The BBM3Levels EA is an easy to use and profitable trading robot.
Currently it works best on EURUSD, USDCHF, USDJPY, EURCHF, AUDCAD currency pairs. You may put it on any timeframe of these charts. Other currency pairs may need more testing.
The strategy is mainly based on multi-timeframe Bollinger Bands with a few internal signal filters.
It follows the strong intraday trend in the trading. When it opens the new position, it also calcuates two additional price levels to open positions with Martingale.
Thus, the name of this EA stands for: Bollinger Bands based strategy with 3 price levels.
The "Martingale" looks like a dangerous word. However, in the worst situation, we only have 3 positions in total. And the total volume is just 7 times of the initial volume. And the EA has input parameters to let you configure that when the loss exceeds a certain percentage of account balance, all open positions can be closed to protect the capital. You may check out the screenshot below to see the profit/risk of the backtest last year.
The recommended account deposit to run this EA is 1000 USD. The minimum requirement is 200 USD.
- Money Management: Enable auto calcuating the initial trade volume or use the fixed one.
- Unit Lots, Lots Per Balance: When enabling money management, use these two parameters to calcuate initial trade volumes, such as 0.01 lots per 1000 USD account balance, etc.
- Fixed Lots: When the money management is disabled, use this value as the initial trade volume.
- Max drawdown in percentage: When the overall floating loss exceeds this percentage of balance, EA will close all the positions it opened before to stop loss.
- Trade mode: You may choose the trading direction (long and short, long only, short only or do not trade) with this parameter.
- Min Account Margin Level: When the free margin level is less than this value, the EA won't open new positions.
- Magic Number: The magic number of the order that EA opens.
- Max Slippage: The acceptable slippage when opens new order.
- Max Spread: If the current spread is bigger than this value, EA won't open new order.
- Min Channel Width: A volatility factor, like but not the same with channel width of the Bolling Bands.
- BBM3Levels MT5: Signal that demonstrates and monitors the performance of this EA.