Bollinger Band Breakout

MQL4 Experts

Job finished

Execution time 12 days

Specification

hi,

 I require a simple bollinger band breakout EA.

 

This EA is to enter a buy when the price bar closes above the bollinger band and it is to sell when the price bar closes below the bollinger band.

Additional conditions are as follows:

 - Bollinger Band Width (distance between the top BBand and bottom BBand) < XX pips, then a trade can be activated.

 - When price is above EMA(YY), then only a Buy trade can be enter. When price is below EMA(YY), then only a Sell trade can be enter. 

Both conditions can be switched on or off.

 

After trade is entered, there is to be a Take Profit value. There is also to be a Trailing Stop and this starts when the trade hits CC pips.

TP = AA pips

SL = BB pips

Trailing Stop Starts = CC pips

Trailing Stop Step Size = DD pips (determines how many pips before the EA modify the trade's Stop-Loss)

Trailing Stop = EE pips

 

When the trade loses, the EA is to use a simple hedging grid as follows:


Example: 


EA enters a Buy Trade #1.


- Buy Trade #1 loses XX pips, EA will enter a #2 Buy Trade (lot size is same as #1) 


- Buy Trade #2 loses XX pips, EA will enter a #3 Buy Trade (lots size is YY x Lot size of #2)


- Buy Trade #3 loses XX pips, EA will enter a #4 Buy Trade (lots size is YY x Lot size of #3) 


- Buy Trade #4 loses XX pips, EA will enter a #5 Buy Trade (lots size is YY x Lot size of #3)  


 When sum of total pips of all trades = AA pips, close all trades together. (i.e. #1 pips + #2 pips + #3 pips etc = AA)


The number # of trades entered will be based on extern parameters.


 


extern parameters:


Grid Size : XX pips


Multiplier Starts: 3 (This will determine which grid trade the multiplier will starts.. before this trade, the lot size will be the same as trade #1)


Multiplier : YY (decide the multiplier when the multiplier starts for the grid)


Max Number of Grid Trades : ZZ


Total TP Pips = AA pips 

 

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