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
Bollinger Bands EA
This MetaTrader 5 expert advisor executes trades based on price interactions with Bollinger Bands.
GitHub stars1
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Last update2 years ago22 Jul 2024
LicenceNone stated
Overview
Bollinger Bands EA identifies potential mean-reversion opportunities by looking for candles that close outside the upper or lower bands. The robot includes a trend-following filter using a Simple Moving Average to align entries with broader market direction. Risk management features include fixed lot sizing and dynamic stop loss and take profit targets based on the distance between the bands. As the repository lacks a README, the functionality is defined primarily through the provided source code.
- Bollinger Bands mean-reversion signals
- Moving Average trend filter
- Dynamic stop loss and take profit calculation
- Customizable indicator periods and deviation
Details
Author
mertbilginnn on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion
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 Bollinger Bands EA.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Lots | double | 0.1 | |
ClosePercent | double | 30 | |
SlFactor | double | 2 | |
TpFactor | double | 0.5 | |
Timeframe | ENUM_TIMEFRAMES | PERIOD_CURRENT | |
Periods | int | 20 | |
Deviation | double | 2.0 | |
AppPrice | ENUM_APPLIED_PRICE | PRICE_CLOSE | |
IsMaFilter | bool | true | |
MaTimeframe | ENUM_TIMEFRAMES | PERIOD_CURRENT | |
MaPeriods | int | 200 | |
MaMethot | ENUM_MA_METHOD | MODE_SMA |
Show all 13 inputs
| Name | Type | Default | Description |
|---|---|---|---|
MaAppPrice | ENUM_APPLIED_PRICE | PRICE_CLOSE |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone mertbilginnn/Bollinger-Bands-EA 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.
- 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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