Highly adaptable Bollinger Band Strategy
This expert advisor will trade according to Price crossing the Bollinger Bands Lines.
For each possible crossing:
- Top Line Cross Over
- Top Line Cross Under
- Center Line Cross Over
- Center Line Cross Under
- Bottom Line Cross Over
- Bottom Line Cross Under
The following actions can be selected:
- No action
- Buy
- Sell
- Close Buy Positions
- Close Sell Positions
- Close All Positions
- Alert
The crossings are compared with the current price and either the Close of the previous bar or checking if any part of the previous bar was at the other side of the crossing (High/Low). So this is an option the trader can choose from.
For a consolidated market the actions which make sense would be:
- Top Line Cross Over: Close Buy Positions
- Top Line Cross Under: Sell
- Center Line Cross Over: No Action
- Center Line Cross Under: No Action
- Bottom Line Cross Over: Buy
- Bottom Line Cross Under: Close Sell Positions
For a trending market the actions which make sense would be:
- Top Line Cross Over: Buy
- Top Line Cross Under: No Action
- Center Line Cross Over: No Action or Close Sell Positions
- Center Line Cross Under: No Action or Close Buy Positions
- Bottom Line Cross Over: No Action
- Bottom Line Cross Under: Sell
EA Features:
- Activate/Deactivate Expert Advisor
- Trader can set Take Profit, Stop Loss, Trailing Stop Loss (with Step) and Slippage in pips
- The TSL is activated when the trade is in profit
- Trader can set the maximum number of opened orders
- Trader can set the risk per trade to be calculated automatically or manual lots
- Trader can set the maximum risk of opened orders (a trade in profit liberates its risk for incoming orders)
- Optional Email and Sound Alerts for Orders