This MetaTrader 4 expert advisor is a scalper designed for the five-minute timeframe across several Forex pairs. It utilizes three strategies based on overbought and oversold market conditions to execute trades. Risk management features include a fixed hard stop loss, a virtual take profit and stop loss derived from an
Trading robot · MT4
BBS Expert
This MetaTrader 4 expert advisor implements an automated trading strategy based on the Bollinger Bands indicator.
GitHub stars1
Forks0
Last update4 years ago3 Dec 2021
LicenceNone stated
Overview
BBS Expert monitors price positions relative to the upper, lower, and middle bands on the H1 timeframe. The EA uses a series of threshold parameters to determine entry and exit points, as well as the deletion of orders during specific market ranges. Risk is managed through a fixed lot size and a two-stage trailing stop system. The README emphasizes that the strategy is designed for the forex market and requires significant optimization of parameters like the Bollinger period and point thresholds before deployment.
- Bollinger Bands indicator integration
- Two-stage trailing stop mechanism
- H1 timeframe specific logic
- Threshold-based order management
Details
Author
AliFadaei90 on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion
Markets
Forex
Timeframes
M15-H1
Risk profile
- Trades without a fixed stop loss
EA files
Input parameters
Read from BBS_Expert.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
T1 | int | 2 | T1-Opening Near Bollinger (ABS) |
T2 | int | 3 | T2-Near Main (ABS) |
T3 | int | 5 | T3-Deleting Overbound |
T4 | int | 9 | T4-Closing Near Bollinger (ABS) |
T5 | int | 9 | T5-Delete for Range on Bollinger (ABS) |
T6 | int | 3 | T5-Delete for Range On (ABS) |
Traill1 | int | 8 | First Trail Modification on Main |
Traill2 | int | 27 | Second Trail Modification on Main |
Overbond | int | 43 | Overbound Positions |
n | int | 37 | Number of Candlle Range |
l | double | 0.02 | Lots |
b | int | 235 | Bollinger Period |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone AliFadaei90/Automatic_trading from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 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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