Trading libraries for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
This Expert Advisor is based on a scalping strategy that uses the Bollinger Bands indicator.
The Bollinger Bands indicator reflects the price overbought or oversold conditions, which help to identify the entry or exit points as well as possible trend break-downs. The Bollinger Bands consist of an upper band placed above, and a lower band placed below. The distance between the Bollinger Bands or the width of the bands/channels based on the volatility measure.
The mechanism of this system is similar to the SPD Envelopes Scalper. If the price rises above the upper band and then closes back down inside the Bollinger band indicates a signal to sell. On the other hand, when the price falls below the lower band and closes back inside the Bollinger band, it indicates a buy signal.
This system is suitable for sideways market and medium trend.
Key Features
- Trades on different timeframes, recommended M15.
- Trades on any pair, recommended EURUSD, EURGBP, GBPUSD.
- Initial deposit: $1000+
- This Expert Advisor uses the average position algorithm technique.
- Use only five-digit accounts.
- It is recommended to use very low spread ECN Broker, VPS (Virtual Private Server) is required for faster connections to send orders.
Parameters
- MagicNumber - Magic number to set the ID for each EA
- Lots - initial lot size
- UseLotsize - set as Auto_Lots or Fixed_Lots
- Multiplier - previous lot size will multiplied
- Initial_TP - initial take profit value in points
- MaxSpread - maximum allowable spread value in points
- Slippage - slippage in points
- UseBreakeven - set as true or false
- BE_FIXED - move your stop loss to breakeven point when you get profitable
- Drawdown Percent Settings
- ClosePending - set as true or false
- DDPercent - set the percentage to cut off the loss, % drawdown
- MaxSlippage - maximum allowable slippage in points
- Variable_Settings - use defaultor change values of variables by optimizing
- UseParameters - set as Default or Input
- Default - set parameters for automatically
- Input - enter the parameter value
- BB_Period - averaging period to calculate the main line
- BB_Dev - number of standard deviations from the main line
- BB_Shift - the indicator shift relative to the chart
- BB_Price - applied price, ENUM_APPLIED_PRICE
- News Filter Function
- URL_News "http://ec.forexprostools.com/"
- NewsSymbol - Set true or false, true = download news for only currency on chart, false = download news for all currencies on chart
- BrokerGMTOffset - Your Broker GMT Offset
- LowVolatilityNews - Set true or false for Low Volatility News filter
- ModerateVolatilityNews - Set true or false for Moderate Volatility News filter
- HighVolatilityNews - Set true or false for High Volatility News filter
- NonfarmPayrollsNews - Set true or false for Nonfarm Payrolls News filter
- StopBeforeLowNews - Set minutes for Stop Before Low News
- StopAfterLowNews - Set minutes for Stop After Low News
- StopBeforeModerateNews - Set minutes for Stop Before Moderate News
- StopAfterModerateNews - Set minutes for Stop After Moderate News
- StopBeforeHighNews - Set minutes for Stop Before High News
- StopAfterHighNews - Set minutes for Stop After High News
- StopBeforeNFPNews - Set minutes for Stop Before Nonfarm Payrolls News
- StopAfterNFPNews - Set minutes for Stop After Nonfarm Payrolls News
- CloseAllOrdersBeforeNews - Set true or false for Close All Orders Before News
- DrawNewsLines - Set true or false for drawing the news lines
- LowColor - Set color for Low Volatility News filter
- ModerateColor - Set color for Moderate Volatility News filter
- HighColor - Set color for High Volatility News filter
- Day Of Week Filter Function
- Monday - Set true or false for Monday trading
- Tuesday - Set true or false for Tuesday trading
- Wednesday - Set true or false for Wednesday trading
- Thursday - Set true or false for Thursday trading
- Friday - Set true or false for Friday trading
- Saturday - Set true or false for Saturday trading
- Sunday - Set true or false for Sunday trading
- StartTradeTime - Set time to start trading
- EndTradeTime - Set time to end trading
- Display Settings - apply default or change display position
- Top - distance from the top
- Left - distance from the left
