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15 Jun

Another completely free expert afdvisor (forex robot) from FXautomater

2 Comment(s)

We have published another completely free expert advisor (forex robot) on our website. It is called Bollinger Bands Tunnel EA. It is based on the popular indicator Bollinger Bands. The trading logic is very simple. It trades inside of the Bollinger Bands indicator.

Here is when the EA opens SELL trade: When the price crosses the Bollinger Bands upper line and reverses, the EA opens a SELL position.

Here is when the EA opens BUY trade: When the price crosses the Bollinger Bands lower line and reverses then the EA opens a BUY position.

The algorithm of closing the trades is also simple. When the price crosses the upper line the EA will close the BUY positions. When the price crosses the lower line the EA will close the SELL positions.

There are also TakeProfit and StopLoss parameters which are optional. If you set anything the EA will also use them for closing the trades.

Bollinger Bands Tunnel EA default settings are optimized only for EURCHF currency pair. EURCHF currency pair is a well known ranging pair. This strategy is best for ranging markets. It can be used with any currency pairs and forex instruments which are in ranging periods. But you must do your own optimization for other pairs and instruments.

If you have any questions about the new free forex robot don't hesitate to contact us or add a comment below.

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Comment(s) (2)

  • Fxautomater Support Team Reply

    Fernando: Hello, Thank you for this free expert advisor. As i understand: If i want to use it on another currency pair i have to make my own optimization. Which parameters must i optimize? Which parameters are important? I will be happy if you guide me.

    Hello Fernando, Yes you are correct. If you wish to use Bollinger Bands Tunnel EA on other currency pairs you must do your own optimization. We will be happy to guide you. The most important parameters/settings of this EA are:

    BBands_TimeFrame
    BBands_Period
    BBands_Deviation
    BBands_AppliedPrice
    BBands_MaxWidth
    BBands_MinWidth
    MaxVolatilityIndex

    Description for each parameter you can find here: https://www.fxautomater.com/free-forex-robots/bollinger-bands-tunnel-ea

    You can start your optimization with BBands_TimeFrame. For example test M15, M30 and H1. These time frames must show best results. Then test the BBands_Period. The optimal value is 20 but if you test from 10 to 30 you may find even better value. The same way test the rest of the parameters and try to find the best values for your new currency pairs.

    June 23 2022, 1:07 PM
  • Fernando Reply

    Hello, Thank you for this free expert advisor. As i understand: If i want to use it on another currency pair i have to make my own optimization. Which parameters must i optimize? Which parameters are important? I will be happy if you guide me.

    June 23 2022, 11:50 AM

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