Electric Eagle EA
Bollinger Bands (MT5)
Backtest video (watch in HD)
Download this EA now on
QUIVO forex
MT5 Version: Take a look at Pipbolt.io
If you do not already have Metatrader 4 terminal, please download it here.
If the links doesn't work go to your Terminal's Markettab and search for Tradarz
Principle of operation
The Electric Eagle EA MT5 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 |