Bollinger Bands EA with Opposite-Position Closing and Trade Limits

Summary

This document describes a MetaTrader Expert Advisor that uses Bollinger Bands signals and trades on new bars. A buy signal closes open sell positions, while a sell signal closes open buy positions. Version 2 adds configurable stop loss, take profit, trailing stop, trailing step, and a maximum position count. The EA also checks whether funds are sufficient for a double lot before opening an order.

The document gives an example test setup on EURUSD at the hourly timeframe over a stated date range, but provides no readable performance figures or analysis of the results. It also says the default position count is unlimited, while the newer version adds a maximum-position setting. The description does not specify the precise Bollinger Band conditions that generate buy and sell signals, nor does it establish that the example results will generalize to other markets or settings.

Key ideas

• The Expert Advisor generates trades from Bollinger Bands signals on a new bar.
• A buy signal closes sell positions, and a sell signal closes buy positions.
• Version 2 adds stop loss, take profit, trailing controls, and a maximum position setting.
• Before opening an order, the EA checks funds against a double-lot requirement.
• The document names a EURUSD hourly test but does not provide interpretable performance evidence.

Tags

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