The Bollinger Bands Breakout robot is an expert advisor for MetaTrader 4 that trades volatility breakouts using Bollinger Bands. Its idea is simple and powerful: when price moves beyond the standard deviation bands, there is often a strong directional move that the robot takes advantage of automatically.
How it works
The robot calculates the Bollinger Bands on price. It opens a buy when price closes above the upper band and a sell when it closes below the lower band. The exit is managed with fixed Take Profit and Stop Loss levels. It works best on volatile assets and during market expansion phases.
Configurable parameters
- Period: number of candles used to calculate the Bollinger Bands.
- Deviation: standard deviation multiplier that defines the width of the bands.
- Stop Loss and Take Profit: risk and target control per trade, in pips.
- Position size and slippage: lot volume and maximum tolerated slippage.
Recommended requirements
- MetaTrader 4 with a fast execution broker and low spreads.
- Optimize the period and deviation on the asset you want to trade before using it.
File contents: .mq4 source code ready to compile in MetaEditor. We recommend testing it first on a DEMO account.
View the original robot documentation on EarnForex (Apache-2.0 license)
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