Expert Advisors

B-Bands Trend Trader

Developer: FXCM

The B-Bands Trend Trader EA buys and sells depending on the relationship of the instrument’s bid price to the Bollinger Bands levels. The Bollinger Band indicator measures price volatility by providing a relative definition of the high and low price. When price moves closer to either of the outer bands, it indicates a rise in volatility.

BUYING LOGIC

When the instrument’s bid price crosses above the outer of the two “upper” Bollinger Bands, a buy trade is opened.

Note: Trades are closed when the instrument’s bid price crosses below the inner “upper” Bollinger Band. Trades can open at anytime (i.e. intra-bar). Only one trade at a time is opened, regardless of the number of crossovers that occur.  Stops and limits are not used.

SELLING LOGIC

When the instrument’s bid price crosses below the outer of the two “lower” Bollinger Bands, a sell trade is opened.

Note: Trades are closed when the instrument’s bid price crosses above the inner “lower” Bollinger Band. Trades can open at anytime (i.e. intra-bar). Only one trade at a time is opened, regardless of the number of crossovers that occur. Stops and limits are not used.

INPUTS

The following inputs are available in the EA’s properties window and can be defined by the app user:

  1. Money Management Inputs
    • MagicNumber: A unique identifier that allows the EA to account for and manage its trades
    • LotSize: The number of lots traded
    • MaxDeviation: The maximum slippage allowed (in pips)
  2. Indicator Inputs
    • Bollinger_Band_Deviations1: The number of standard deviations for the first bands
    • Bollinger_Band_Deviations2: The number of standard deviations for the second bands
Risk Disclaimer

The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.

Requirements

This Expert Advisor (EA) is only compatible with FXCM MetaTrader 4 software. It does not operate on MetaTrader 4 software provided by any other brokerage. Additionally, an FXCM account is required (including free FXCM demo accounts).