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Bollinger Bands MT5 EA

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$74.00

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Bollinger Bands Expert Advisor uses the Bollinger Bands indicator that comes with MetaTrader 5 and can successfully trade according to the price interaction with the BB bands. There are 2 major ways to open trades according to the BB bands:

  • Price Breakout – trade long whenever the price exits the Bollinger Band upwards, or trade short when the price drops below the BB lower level
Bollinger Bands trade strategy
How to trade BB breakouts
  • Price Reverse – trade long when the price bounces upwards from the lower BB level or trade short when the price drops after bouncing from the upper BB level
Bollinger Bands reverse strategy
How to trade within the Bollinger Bands channel

Another way to trade Bollinger Bands strategy is to simply enter long or short whenever the price crosses the middle line upwards/downwards.

Regardless of the BB entry signals, the bands can also be used to determine the overall trend. A falling BB channel signals that there is a downtrend while a rising channel means that there is an uptrend. According to the price trend, the trader can decide whether to buy or to sell and therefore increase the chance of winning a trade while decreasing the risks.

The BB EA settings allow the trader to determine what entry signals to follow. Besides the self explanatory ones such as Take Profit, SL, Lotsize, here are the BB EA specific settings explained:

settingsBB

  • Distance from BB band – this can be used to filter fake signals and determines the distance (pips) that the entry signal must be away from the BB band, in order for the trade to open. For example, when trading breakout, if the price breaks upwards but at that moment the price is not at least 10 pips away from the upper band level (according to the settings above), the trade will not be placed. To cancel this filter enter 0.
  • Maximum buys/sells determine the number of buys/sells allowed to be opened at any moment. Therefore, if there are 3 long trades opened on the chart, the EA will not open any other buys.
  • When to trade:

– Middle band cross: enters a buy/sell when the price crosses the BB middle

– Upper band breakout: enters a buy when the price closes above the upper band

– Upper band reverse: enters a sell when the price bounces from the upper band and drops

– Lower band breakout; enters a sell when the price closes below the lower band

– Lower band reverse: enters a buy when the price bounces back from the lower band

Below are more details about the Bollinger Bands history, how to trade BB and other useful Bollinger Bands strategy tips:

Bollinger Bands, developed by John Bollinger in the 1980s, are a popular technical analysis tool used to measure market volatility and identify potential overbought or oversold conditions. They consist of three lines: a simple moving average (SMA) in the middle, and two standard deviation lines (upper and lower bands) that adjust based on market volatility.

Components of Bollinger Bands

  1. Middle Band: This is typically a 20-period SMA.
  2. Upper Band: This is the middle band plus two standard deviations.
  3. Lower Band: This is the middle band minus two standard deviations.

The bands expand and contract based on market volatility. When the market is volatile, the bands widen, and during periods of low volatility, they contract.

Trading Strategies Using Bollinger Bands

  1. The Squeeze: This strategy involves looking for periods where the bands contract, indicating low volatility. A squeeze often precedes a significant price movement.
  2. Breakouts: When the price moves outside the bands, it can indicate a strong trend. A move above the upper band suggests a bullish trend, while a move below the lower band suggests a bearish trend.
  3. Reversals: If the price touches the upper band, it may be overbought, and if it touches the lower band, it may be oversold.
  4. Double Bollinger Bands: Some traders use two sets of Bollinger Bands to identify stronger signals. For example, one set with 1 standard deviation and another with 2 standard deviations.

Bollinger Bands are a versatile tool that can help traders identify market conditions and potential trading opportunities. By understanding how to interpret and apply them in MetaTrader, traders can enhance their decision-making process and potentially improve their trading outcomes. Always remember to use Bollinger Bands in conjunction with other indicators and analysis techniques to confirm signals and manage risk effectively.

Free download BB EA
Platform

MT5

License Type

Standard

After the payment, there are two ways to get the RobotFX EA/indi, depending on the license type:

  1. Direct Download : for Standard license type products, the download link will become visible after the payment (registered customers will also be able to find their downloads under Account > Downloads section)

  2. Email Delivery : Extended license type customers are required to send us their trading platform (MT4/MT5) and live trading account numbers (maximum of five) so we can customize their product. The personalized trading tool will be emailed to the customer email as soon as compiled and bound to their account numbers

* Check the Item specifics tab to determine what type of license applies to this product.

RobotFX trading tools are always in .ex4 / .ex5 filetype format. We suggest the MQL RobotFX website to traders looking for open source code (.mq4 and .mq5) (these are not made by RobotFX Traders).

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Customer reviews

2 reviews
100% of buyers enjoyed this product!
5 stars
( 2 )
4 stars
( 0 )
3 stars
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2 stars
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1 star
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  1. Kristian Beck (verified owner)

    The Bollinger Bands MT5 EA is a fantastic addition to any trader’s toolkit! Its seamless integration and accurate execution of trades based on the Bollinger Bands strategy make it a standout choice. The EA’s user-friendly interface and consistent performance are truly impressive. A must-have for anyone serious about trading!

    1 product
  2. Kaden Black (verified owner)

    The Bollinger Bands MT5 EA is an exceptional trading tool! It effectively leverages the Bollinger Bands strategy to automate trades with precision. The EA’s performance is reliable, making it a valuable asset for both novice and experienced traders. Highly recommended for anyone looking to enhance their trading efficiency!

    1 product

RobotFX

4.8Out of 5 stars

Overall rating out of 30 Google reviews

Manal Alqahtani
5 years ago

It's a very good company and shows that its services are excellent

Johnny Fash Eee
5 years ago

Great

Dgjbxdr Cggcsdj
5 years ago

Great job on the last EA

Awesome service. Thank you RFX

George Simmons
5 years ago

I found the program to be very intuitive and easy to use, even for a beginner like me. The RobotFX team was also very friendly and they took time to help me get started.

Great support and good trading tools

Wilton avendaño
6 years ago

Wow is a great experience all you can see here and easy to understand, fully recommended!

D2 MOVIES
6 years ago

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winners ganar
6 years ago

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Kaveesh dilhara
6 years ago

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debjeet ghosh
7 years ago

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Fragio Velper
7 years ago

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Jorge Medina
7 years ago

AMAZING PRODUCT, IT IS VERY USEFUL.

Shahin Miah
7 years ago

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sujina maharjan
7 years ago

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Janardan Sharma
6 years ago

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Fatna Bilani
6 years ago

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