ADD SOME FILTERS IN MY BOLLINGER BANDS EA

ADD SOME FILTERS IN MY BOLLINGER BANDS EA

1) The idea of the trading strategy is as follows

Before started I explain the strategy of the EA. The strategy is based on Bolliger Bands. When candle open below and close above the Bollinger middle band and the next 2 candles open and close above the Bollinger middle band this is a buy signal. When candle open above and close below the Bollinger middle band and the next 2 candles open and close below the Bollinger middle band is a sell signal. The strategy has some close condition filter and a trailing filter.

2)Work to do

The work to do is to add some filters to this strategy by writing them into the source code file of the EA.

3)Filters to add

·         Firstly, add a time range filter to trades:

I don’t want the EA open or hold a position after 20h00 and 2h of the next day. these times are based on GMT+00.

For example, if it opens a trade the 29/05/2024, it will close the trade at 20h00 and not trade until tomorrow 30/05/2024 at 2h where it will open trade again. 

the time range filter must have some input variables for activate or not the time range filter and for choose the range period time to apply it.

·         Secondly, only open a trade per candle when conditions are mets:

the EA has opened and close several times positions on the same candle. I don’t want this to happen I want only one trade per candle. Even if stop loss is hit it needs to wait for the next confirmation before taking a position.

·         Range bar breakout filters

The third filter is a range bar breakout filter. The EA will not take a trade when it will face up to a ranging market. The range filter breakout needs to have some inputs variables for choosing:

-the number of bars to define the range zone;

-the range height to define the range height;

-the numbers of candles after breakout for breakout confirmation: When the breakout candle will appear, set an input of number of bullish candles or bearish candles to wait after the breakout candle before reactivate trades. those bullish candles must open and close above the closed price of the breakout candle for range highest breakout. And the bearish candles must open and close below the closed price of the breakout candle for range lowest breakout.

5)  Add a multiply factor recovery

Add a multiplier factor recovery to apply to the next trade after a loss. This filter must have some input parameters for choosing:

-the factor number in double;

- the number of successive losses before applying the multiplication;

-activate or not activate the multiply factor.

4) Testing

For fast and reliable testing to see if it works. I suggest to use the default parameters of the EA on 15 minutes timeframes for “Volatility 10” pair. You can find this pair in deriv broker synthetic index MT5 account.

5) Files to send

At the end of the work, you will send me the source code of the EA and the ex5 file.