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My first Bollinger Bands profitable EA strategy

This EA utilizes Bollinger Bands, Moving Averages, and candlestick patterns for trading, but the trading results are not satisfactory, yielding only marginal profits. Nonetheless, I am still willing to share my trading rules and content with everyone.

During the development process, I encountered some challenges.Adding trading conditions reduces the frequency of trades, while reducing conditions leads to continuous losses.Despite meeting the indicator criteria, the profits remain minimal. I am still in search of better solutions.There is room for improvement in both MQL language and strategy indicators. After further learning, I plan to readjust in hopes of enhancing performance.

Strategy Description

This strategy is relatively straightforward; it executes a trade whenever the signal conditions are met. Below are the conditions.

Entry conditions:

  1. Closing price is above the upper Bollinger Band.
  2. The second upper Bollinger Band is greater than the first upper Bollinger Band.
  3. The closing price is above the 200-period weekly moving average (200MA).
  4. The 50-period daily moving average (50MA) is greater than the 200-period moving average (200MA).
  5. Matches the defined candlestick pattern.

Backtesting Validation

The backtesting time span of EUR/USD is from early 2017 to end of 2021. The spread is set to 20 pips on the EUR/USD H1 timeframe for validation.

Strategy Review

I only run EURUSD with a spread set at 20. The report reveals several issues: too few trades, average profits below losses, and various minor problems. It seems developing a profitable strategy isn’t easy. I’ll keep pushing forward and working hard

Double Bollinger Bands MQL4

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