The FREE Bollinger Bands Trading Strategy is a fully automated trading system designed for the EUR/JPY currency pair on the H1 timeframe. It follows a systematic entry and exit approach, using technical indicators to determine trade signals. The Bollinger Bands EA for MT4 and MT5 employs a defined stop loss and take profit mechanism to manage risk and secure profits.
Lot Size: Fixed at 2.00 lots per trade.
Stop Loss:90 pips.
Take Profit:100 pips.
Indicators Used in the Bollinger Bands Trading Strategy:
Bollinger Bands (Period: 13, Deviation: 1.87): Measures market volatility and identifies potential breakout points. The deviation setting suggests the EA may look for mean reversion or breakout-based entries.
Awesome Oscillator (Level: 0.0000): Likely used to determine market momentum and potential trend reversals by comparing recent and historical price movement.
Envelopes (Period: 27, Deviation: 0.66%): Helps define upper and lower price boundaries around a moving average, acting as dynamic support and resistance. A lower deviation (0.66%) suggests the EA may look for small-scale mean reversion trades or trend breakouts.
Don’t forget to download our Free Expert Advisors Startup Guide before trading with the robot.Disclaimer: This Bollinger Bands Trading Strategyis for educational purposes and is free to download. Get the FREE Bollinger Bands EA for MT4 or MT5 and test it on a Demo account. Traders should regularly monitor the performance to ensure it aligns with expectations.
