Electric Ealge EA
Bollinger Bands (MT4)
Demonstration video (watch in HD)
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QUIVO forex
MT5 Version: Take a look at Pipbolt.io
If you do not already have Metatrader 4 terminal, please download it here.
Principle of operation
The Electric Eagle EA uses Bollinger Bands to enter a trade. If the close of the last bar is above the upper band it enters a Buy Order if the close of the last bar is under the lower band a sell order is generated.
Parameters for the Bollinger Bands
BandsPeriod = Averaging period to calculate the main line (default is 20)
BandsDeviation = Deviation from the main line (default is 2)
BandsShift = The indicator shift relative to the chart (default is 0)
BandsAppliedPrice = In this parameter you can set the Applied price. It can be any value between 0 and 6.
(default is 0 / Close price)
| PRICE_CLOSE | 0 | Close price |
| PRICE_OPEN | 1 | Open price |
| PRICE_HIGH | 2 | High price |
| PRICE_LOW | 3 | Low price |
| PRICE_MEDIAN | 4 | Median price, (high+low)/2 |
| PRICE_TYPICAL | 5 | Typical price, (high+low+close)/3 |
| PRICE_WEIGHTED | 6 | Weighted close price, (high+low+close+close)/4 |
All others Parameters are described in the functions page.
Updates
02.05.2014 - The BandsDeviation is now a double and no more a int. This means it is now possible to use this variable with a decimalpoint like 0.382 or 1.55. And there is now a ReverseOnSignal function in it.