This is an expert that uses MACD and Bollinger Bands as the main recipe of an operation.
The main objective of this algorithm is to recognize good price movement reversal zones.
Bollinger Bands: occurs when price reaches/passes a certain distance between the mid-band and the external band.
MACD: Histogram above Signal Line, and both are positive, Sell signal. Histogram below Signal Line and both are negative, Buy signal.
Confirmation Signal: can be either Bollinger or MACD signal, used on a higher timeframe.
Trade occurs when the number of positive signals are equal to the necessary number of signals to open a position.
Please make sure to strategy test the bot before using it on real money, you need to learn how to use it to understand.
This is how to configure MACDBBot Inputs
- EA Number
- GUI Position
- Draw Indicators =(live mode only);
- TimeFrame Confirmation = must be a multiple (integer and positive) of the current timeframe.
- TimeFrame Signal Confirmation
- Number of Signals to Confirm
- Lots to trade(volume) = used on Autolot as standard lot too
- Initial Deposit
- Global Max DD = removes expert once triggered
- Global Drawdown Balance Type
- Local Max DD = freezes expert until next day
- Local Drawdown Balance Type
- Global Alert
- Autolot Size = Amount of money to use the standard lot size
- Autolot Step = amount of money to change current lot size
- StopLoss = amount of times that the point value will be added/subtracted from the price to create a stop loss range, 0 = off;
- TakeProfit = amount of times that the point value will be added/subtracted from the price to create a take profit range;
- TrailingStop = amount of points to work with the moving stop on the position;
- Trailing Type = type of trailing stop to use
- Parabolic Settings = self-explanatory if using P. SAR
- Bollinger Multiplier = accelerates the bollinger trailing system.
- Breakeven Trigger in Points = number of points to trigger breakeven function.
- Trend Filtering Configuration = selects the Timeframe and the difference between two M.A. based on Heiken Ashi.
- Trade reversal system = if "true" will use opposite trading signals to reverse the current position;
- Use one opened position at time = self-explanatory.
- End Day Position Closing Filter = self-explanatory, works with "End Time" input.
- Price Deviation = the biggest deviation from the current price that will be accepted before opening an order;
- Bollinger Bands Average = self-explanatory;
- Bollinger Bands S.D. = self-explanatory;
- Bollinger Bands Trigger Distance (in) = distance between external band and middle band to send an (in) signal as soon as the price reaches/crosses this distance. Used in percentage of price (0-1 = 0% - 100%).
- Bollinger Bands Trigger Distance (out) = distance between external band and middle band to send an (out) signal as soon as the price reaches/crosses this distance. Used in percentage of price (0-1 = 0% - 100%). If value = 999, will use the same distance from the (in) signal.
If BB_SDOD_out = 999, it will use the same value from BB_SDOD_in.
- MACD Signal Period: self-explanatory;
- Slow EMA Period: self-explanatory;
- Difference between Slow and Fast EMA: self-explanatory;
- Confirmation MACD Conf = used when the confirmation signal is "MACD". These are its settings.
- Developer Mode = should be left as "false". Check updates tab for more information.
- -Bollinger Bands S.D.O.D. = this value sets the major behavior of Bollinger Bands on the strategy. Higher inputs means less dependency of the Bollinger Bands for the strategy.
- -Runs only on a new candle (except Money Management). Open Prices Only can be used on optimization.
If you find any error, please report it. I will try my best to fix it as soon as possible.
- Fixed the risk management for lot calculation system
- Fixed minor GUI bugs
-Fixed a problem within Confirmation Signal (higher TF indicator)
-Fininshing the current update started on v1.7 this update brings the complete rework on the Time Filter system with an enable/disable input and the possibility to use different combinations on Start Time, End Time and Closing Time:
-Start Time can be bigger than End Time: start trading at 8 a.m. and stop trading at 2 a.m.
-Start Time can be smalle than End Time: start trading at 2 a.m. and stop trading at 11 p.m.
-When time reaches Closing Time it will close opened positions based on their type (profitable, non-profitable, all)
-Fixed a problem on decimal places of Variable Lot where 1 would still mean 100% instead of the desired 100 = 100% effect of the input
-Fixed input values on % system, on v1.7 (1 = 100%), now on v1.8 (100 = 100%) for better human understading on system inputs
-Opening Positions and Closing Positions Time Filtering
-Risk based Lot on % of margin/deposit
-Main Signal System
-New Out System based on main signal and trend filter
-Trend Filter based on Heiken Ashi Color Change, Heiken Ashi MA Cross and Both
-Out Signal Count on position GUI
-Bollinger Bands based Trailing Stop
-Variable lot by step size
-Bollinger Closing Trigger Type
-Optional Global Drawdown Alert
-Swap and Comission from position GUI
After two weeks of developing a way to properly implement new functions on this expert without increasing the complexity of the system I was finally able to launch this new update with a lot of changes that will be able to simplify and upgrade existing functions including new ones that allows the user to create new setfiles with even better controls on what the expert is going to do. Plus, new images containing easy explanations on how MACDBBot features works and how to use them on your setfiles and strategies, so, feel free to ask and to make questions either on the comment sections or even on private messages, I will be glad on helping you out!
-Fixed a unit conversion problem on the Trailing Stop parameter
-Added a maximum value parameter for the Slow EMA on the MACD indicator (better for optimization)
-Fixed minor bugs on GUI
-Fixed a typo on the MACD parameters which could lead to erroneous use of the expert
-Added the Breakeven function triggered by points
-Added the "Difference between Slow and Fast EMA" for MACD parameters
-Fixed a problem within "Number Of Signals to Confirm" parameter
-Rework on the Band Breaking Signal (Both In/Out)
- Operational Updates:
-> The new feature of this version is the "Trend Filtering" which filters signals that are against the current trend on the symbol. The Trend Detection is based on two moving averages built over Heiken Ashi candles. You can define the period of the first MA and the difference between them.
The current trend is showed on the GUI.
There are a few more features coming up on future releases so stay tuned and please, if you have any comments or requests on MACDBBot that you think that could be useful for all the community using this expert, please tell me on PM or even on the Comments section, I'll be glad to hear you!
As always, I wish you the best of profits.
-> Expiration Settings: date to expirate expert settings. Since what worked on the past has no guarantee to work on the future, now you can set a limit date to use the current settings. Expert will be removed from the chart once the date expires.
-> Lot Modifier: when your balance worth the same amount of the Autolot Size, your next position volume will be the "fixed Lot input" value. When your balance changes by an amount of "autolot step", it will modify the lot size by the minimal lot step times the amount of steps that changed on your balance. If you start with 1000 USD with fixed lot of 1 and step of 100, once your balance reaches 900 USD, it will use 0.99 as lot if the minimal lot step is 0.01 (intrinsic of symbol) and will use 1.01 if your balance reaches 1100 USD.
-> Local Max Drawdown: amount in % of your selected drawdown balance that the expert can afford to lose in a single day (local). If expert reaches this max amount of loss it will freeze itself until next working day.
-> Global Max Drawdown: amount in % of your selected drawdown balance that the expert can afford to lose at all times (global). If expert reaches this max amount of loss it will remove itself from the chart and alert you if you enable the input to receive Max Drawdown alerts.
As always, I wish you the best of luck, the best of profits, and best regards,