Bollinger Bands strategy

 The Expert Advisor to help traders who use Bollinger bands in trading makes it possible to evaluate the effectiveness and optimize the three trading methods (strategies) described in John Bollinger’s book “BOLLINGER ON BOLLINGER BANDS”, with some additions. I do not recommend using it in the forex market.

  Expert Advisor Parameters:

 Stop Loss

 Take profit

 Trailing stop margin

 Trailing stop step

Money management: Lot OR Risk

Lot size for MM

Rejection for the transaction

Printing a magazine

Strategy 1-Breakout of Volatility

 The method uses low volatility (compression of Bollinger bands) as a forerunner of high volatility (tape expansion). The percentage of relative compression is determined by the Band Width indicator.

 The %b indicator (the position of the price relative to the ribbons) is displayed in the upper-left corner of the chart. The Oscillator For BBS indicator (an oscillator normalized to bands) is used to indicate the direction.

Use strategy 1

Min. % compression of the “Band Width” indicator for long positions

Min. % compression of the “Band Width” indicator for short positions

Max. the value of “%b”, up to which long positions are opened

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Min. the value of “%b”, above which short positions are opened

Confirmation of overbought (oversold) by the indicator “Oscillator For BBS”

Max value of ” %b(Oscillator)”, up to which long positions are opened

Min value “%b(Oscillator)”, above which short positions are opened

Are we closing a position on a counter signal?

Use trailing

Only one position

Strategy 2-Follow the trend

 The method predicts the birth of trends by considering the price strength, confirmed by the strength of the Money Flow Index indicator.

Use strategy 2

Min value “%b”, above which long positions are opened                                                                            

Min value of MFI, above which long positions are opened 

Max value “%b”, below which short positions are opened 

Max value of MFI, below which short positions are opened

Use trailing

Only one position

Strategy 3-U-Turns

 The method is based on touching the tapes with overbought (oversold) indicators or divergences. The Expert Advisor implements the condition for touching the upper ribbon 

with a declining indicator (sell) or a lower band with a growing one (buy) after passing the set level of %b(Oscillator)

Use strategy 3

Max value “%b”, up to which long positions are opened

The value of “%b(Oscillator) ” above which long positions are opened

Confirmation of the growth of the oscillator

Min value “%b”, above which short positions are opened

The value of “%b(Oscillator) ” below which short positions are opened

Confirmation of the oscillator’s decline

Are we closing a position on a counter signal?

Use trailing

Only one position

Indicators used:

The “Bollinger New” indicator is used by three methods  

The “Band Width” indicator is used by method 1, calculated according to the “Bollinger New”indicator.

The indicator “Oscillator For BBS” is used by methods 1 and 3

The MFI (Money Flow Index) indicator is a technical indicator used by Method 2 

The indicators “Bollinger New”, “Band Width”, “Oscillator For BBS” can be displayed on the chart after optimization. 

For experienced users:

The timeframe of the Expert Advisor 

Band_Width timeframe 

Oscillator For BBS Timeframe

Trailing timeframe

Add BBNew