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This Expert Advisor is the free version of “Bollinger with WPR scalper”, which is based on the Bollinger bands and Williams’ Percent Range indicators. Limitations of the free version: lot is fixed to 0.01, only the EURUSD currency pair is supported, trading time cannot be selected, trailing stop is not available. Nevertheless, it can make quite a lot of deals, so you do not have to wait for positions to be opened (with the appropriate settings and timeframes below H1).
The EA can be used on timeframes from M5 to H4. Before installing for each timeframe, do not forget to optimize the parameters.
Input parameters
- Magic – unique identifier (use different magic numbers if multiple Expert Advisors run in your terminal).
- TakeProfit – take profit in points.
- MaxStopLoss – maximum possible stop loss (in points).
- PeriodDynamicStop – dynamic stop loss calculation period (if 0, the maximum stop loss is used).
- DynamicStopFactor – dynamic stop loss calculation multiplier.
- MaxCountBuyOrders – the maximum number of buy deals opened at a time (recommended 1-3).
- MaxCountSellOrders – the maximum number of sell deals opened at a time (recommended 1-3).
- CountBarsBetweenTrades – the minimum number of bars required to open an additional deal (recommended from 5 to 20).
- TradeEveryTick – trade each new tick (slows down optimization, but may improve profit in real trading).
- BollingerPeriod – Bollinger bands period.
- BollingerDeviations – Bollinger bands deviations.
- Bollinger2Enable – enable/disable the second Bollinger bands indicator.
- Bollinger2Period – second Bollinger bands indicator period.
- Bollinger2Deviations – second Bollinger bands indicator deviations (this parameter value should be less than the first indicator deviations and may even become negative).
- MoreTransactions – allow the EA to react to weak signals and to open more trades.
- PeriodWPR – WPR (Williams’ Percent Range) period.
- LevelsWPR – WPR levels (1-50, automatically converted to lower and upper levels).
- PeriodWPR2 – second WPR period (0 – second WPR is not used).
- EnableAutoClose – enable automated closing of trades.
- PeriodForClose – WPR period to close trades.
- LevelsForClose – levels to close trades.
- AdxPeriod – ADX indicator period.
- MinAdxLevel – ADX indicator minimum level.
- MaxAdxLevel – ADX indicator maximum level.
- ShowInfo – enable the display of information.
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