The DYJBands opens and closes positions using Bollinger Bands signals: It performs trades after a price rebound from the borderlines of the indicator. It has the option to close positions by an opposite signal, by take profit and stop loss, move a trade to breakeven upon reaching the central Bollinger band or after a certain price movement.
By default, the EA is configured for trading the GBPUSD currency pair on the H1 timeframe. Also, settings for the EURUSD, USDJPY, USDCAD and XAUUSD currency pairs will be provided in the Comments section.
The Expert Advisor also features money management, traditional SL, TP and trailing stop. Only two orders are used for trading each instrument, which ensures maximum safety of trading.
The EA does not use risky trading methods, and can trade on most of currency pair and timeframe. In addition, it does not cost much, and its settings are quite simple, which can be good for both experienced
and novice traders.
The EA works in any trading session. The work time1 and work time2 and work time3 parameter is intraday. It means that if you want to set a working time from 19:00 PM to 05:00 AM, for example, you should define two different intervals, such as 19:00 to 23:59 and 00:00 to 05:00.
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The EA opens orders at a specific news time, such as 19:59 to 20:03 and M1 to H1 timeframe.
Input parameters
- MagicNumber – unique identifier (use different magic numbers if multiple Expert Advisors run in your terminal);
- BandsPeriod – Bollinger bands period;
- BandsDeviations – Bollinger bands deviations;
- BandsAppliedPrice – Bands applied price；
- StochKPeriod – Stoch K Period
- StochDPeriod – Stoch D Period;
- StochSlowing – Stoch Slowing;
- StochMode – Stoch Mode;
- StochPriceField – Stoch Price Field;
- StochLevelUp – Limits of overbought area；
- StochLevelDown – Limits of oversold area；
- TimeFrame – Chart timeframe;
- Lots – Lot size;
- MaxOrders – Maximum postions number;
- TrailingStop – trailing stop value in points (distance from the current price of the currency pair), if set to 0, trailing stop is not used;
- IsUseTradingTime = false – set to false to trade all the time, set to true to use trading time defined below.
- startTime1 = 08:15 – start hour of work time 1.
- endTime1 = 08:35 – final hour of work time 1.
- startTime2 = 13:45 – start hour of work time 2.
- endTime2 =14:42 – final hour of work time 2.
- startTime3 = 22:15 – start hour of work time 3.
- endTime3 = 22:45 – final hour of work time 3.
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