EA31337 Libre is an open-source, multi-strategy trading robot for MetaTrader 4 and MetaTrader 5. It functions as a simplified implementation of the EA31337 framework, providing a collection of over 35 built-in strategies based on technical indicators. The expert advisor performs independent market analysis across vario
Trading robot · MT5
Basic Bollinger Bands EA
This MetaTrader 5 expert advisor utilizes the Bollinger Bands and Parabolic SAR indicators to execute trades based on market volatility.
GitHub stars21
Forks6
Last update5 years ago13 Feb 2021
LicenceMIT
Overview
Basic Bollinger Bands EA functions as an entry-level algorithmic trading template, allowing users to modify strategy logic or optimize parameters using the MT5 Strategy Tester. The bot manages risk through fixed stop loss and take profit levels for both long and short positions, complemented by a built-in trailing stop mechanism. It uses a static lot sizing approach and is designed as a foundation for further development.
- Volatility-based entry signals via Bollinger Bands
- Integrated Parabolic SAR indicator support
- Adjustable trailing stop and step parameters
- Independent stop loss and take profit for buys and sells
Details
Author
terencebeauj on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion, Trend following
Markets
Forex
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from Basic_Bollinger_Bands.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
my_magic_number | long | — | |
my_slippage | int | — | |
my_volume | double | — | |
my_sl_buy | unsigned int | — | |
my_tp_buy | unsigned int | — | |
my_sl_sell | unsigned int | — | |
my_tp_sell | unsigned int | — | |
TrailStop | double | 100 | |
TrailStep | double | 50 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone terencebeauj/Trading_bot_BollingerBands from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts, and any .mqh files into the Include folder the code expects.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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