EA Bollinger Band

[Niceperson]

FxDreema BB V2 - 05.ex4

[Bollinger Bands_Stop_v2 - FxDreema.mq4](Bollinger Bands_Stop_v2 - FxDreema.mq4)

I want to convert Bollinger stop indicator into a EA. I tried on FxDreema. I have attached the ex4 file of the EA, the related indicator file and one screen shot explaining about the EA.

I need that one buy order should be sent when the up arrow signal is given by the buffer "uptrend line". This order should be closed eith when the reverse signal appears or when the required pip profit is generated, whcih ever comes first. The reverse signal or the Sell signal is by buffer "downtrend Line"

When I run my EA, two orders are generated instead of one. The order do not kick in when the signal appears. On the attached screen shot I have tried to explain when a order should be enetred and when to exit. The screen shot is only for sale. The buy logic will be the mirror copy.

I am a newbie and any help will be much appreciate to make my EA work. I tried many times. I do not know how to extract the fxdreema project file to post on this forum. I am using the free version. But I can post the screenshot if that helps.

Thank you

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Bollinger Bands_Stop_v2 - FxDreema.mq4
Sell order conditions.jpg
FxDreema BB V2 - 05.ex4

[fxDreema]

I like screenshots Maybe this can help: http://fxdreema.com/shared/HfEyg0DVc

[Niceperson]

Thank you very very much. I am currently testing it on live data.

I am in US eastern time zone. How can I add to this EA a time filter with a condition that before five minutes of the time period end all pending trades should be closed. I used the Time Filter (component) block. But it leaves open trades at the end of time period.

Thanks for your help.

[fxDreema]

Can you show me your Time Filter settings?

Actually you can try something - after that block you can place "Draw arrow" block, so you can see at what time and for how long Time Filter block is passing.

[Niceperson]

06 FxDreema BB V2 - 05.ex4

Thanks for your valuable support.

First the good news. The EA lead you gave seems to be working. I was at a dead end, but now I have something which is running. I have to now optimize the settings. Requesting for your advice as before.

I am trying to get a solution to following two enhancements. One is about the market hours to trade and another is for the trailing stops.

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Trading hours

All on local Eastern Time - USA

Sun From 17:00 to 21.00
Mon From 4:00 to 16:00
Tue From 4:00 to 16:00
Wed From 4:00 to 16:00
Thu From 4:00 to 16:00
Fri From 4:00 to 13:00

On Friday at 13:00 all positions are closed at market.

=====================================================================
Trailing stops

Trade starts with 100 pip profit target

No Trailing stop till the trade has 10 pips profit

At 10 pip profit, the Trailing stop is at the entry price + 2 pips
At 20 pip profit pis onwards the trailing stop moves at each step of 10 pips in price movement. chnages to entry price + 10 pips. Meaning, At 30 pip profit, the trailing stop changes to entry price + 20 pips and so on until 90 pips profit when the trailing stop is at price plus 80 pips. Beyond that the profit target of 100 will close the trade.

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I am attaching a image of the schema whish I thougt will work. BUt when I set the trading time / trailing stop box I am confused. There are many settings and I have no idea whcih one will do the job. The base ex4 file containing the working EA is also attached.

Requesting for your advice.

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06 FxDreema BB V2 - 05.ex4
09 Screen shot.jpg

[fxDreema]

There is a block called "Hours filter" which have less setting, but I think it will be easy to understand it. Backtest these blocks with "Draw arrow" block. In other words - Hours filter -> Draw arrow. If you add Once per bar just after Hours filter, this will give you 1 signal, otherwise the block will pass at every tick in the whole period of time.

Trailing stop has settings like:
Trailing stop - the size (in pips) where to put the SL
Trailing step - how often to make moves. If step is 10 pips, it will move SL in every 10 pips of profit. If it is 0, it will move it in every price that is bigger than SL+TrailingStop.
Trailing start parameter - when to start trailing stop functionality. You can put 10 pips here, and until you have 10 pips in profit, Trailing stop will not work, no matter what are the settings.

For you, I think the settings are:
Stop - 20
Step - 10
Start - 10

This can explain how trailing stop actually works. Here we have the same trailing stop functionality on the left and on the right. Well, without taking care of Start option. http://fxdreema.com/demo/mt4-9975