BB King
- Experts
- Version: 1.4
- Updated: 9 January 2021
- Activations: 10
BB King EA for MT5
BB King Expert Advisor uses a simple reversal strategy using Bollinger Bands and trend detection.
It is designed to be easily used by newbies with very few parameters.
Please try the demo and leave feedback.You will need to optimize it for the pair you wish to trade.
Minimum deposit: $100 per lot size of 0.01 per currency pair.
Risk Management
There is NO Stop Loss or Take Profit set for each order placed.
Stop Loss and Take Profit are controlled by the Input Variables.
Stop Loss and Take Profit are set in currency value and apply to each order. For example, if you trading account is in USD and Take Profit is set to 10, then any open orders will close when they reach 10 dollars profit. The same applies to Stop Loss. If Stop Loss is set to 10 then any order reaching a loss of 10 dollars will be closed.
Warning: The Magic Number is NOT used for Stop Loss and Take Profit. So, they will apply to all orders on the Terminal whether placed manually or by another chart or EA.
Input Variables
| Version | Current version |
| Max Spread | Max spread in pips |
| Bollinger Bands Period | Bollinger Bands Period |
| Bollinger Bands Deviation | Bollinger Bands Deviation |
| Fast MA period | Used to detect trend (Fast MA > Slow MA = UP Trend) |
| Slow MA period | Used to detect trend (Slow MA > Fast MA = DOWN Trend) |
| Lot Size | Lot Size |
| Timeframe Bollinger Band | Timeframe to use for Bollinger Bands |
| Timeframe MA | Timeframe to use for MA |
| Magic Number | Magic Number |
| Order Take Profit | The value in Currency for Take Profit (applies to each order) |
| Order Stop Loss | The value in Currency for Stop Loss (applies to each order) |
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Disclaimer:
Please do your own back testing.
Forex trading is a very risky form of trading. Only trade with money you can afford to lose completely.
