About the Bollinger Bands Expert Advisor
The Bollinger Bands Metatrader 4 Forex Robot is an expert advisor that follows the rules of the extremely popular Bollinger Bands technical indicator.
It works in agreement with two moving averages to execute automated market entries and exits on any pair.
This robot functions best on the 30-minute, 1-hour, and 4-hour time frames on major currency pairs like the EUR/USD, USD/JPY, USD/CAD, GBP/USD, AUD/USD,…
To get the best out of this forex trading robot, experiment with the values assigned to the indicators’ input variables.
This EA has a good win rate.
Free Download
Download the “1H Bolinger Bands VI.mq4” MT4 robot
Key Features
Automated Bollinger Bands Trading
The EA automatically executes buy and sell orders based on price interaction with the Bollinger Bands, reducing manual intervention.
Dynamic Trailing Stop
Automatically adjusts stop loss as the trade moves in your favor, locking in profits while letting winners run.
Break-Even Function
Moves stop loss to break-even after reaching a set number of pips in profit, protecting your capital from reversals.
Customizable Risk Management
Allows traders to adjust lot sizes, stop loss, take profit, and maximum risk per trade to match their strategy.
Multi-Timeframe Compatibility
Works on multiple timeframes, including M15, M30, H1, and H4, giving flexibility for different trading styles.
Optimized for Major Pairs
Performs best on high-liquidity currency pairs such as EUR/USD, GBP/USD, and USD/JPY.
Backtesting Support
Fully compatible with MT4 Strategy Tester for historical testing and parameter optimization.
Strategy Tester Report
Find below the Bollinger Bands forex robot strategy tester report for the EUR/USD forex pair on the 30-minute chart.
Key Performance
The EA made a total profit of $893.82 from a total of 65 trades.
The largest winning trade generated $69.74 in profits, while the largest losing trade generated a loss of $82.97.
Statistics:
Bars in test: 11253 ticks modelled
Initial deposit: $50000.00
Total net profit: $893.82
Total trades: 65
Largest profit trade: $69.74
Largest loss trade: -$82.97
Consecutive wins: 12
Consecutive losses: 1
How the EA Works
- Monitors price action relative to the Bollinger Bands.
- Opens buy orders when the price touches or crosses the lower band and sell orders when it touches or crosses the upper band.
- Utilizes moving averages to confirm trade direction.
- Applies stop loss, take profit, and trailing stop based on user-defined settings.
- Automatically adjusts stop loss to break-even after a specified number of pips in profit.
Download Now
Download the “1H Bolinger Bands VI.ex4” Metatrader 4 robot
Parameters & Settings
- Enable “No Loss”: Activates break-even functionality.
- When to Move to Break Even: Sets the number of pips in profit before moving the stop loss to break-even.
- How Much Pips to Move Stop-Loss: Defines the distance to move stop loss after a specified number of pips in profit.
- Lot Size: Determines the trade volume.
- Maximum Risk: Sets the maximum allowable risk per trade.
- Decrease Factor: Adjusts the risk per trade based on account balance.
- Trailing Stop: Enables trailing stop functionality.
- Stop Loss: Sets the stop loss level.
- Magic Number: Unique identifier for trades placed by this EA.
- Take Profit: Sets the take profit level.
Recommended Trading Setup
- Pairs: EUR/USD, USD/JPY, GBP/USD.
- Timeframes: 30-minute, 1-hour, 4-hour.
- Broker: ECN or low-spread broker recommended for fast execution.
- Account Type: Standard or ECN with reliable execution.
- Risk Management: 1–2% per trade for account stability.
FAQ
Can I run this EA on a VPS for 24/7 trading?
Yes, running the EA on a VPS ensures continuous trading and faster order execution, even when your computer is off.
Does the EA require any additional indicators?
No, the Bollinger Bands EA works independently and does not require any external indicators to function.
How often should I update the EA?
Regularly check for updates from LucyForex to ensure you have the latest features and performance improvements.
Can I use the EA on micro or cent accounts?
Yes, the EA is compatible with micro and cent accounts, but make sure to adjust lot sizes and risk settings accordingly.
Is this EA compatible with MT5?
No, this version is designed for MetaTrader 4. You need the MT4 platform to run the Bollinger Bands EA.
Summary
The Bollinger Bands EA for MT4 is an advanced automated trading solution designed to maximize profits and minimize risk using dynamic trailing stops.
It works across multiple pairs and adapts to market trends efficiently.
By configuring parameters to match your account size and preferred risk level, traders can capture extended trends while locking in profits.
