GEN Band xp
- Experts
- Gede Egi Narditya
- Versione: 1.0
GEN Band-XP
Developer: Gede Egi
Overview
GEN Band-XP is an Expert Advisor (EA) for MetaTrader 5 that employs a unique strategy based on Bollinger Bands (BB). Unlike conventional BB strategies that focus on reversals from band touches, this EA identifies shifts in market momentum. Trading signals are generated when a "crossover" in the sequence of band touches occurs—for example, a Buy signal appears when a touch of the upper band becomes more recent than the last touch of the lower band, signaling a shift to bullish momentum.
Features
- Momentum Crossover Strategy: A unique signal logic based on which event (upper or lower band touch) occurred most recently, providing an indication of a change in market momentum.
- Stop-and-Reverse Position Management: When a new signal is formed, the EA automatically closes the opposing position before opening a new one, ensuring the EA always follows the latest signal's direction.
- Flexible SL/TP Modes: Three options for Stop Loss and Take Profit: (1) No SL/TP, (2) Manual with fixed points, and (3) Automatic using ATR to adapt to market volatility.
- Adaptive Lot Sizing: Choose between using a fixed lot size or an automatic lot size calculated based on a percentage of equity risk.
- Trade Direction Control: Users can restrict the EA to take only Buy (Long Only), Sell (Short Only), or both types of positions.
How It Works
- Band Touch Tracking: The EA constantly monitors and records how many bars have passed since the price last touched or crossed the upper and lower Bollinger Bands.
- Buy (Long) Signal Generation: A Buy signal is generated on the bar where the touch of the upper band becomes more recent (fewer bars have passed) than the last touch of the lower band. This indicates that momentum has shifted to bullish.
- Sell (Short) Signal Generation: A Sell signal is generated on the bar where the touch of the lower band becomes more recent than the last touch of the upper band, indicating a shift to bearish momentum.
- Trade Execution: When a signal is detected, the EA will first close any opposing positions. Afterward, it will open a new position in the direction of the signal with the lot size, SL, and TP calculated according to the user's selected settings.
Input Parameters (Main Settings)
| Setting | Brief Description |
|---|---|
| Strategy Settings |
|
| Lot Sizing Settings |
|
| Bollinger Bands Settings |
|
| Stop Loss & Take Profit Settings |
|
