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Bands trend

This trend Expert Advisor is based on an original interpretation of the Bollinger Bands indicator. This signal generation method allows entering the market at the very beginning of the trend with a tight stop loss.

The EA contains 6 options for position closure signals, which allows selecting the best one depending on the instrument, as well as market conditions. All positions are protected by virtual and fail-safe stop loss. The virtual stop loss triggers only after a bar closes beyond its level, as in the Interactive Stop Loss utility,protecting the position from closure at sharp price spikes. The fail-safe stop loss limits the losses if the price spike is too large. The virtual stop loss can be disabled in the settings, and the EA will only use the regular stop loss. As soon as the price starts reverting in the unprofitable direction, the EA moves the stop loss to the breakeven level, which prevents the position from closing with a loss in case of a sudden price reversal. The volume can be managed using any of the 3 functions. These include a static lot, lot based on risk management and lot proportional to the free margin (equity). Also, the EA has a limit on the trading time. This is a limit by the months of the year, the days of the month, the days of the week. As well as the standard trading sessions — European, Asian and American. The EA provides a feature to set a custom trading session time. Time in the expert is set by Greenwich Mean Time.

The EA has been tested on EURUSD. Any instrument with clear trends can be used in trading. The input parameters for any specific instrument are selected using optimization. Recommended timeframe: H1.

The input parameters are divided into blocks.

Main Parameters

  • timeframe - timeframe of the EA
  • ea_magic - number for the EA trades
  • slippage - the maximum allowed price deviation for opening a position

Volume management

  • lot_management - volume management function
  • ea_volume - volume (lot_management: Static lot)
  • ea_perc_risk - risk percentage according to risk management (lot_management: Lot by RM)
  • risk_for_virtual_sl - risk according to virtual SL (lot_management: Lot by RM)
  • ea_perc_equity - lot calculated as a percentage of Equity (lot_management: Lot by equity)

Stop loss parameters

  • stop_loss - stop loss in points
  • virtual_sl - use virtual stop loss
  • k_sl_belay - how many times the safety SL is farther than the virtual SL

Break-even parameters

  • breakeven_use - use breakeven
  • bk_lv - breakeven in points
  • close_if_not_sl_to_bk - close the order if the price is too close and SL cannot be moved to breakeven
  • deal_n_bars_min - the minimum number of bars to activate breakeven when a reverse bar appears

Market entry parameters

  • flat_at_first - enter only after a flat
  • Parameters of Bollinger Bands (similar to the Super Bollinger Bands indicator): bb_period, bb_dev, bb_shift, bb_price, cmp_dev

Market exit parameters

  • close_on_first_back_bar - exit at the first reverse bar
  • deal_close_type - market exit function
  • Exit by Stochastic (deal_close_type: Stochastic (1)/(2)): sto_k_period, sto_d_period, sto_slowing, sto_ma_method, sto_price_field, sto_h, sto_l
  • Exit by RSI (deal_close_type: RSI): rs_ma_period, rs_price_field, rs_h, rs_l
  • Exit by WPR (deal_close_type: WPR): wp_clc_period, wp_l, wp_h
  • Exit by TriX (deal_close_type: TriX): tx_ma_period, tx_price_field
  • Exit by Bulls/Bears Power (deal_close_type: Bulls/Bears Power): blbr_ma_period

Limitation of trading by time

  • Limitation by the months of the year: session_by_months_of_year_use - use, january - december
  • Limitation by the days of the month: session_by_day_of_month_use - use, day_1 - day_31
  • Limitation by the days of the week: session_by_day_of_week_use - use, monday - friday
  • Trading session: session - session type, european_use, asian_use, american_use
  • Custom trading session: custom_open_h - opening hour, custom_open_m - opening minute, custom_close_h - closing hour, custom_close_m - closing minute
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