BBP_BolingerBreakoutPyramid EA

This is my best EA so far......It trades breakout of bollinger bands.
It will trade any price breakout of BB, along with some filters for confirmation,
and execute 4 orders(1 trade and 3 stops). If there is a false breakout,
you will(in most cases) lose only one trade, while the others will be closed
automaticaly, But if there is a true breakout, price will activate stops
while ea trails all trigered orders. I tested this on few main pairs,
and all of them ended in nice profit.

Users of 4 num brokers must change all TP\SL and all stops by
removing one zero from each variable!
Works best on 30min TF for EURUSD pair!!!

There are some minor errors within first movestop, but it seems
not to interfere with profitability of the method.
Im opened for suggestions and help regarding the ea.

external variables:

extern string __MAIN_FUNCTIONS_____;
extern int Slippage = 3;
extern int MagicNumber = 1803;
extern int Risk_percent = 5;
extern double minLots = 0.1;
extern double maxLots = 5;
extern string __TPSL_FUNCTION_____;
extern double StopLoss = 250;
extern double TakeProfit = 1500;
extern string __MOVE_STOPS_FUNCTION_____;
extern bool Move_Stops = true;
extern int First_Stop_Target = 250;
extern int First_Stop = 50;
extern int Second_Stop_Target = 500;
extern int Second_Stop = 250;
extern int Third_Stop_Target = 750;
extern int Third_Stop = 500;
extern int Fourth_Stop_Target = 1000;
extern int Fourth_Stop = 750;
extern int Fifth_Stop_Target = 1250;
extern int Fifth_Stop = 1000;
extern string __TRADING_HOURS_LIMIT_____;
extern int iStartTradingHour = 0;
extern int iEndTradingHour = 24;
extern string __MA_TREND_FILTER_____;
extern int maPeriod = 50;
extern string __BOLINGER_BANDS_TRIG_____;
extern int BBperiod = 20;
extern string __MAIN_FILTERS_____;
extern int MACD_Fast = 8;
extern int MACD_Slow = 17;
extern int MACD_Signal = 9;
extern int RSI = 14;
extern int Momentum = 14;
extern int DeMarker = 14;
extern int ADX = 14;
extern int ForceIndex = 14;

Any comments???

Thanks for this strategy. Will try it out!

I'm testing it. Will update my results.

Thanks.

I've been interested by BB breakouts based stategies, back to this summer, but everything I coded on this, profit went south

If you look at this external blog http://www.addictfx.biz/article-981645-6.html you can see that this guy, by filtering with some ADX thingie, managed to reach a PF of ~2 with a very low DD.
By the way, this is 4 yo blog, and I have no relationshit with this blog (please mods don't ban my account)

Let's go for a EU TF30M fwd test

EDIT : removed

[Hi Flash. Thank for your EA. Is this the only and latest ea you developed using the Bollinger Breakout Bands. You stated that it is your best EA so far.

quote=FOREXflash;2478877]This is my best EA so far......It trades breakout of bollinger bands.
It will trade any price breakout of BB, along with some filters for confirmation,
and execute 4 orders(1 trade and 3 stops). If there is a false breakout,
you will(in most cases) lose only one trade, while the others will be closed
automaticaly, But if there is a true breakout, price will activate stops
while ea trails all trigered orders. I tested this on few main pairs,
and all of them ended in nice profit.

Users of 4 num brokers must change all TPSL and all stops by
removing one zero from each variable!
Works best on 30min TF for EURUSD pair!!!

There are some minor errors within first movestop, but it seems
not to interfere with profitability of the method.
Im opened for suggestions and help regarding the ea.[/quote]

Hi Flash. I like your EA very much. Again thank you for it.Is this the latest version???? Why a take profit of 1500. Seems like a long way to go for me.

If I close out the first trade manually it does not get rid of the other 3 trades. Any thoughts???

Hi

Is any one using this EA and what experiance have they had ??

Thanks

I love to use B Band to trade, is there any recent good
results from your EA?

Any update on your EA?

thanks

Hi ForexFlash,

would it be too hard for you if you could tweak your EA so that when buy signal is generated EA places SELL order and opposite when your EA generates sell signal, BUY order would be placed. so, if it is buy stop then reverse would be sell limit.

thanks

Just thinking allowed..would it not be better to reverse the buystops for sellstops amd sellstops for buystops.This way for example if the top bollinger band was broke you would place a sellstop..if the price did not retract and the price moved up by say 20 pips you would cancel the first unfilled order and place a second sellstop ..if it continued again moving up by 20 pips cancel previous unfilled sellstop order and place another sellstop order..Thus continues
tracking the price movement of 20 pips until it eventually retracts and fills the last sellstop placed.This way you stand a good chance of catching a reversal after a breakout and making some pips.
Hope this makes sense!!also when last order is filled adding a trailing stop or jumping stop loss to maximise profit.With this method you only have one order opened at anyone time..

It loses money, pretty miserably in my backtests ... maybe it is because I use Alpari, 5 digit broker ... well I will listen if everyone thinks this makes money

Hey ForexFlash,

im reading FF almost one year and posted very seldom something (thatswhy i always forget my Login DD and must register again and again).

But i have to say, i really enjoy to read your posts and ideas. Really cool. You are on the best way to be a winner. (if you are not already)

Many of your EAs and strategies are nice, but have be much more tested. Diferent markets, Set ups, etc.

Really good Job, keep going, ill keep eye on you.

A

Hi...

You're saying that it trades breakout of bollinger bands...

Breakout means what ? Breakout of SD1 or SD2 ?

It will be nice if we can change the breakout level or entry based on those standard deviation ie SD1 or SD2.


Cheers !

Hi,
Thanks for sharing your work. Nice job of coding. How do I know? Because the ea doesn't gobble up the cpu... Runs fast and smooth.
Back tests have their limitations... data is unreliable for one thing... black holes, missing months.... ?? about the only thing I would trust in backtests is to see if the mechanics of the ea are working, is it opening and closing properly etc.
Lately I have been working on a bb strategy that doesn't use lagging indicators. Based purely on price action using candle formations and a close outside the bands.
An ea based on bb bands and candles would be powerful. Lagging indicators are just that lagging, even though everyone adores them. Price action is up to the moment. Candles capture price action.
We worked on an ea that was based on a hi lo channel and indicators but the bb bands would be much better than a hi lo channel and candles far out surpass indicators.
bb 10, 1 is effective on lower time frames especially down to the minute for scalping. 10,1 is good up to about 15 m even 30 and 60 min it seems.
I wouldn't worry about false signals, just use a tight stop and take a small loss if need be.
A break above is a sell and if it can be confirmed by a candle formation that is all the better. If confirmation can be taken from a higher time frame that would be even better. Sometimes there is a break simultaneously.
Just some ideas.
Thanks for your work will be following the development.

For some reason, I decided to take a look at this today. The original had some issues. For one, the ma was declared as an int. This caused some issues and the ea would only take long trades. Because it crashed and burned on E/U, I decided to flip the buy/sell. This let it turn a nice profit from Jan till July (this is what also made me realize it was only trading in one direction as just about any strategy that only sold E/U in the first half of this year made money). Given this, I cleaned up a few of the bugs (stop handling, allowing it to trade long, and some weirdness in the Black/White Bird section). I also added one more MA to give the daily 20 day MA.

So now this thing basically runs counter to the short time frame trend, but in the direction of the daily trend. It does well on E/U for this year, and ok on some others.

Other than that, there are still way too many indicators in this strategy, and there is probably a lot of room for tuning if someone's interested.

The backtest below is on FXDD malta (ECN 5-digit) from Dec '09 to Nov '10 on E/U. One more change, I increased the BB standard of deviation from 1 to 3.

Thanks a lot...

I'll give it a try soon...


Cheers !

Hello,
Could you share you template & indicators, please?