ADX and Bollinger Bands Expert Advisor With One-Position Execution

Summary

This brief description outlines an automated trading strategy built around the Average Directional Movement Index and Bollinger Bands. The EA evaluates signals only when a new bar appears and keeps at most one open position, allowing it to operate on either hedging or netting accounts. Its original idea is credited to Andrey Kornishkin, with the MQL5 implementation credited separately.

The description also says that when an order encounters slippage, the EA attempts to resend it during the same bar. It mentions a test using standard, unoptimized parameters on EURUSD at a 30-minute interval, but supplies no performance figures or details about the entry and exit rules. The brief therefore identifies the indicators and some execution behavior, while leaving the signal construction, risk controls, and test results unspecified.

Key ideas

• The EA uses ADX and Bollinger Bands as its core indicators.
• It checks for trading opportunities when a new bar forms.
• It holds no more than one position at a time and supports hedging and netting accounts.
• After slippage, it attempts to resend an order on the same bar.
• The document mentions an unoptimized EURUSD 30-minute test but reports no results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.