BOLLINGER BANDS Expert Advisor for MT4
Step 1.
create BOLLINGERBANDSROBOT file in expert folder and
Step 2. copy paste code given below on your BOLLINGERBANDSROBOT file :
//code start
//+------------------------------------------------------------------+
// BOLLINGER BANDS EA AUTOROBOT
//https://forexwithcandlestick.blogspot.com
//
// Disclaimer: This EA is provided to you without any warranty
// Please use first on demo account before live account
// We WILL not responsible for
// FOR ANY LOSS OF USE, REVENUE OR PROFIT, LOST OR DAMAGED DATA, OR OTHER COMMERCIAL OR
// ECONOMIC LOSS OR FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, STATUTORY, PUNITIVE,
// EXEMPLARY OR CONSEQUENTIAL DAMAGES WHATSOEVER RELATED TO YOUR USE OF THIS EA OR
// FOREXEADVISOR STRATEGY BUILDER
//
// USE THIS EA AT YOUR OWN RISK.
//
// Before adding this expert advisor to a chart, make sure there are NO
// open positions.
//
//+------------------------------------------------------------------+
//+------------------------------------------------------------------+
extern int MagicNumber=10001;
extern double Lots =0.01;
extern double StopLoss=0.00;
extern double TakeProfit=50.00;
extern int TrailingStop=15;
extern int Slippage=3;
//+------------------------------------------------------------------+
// expert start function
//+------------------------------------------------------------------+
int start()
{
double MyPoint=Point;
if(Digits==3 || Digits==5) MyPoint=Point*10;
//symbol, period,20 candles, deviation 2, no shift, close price, candle
double LowerBB=iBands(_Symbol,_Period,20,2,0,PRICE_CLOSE,MODE_LOWER,1);
double UpperBB=iBands(_Symbol,_Period,20,2,0,PRICE_CLOSE,MODE_UPPER,1);
// calculate the candle before
double PrevLowerBB=iBands(_Symbol,_Period,20,2,0,PRICE_CLOSE,MODE_LOWER,2);
double PrevUpperBB=iBands(_Symbol,_Period,20,2,0,PRICE_CLOSE,MODE_UPPER,2);
//--------------------------------------------------------------------
double TheStopLoss=0;
double TheTakeProfit=0;
if( TotalOrdersCount()==0 )
{
int result=0;
//symbol, period,20 candles, deviation 2, no shift, close price, candle
// if price is above the last close
if (Ask>Close[1])
//if close2 was below lower band
if (Close[2]<PrevLowerBB)
//if close1 was above lower band
if (Close[1]>LowerBB)
{
result=OrderSend(Symbol(),OP_BUY,AdvancedMM(),Ask,Slippage,0,0,"Bollinger Band Robot https://forexwithcandlestick.blogspot.com",MagicNumber,0,Blue);
if(result>0)
{
TheStopLoss=0;
TheTakeProfit=0;
if(TakeProfit>0) TheTakeProfit=Ask+TakeProfit*MyPoint;
if(StopLoss>0) TheStopLoss=Ask-StopLoss*MyPoint;
OrderSelect(result,SELECT_BY_TICKET);
OrderModify(OrderTicket(),OrderOpenPrice(),NormalizeDouble(TheStopLoss,Digits),NormalizeDouble(TheTakeProfit,Digits),0,Green);
}
return(0);
}
// if price is bellow the last close
if (Bid<Close[1])
// if close2 was above upper band
if (Close[2]>PrevUpperBB)
// if close is below upper band
if (Close[1]<UpperBB)
{
result=OrderSend(Symbol(),OP_SELL,AdvancedMM(),Bid,Slippage,0,0,"Bollinger Band Robot https://forexwithcandlestick.blogspot.com",MagicNumber,0,Red);
if(result>0)
{
TheStopLoss=0;
TheTakeProfit=0;
if(TakeProfit>0) TheTakeProfit=Bid-TakeProfit*MyPoint;
if(StopLoss>0) TheStopLoss=Bid+StopLoss*MyPoint;
OrderSelect(result,SELECT_BY_TICKET);
OrderModify(OrderTicket(),OrderOpenPrice(),NormalizeDouble(TheStopLoss,Digits),NormalizeDouble(TheTakeProfit,Digits),0,Green);
}
return(0);
}
}
for(int cnt=0;cnt<OrdersTotal();cnt++)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderType()<=OP_SELL &&
OrderSymbol()==Symbol() &&
OrderMagicNumber()==MagicNumber
)
{
if(OrderType()==OP_BUY)
{
if(TrailingStop>0)
{
if(Bid-OrderOpenPrice()>MyPoint*TrailingStop)
{
if(OrderStopLoss()<Bid-MyPoint*TrailingStop)
{
OrderModify(OrderTicket(),OrderOpenPrice(),Bid-TrailingStop*MyPoint,OrderTakeProfit(),0,Green);
return(0);
}
}
}
}
else
{
if(TrailingStop>0)
{
if((OrderOpenPrice()-Ask)>(MyPoint*TrailingStop))
{
if((OrderStopLoss()>(Ask+MyPoint*TrailingStop)) || (OrderStopLoss()==0))
{
OrderModify(OrderTicket(),OrderOpenPrice(),Ask+MyPoint*TrailingStop,OrderTakeProfit(),0,Red);
return(0);
}
}
}
}
}
}
return(0);
}
int TotalOrdersCount()
{
int result=0;
for(int i=0;i<OrdersTotal();i++)
{
OrderSelect(i,SELECT_BY_POS ,MODE_TRADES);
if (OrderMagicNumber()==MagicNumber) result++;
}
return (result);
}
double AdvancedMM()
{
int i;
double AdvancedMMLots = 0;
bool profit1=false;
int SystemHistoryOrders=0;
for( i=0;i<OrdersHistoryTotal();i++)
{ OrderSelect(i,SELECT_BY_POS ,MODE_HISTORY);
if (OrderMagicNumber()==MagicNumber) SystemHistoryOrders++;
}
bool profit2=false;
int LO=0;
if(SystemHistoryOrders<2) return(Lots);
for( i=OrdersHistoryTotal()-1;i>=0;i--)
{
if(OrderSelect(i,SELECT_BY_POS ,MODE_HISTORY))
if (OrderMagicNumber()==MagicNumber)
{
if(OrderProfit()>=0 && profit1) return(Lots);
if( LO==0)
{ if(OrderProfit()>=0) profit1=true;
if(OrderProfit()<0) return(OrderLots());
LO=1;
}
if(OrderProfit()>=0 && profit2) return(AdvancedMMLots);
if(OrderProfit()>=0) profit2=true;
if(OrderProfit()<0 )
{ profit1=false;
profit2=false;
AdvancedMMLots+=OrderLots();
}
}
}
return(AdvancedMMLots);
}
//----------------------------------------------------------------------------------------
//code end
Step 3.
Now open MT4 and go to :
Insert >> Indicator >> Trand >> Bollinger Bands
Set parameter : Period : 20 , shift : 0 , Deviation 2 , Apply to : close , style : Yellow then OK
Step 4.
Lunch your MT4 and find BOLLINGERBANDSROBOT and drag and drop on your favourite currency window
set your parameter and allow live trading on commen section.
Step 5.
Now just watch your robot automatic place order on BOLLINGER BANDS signal.
Happy Trading Now
HI,Thanks for post it. Iam tring in demo.begin lossing bet I wait a few days and will see.
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