Bollinger Band Breakouts Triggering Four-Level Pending Stop Orders

Summary

This automated strategy monitors Bollinger Bands on every price tick and places pending stop orders after price breaks a band at the distance associated with the widest configured level. A break above the upper band triggers four sell stop orders, while a break below the lower band triggers four buy stop orders. The four order levels are configurable and must be arranged from the smallest spacing to the largest, creating a staged order layout around the detected move.

The expert advisor is intended only for hedge accounts. Users can set expiration times for pending orders and choose fixed lot sizes or risk-percentage sizing. Stop loss, take profit, and trailing stop controls can each be disabled. The document shows sample use on EURUSD and USDJPY hourly charts, but provides no performance statistics, backtest, or explanation of how the order levels or exits should be calibrated. Band breaks can occur during continued trends as well as reversals, so the document alone does not establish that the counter-direction stop orders are profitable or control risk.

Key ideas

• The advisor watches Bollinger Bands on each tick and responds to a band break at the widest configured level.
• An upper-band break places four sell stop orders, while a lower-band break places four buy stop orders.
• The four order spacings are configurable and must increase from the first level to the fourth.
• Pending order expiry and fixed or risk-percentage position sizing are available.
• Stop loss, take profit, and trailing stop settings can be disabled, and no performance evidence is provided.

Tags

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