Bollinger & MA

No. A signal in the opposite direction would only happen in a small range condition. Don't rely on the robot to give exit signals. That would blow your account.

The indicator is not showing in indicator folder after copying it. Please what am I doing wrong?

Hello RiskFighter

Does MA5 play any role in the signals generated by the EA? Or is it MA50 only?

I have gone away from MA5. It is directly dangerous to use without EMA50 and then it has no role to play.

Which indicator are you talking about?

That is EA BollingerMA_5 needs to be placed in "Experts" folder.

After pasting it in experts folder then rightclick and refresh on Navigator section on your mt4 terminal. You will be able to see under "Expert Advisors"

Welcome!

Is't possible to view previous alerts in 'Alerts" Section on mt4? dont know why our notification/alerts are not recorded there!

That is because I coded it as an EA - I like to say robot. Previous alrts need some special coding which can only be made in indicators.

Thanks for your response.
I did copy it to expert folder but still not showing.
These are the steps I took:

From File>Open Data Folder>MQL5>Experts>Advisors

Maybe I got a all wrong.
Kindly help me look into it.

Sorry, I mean your EA

Looks like you are trying on MT5. This EA is for MT4

Today

There is not a BMA buy signal in that chart. It is very important that there were a crossUp of the LowBollinger boarder within the last 5 bars. If not, then it is not a trend bouncing trade and you will often come into the trade too late.

Guys - a little advertising: How to make every trading week profitable.

That thread is most interesting.

I am trading 3 account with this strategy right now, mainly to study different ways of exit. Right now I had a signal on 2 of those account but not on the third. The third account is a prop account with a different broker, but it should no make any difference. And set up is the same and other signals are coming on all 3 account. Quite weird.

Just wanted to tell, that such weird things might happen and there is nothing to do about it.

I am about to challenge mff fund with this system, hope to pass within 2 weeks

Super. I just started an MFF with it. I take 0.5% every day, so it will be 16 days for me.

Then again, there are days with no signals - like today. So we will see.

I think it is time to throw in one more tool which I have invented and programmed.

Bollinger Bands is a tool with many functions. One of them is telling if a pair is ranging or tranding. If the outer bands are not widening, then the pair is in a range condition. But if the bands ARE widening, then a trend is upcoming or ongoing. As most indicators works either in a trending condition or a range, this Bollinger function is very important. BUT - take a look at the bollinger bands. When are they widening and when are they showing a range is coming? I allways found it difficult to judge those bands. So I made an indicator.

I named the indicator BollingerMomentum. (No I am not giving away the code). It is measuring the average of the bands n bars backwards. You can set that value in the settings. It is named MA_Length. There are 4 colours which give the condition on the last closed bar (n=1):

1. DarkGreen: Bollinger Bands are widening compared to the average of the last n bars. A trend is ongoing or might be upcoming.
2. LightGreen: Bollinger Bands are wider than the average of the last n bars. But are not widening any further at this moment.
3. LightRed: The last width of the Bands are now smaller than the width of the average of the last n bars. Ranging should be expected.
4. DarkRed: The last width of the Bands was widening, but it was still more narrow than the average of the last n bars. This is an early warning of a possible trend upcoming and might lead to a DarkGreen colour soon.

The reason that I bring this indicator in play right now is, that I am seeking the ultimate method to exit from the trades that I make on the daily bars. When the colour goes from DarkGreen to LightGreen you should be aware and ready to take profit. Yes, you will often see, that the colour goes back to DarkGreen again. There are no 100% recipie of knowing what will happen at the next bar. If the colour change from Green to Red, then I definately will exit the position right away.

But But - as with all indicators the picture will be different caused by the number of bars that you look back - set by MA_Length. Here is a possibility to experiment.

Note: The indicator is based on Bollinger Bands, so uncertainties is not because of a bad tool, it is because of the Bollinger Bands behavior.

Note!!! Widening of the Bollinger Bands tells you NOTHING about the direction of the trend - up or down. And you can easily experience a continued DarkGreen colour even if the trend is changing. This acknowledge, that the new direction is valid. So DO NOT fall into sleep if the colour is DarkGreen. A change in direction might then cheet you.

And Note! The nature of this tool is not that it gives nice reliable signals. It merely provides times where you should think about the investment you have. Danger might be coming or oppotunities might come. But other indicators shall be your lead and BollingerMomentum a support.

I got my red diamond today. I am very honoured! Thank you.