Bollinger Bands N positions v2 – EA MetaTrader 5

A further development of Bollinger Bands N positions.

An Expert Advisor based on the iBands (Bollinger Bands) indicator. When a signal is received, the EA closes opposite positions (see ‘Features’ for details).

What’s new in version 2

• Stop Loss – the Stop Loss value (0 disables the parameter);
• Take Profit – the Take Profit value (0 disables the parameter);
• Trailing Stop – the Trailing Stop value (0 disables the parameter);
• Trailing Step – trailing step (if “Trailing Stop” is enabled, “Trailing Step” MUST NOT be set to zero!);
• Max positions – a limit on the number of positions (the minimum allowed value is “1” position).

Features

• Works on a new bar;
• The number of positions is not limited;
• If a BUY signal is received, all SELL positions are closed;
• If a SELL signal is received, all BUY positions are closed;
• Before opening an order, a check is performed if there are enough funds for a double lot.

Testing with default parameters on EURUSD, H1, from 2017.06.06 to 2018.04.10:

Input Values

• Trade parameters:
  • Lots – the volume of position to open;
  • Stop Loss (in pips) – the Stop Loss level;
  • Take Profit (in pips) – the Take Profit level;
  • Trailing Stop (in pips) – trailing value
  • Trailing Step (in pips) – trailing step value
  • Max positions – the maximum number of open positions allowed at one time.
• Bollinger Bands parameters:
  • period of moving average – period for calculating the average line;
  • shift – horizontal shift of the indicator;
  • number of standard deviations – number of standard deviations in the indicator;
  • type of price – the price used for calculations.
• Arrow parameters – signal visualization parameters:
  • color of signs Buy;
  • color of signs Sell.