The Bollinger Band Squeeze Metatrader 4 Forex Robot is an algorithmic trading software that is designed to manage (exit & exit) positions based on the expansion that follows contraction of the Bollinger Bands indicator.
This EA adopts a simple logic that allows it enter trades after price rebounds off the outer boundaries of the Bollinger Bands indicator.
Considering how popular the Bollinger Bands indicator is to traders, formulating an expert advisor that trades along its ideas makes a lot of sense.
Looking at the profitability of the back tested periods, one can quickly point out the underlying potentials of the Bollinger Band Squeeze forex robot.
Strategy Tester Report
Find below the Bollinger Band Squeeze forex robot strategy tester report for the EUR/USD forex pair on the daily chart.
The EA made a total profit of $2659.41 from a total of 136 trades. The largest winning trade generated $164.52 in profits, while the largest losing trade generated a loss of-$75.40.
Bars in test: 2503 ticks modelled
Initial deposit: $10000.00
Total net profit: $2659.41
Total trades: 136
Largest profit trade: $164.52
Largest loss trade: -$75.40
Consecutive wins: 3
Consecutive losses: 2
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Enable “no loss,” When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Bollinger Bands
Copy and paste the BOLLINGER BAND SQUEEZE.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)