dealing with its positions. Now you can find all the needed information about it right on the corner of your symbol screen. (On a future update you will be able to set the GUI corner)
3 - Trade Reversal: this system allows Stobbot to revert the opened position if an opposite signal is recognized. This give the user the capability of better using lateral movements on the market, useful for some strategies.
4 - Values configuration: on the previous version of Stobbot, the user needed to know the point size or the allowed values for Stop Loss and Take Profit points, lots and other symbol properties. I've made a full rework on Stobbot input system, which now do all the hard job by itself.
5 - Inputs configuration: Stobbot now has divisions based on the section type of the input. The user may find this system a little bit more user-friendly.
6 - BB SDOD in/out: user can now set a different value of the BB_SDOD input for In/Out trade signal. The definition and usability of BB SDOD is described on the description page. This allows more flexibility on BB based strategies of Stobbot.
Hope you like the new update and feel free to ask for new functions or a downgrade on some functions on the Comment section! This big update is based on the opinion and sugestion of users who bought Stobbot on it early days and I'm very thankful for your participation!
If "Dynamic Use" is set to False, Stobbot will use fixed lot amounts as set in the inputs, otherwise, it will use the value of the percentage input on operational settings.
Plus, created divisions between different settings of Stobbot (operational, strategy, etc.).