Bollinger Band JB: Free MT4 Expert Advisor

Overview

One version uses only Bollinger Bands, while the second combines them with RSI to filter entries. The logic enters positions when price crosses specific outer bands and exits based on tighter or wider bands for profit and loss targets. The system includes automated lot sizing based on a risk percentage per trade and uses standard deviation levels to define dynamic exit points.

Indicator-based entry using Bollinger Bands and RSI

Dynamic volatility-based exit levels

Percentage-based risk management for lot sizing

Automated trade management for MetaTrader 4

Details

Author

jblanked on GitHub

Type

Collection

Platform

MetaTrader 4 (MQL4)

Strategy

Mean reversion

Markets

Any symbol

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

Source

github.com/jblanked/Bollinger-Band

Name	Type	Default
`magicNB`	`int`	`555555`
`bbPeriod`	`int`	`50`
`bandStdEntry`	`int`	`2`
`bandStdProfitExit`	`int`	`1`
`bandStdLossExit`	`int`	`6`
`rsiPeriod`	`int`	`14`
`riskPerTrade`	`double`	`0.01`
`rsiLowerLevel`	`int`	`40`
`rsiUpperLevel`	`int`	`60`

Name

Type

Default

Description

magicNB

int

555555

bbPeriod

int

50

bandStdEntry

int

2

bandStdProfitExit

int

1

bandStdLossExit

int

6

rsiPeriod

int

14

riskPerTrade

double

0.01

rsiLowerLevel

int

40

rsiUpperLevel

int

60

How to Install It

1Download the sourceUse "Download source (.zip)" above, or clone jblanked/Bollinger-Band 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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Bollinger Band JB

Overview

Details

Author

Type

Platform

Strategy

Markets

Timeframes

Risk Profile

EA Files

Source

Input Parameters

How to Install It

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