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.