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 default or 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
