Introduction
The Bollinger Bands Multi-Currency EA is a powerful Expert Advisor designed to execute trades across multiple currency pairs based on Bollinger Bands reversal conditions. It leverages reversal patterns for precise entries while offering advanced trade management features like group stop-loss and take-profit for portfolio-level control.
You can download the product from here Bollinger Bands Multi Currency EA MT5
Features Overview
Multi-Currency Trading
- Monitor and trade across multiple currency pairs simultaneously.
- Example: EURUSD, GBPUSD, USDCHF .
Bollinger Bands Reversal Strategy
- Bullish Reversal: Previous candle closes below the lower band, and the current candle closes above it (red to green transition).
- Bearish Reversal: Previous candle closes above the upper band, and the current candle closes below it (green to red transition).
- You can find the detailed description for the different strategies here
Group Stop-Loss and Take-Profit
- Automatically closes all trades if the combined profit or loss across all specified pairs reaches predefined thresholds.
Flexible Filters
- Day Filter: Enable or disable trading on specific weekdays.
- Time Filter: Define active trading hours to suit your strategy.
Position Sizing
- Customizable lot size calculation, allowing fixed lots or dynamic sizing based on risk percentage.
Alerts and Notifications
- Receive notifications for trade execution and key events via platform alerts or email.
Input Parameters
Core Indicator Settings
- Bollinger Bands Period: Period for calculating the Bollinger Bands.
- Bollinger Bands Deviation: Standard deviation for the bands.
Multi-Currency Settings
- Pairs:
A comma-separated list of currency pairs to monitor and trade.
Example: EURUSD, GBPUSD, USDCHF .
Group Stop-Loss/Take-Profit Settings
- Group Stop-Loss (in Currency):
Close all trades if the combined loss across all pairs reaches this value.
Default: -100.0 . - Group Take-Profit (in Currency):
Close all trades if the combined profit across all pairs reaches this value.
Default: 100.0 .
Additional Features
Refer to the EA’s settings for configurations related to:
- Day and Time Filters
- Position Sizing
- Alerts and Notifications
How It Works
- The EA evaluates Bollinger Bands reversal conditions on each specified currency pair.
- Trades are executed when reversal conditions are met:
- Bullish Reversal: Red candle below the lower band, followed by a green candle above the band.
- Bearish Reversal: Green candle above the upper band, followed by a red candle below the band.
- All open trades across specified pairs are monitored for cumulative profit or loss.
- If the total reaches the Group Stop-Loss or Group Take-Profit threshold, all trades are closed.