Bands Breakout
Bands Breakout is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its name points to breakouts from a range. Its source code uses moving averages, Bollinger Bands, ADX and ATR. It has 12 settings, for example De Marker Period (default 14), demarker delta (default 0.20) and Bollinger Period (default 14). Watch it on a demo account for a while — robots can behave differently with each broker. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About Bands Breakout
Bands Breakout is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average, Bollinger Bands, ADX and ATR. It has 12 settings, such as De marker period, Demarker delta and Bollinger period. MQL source code included.
Files in the download: Bands Breakout (1).mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| De marker period | 14 | Period or timeframe used by the calculation |
| Demarker delta | 0.20 | trade when the DeMarker is outside of .5 +/- demarker_delta |
| Bollinger period | 14 | Period or timeframe used by the calculation |
| Bollinger delta | 5 | trade when the price is within bollinger_delta points of the band (negative means price must be outs |
| Min adx | 40 | only enter a trade when the ADX is at least this level |
| Take profit | 20 | Take profit distance |
| Stop loss atr | 10 | number of ATRs to use for the stoploss |
| Time period | 5 | in minutes |
| Slippage | 3 | Maximum slippage allowed when opening a trade |
| Use fixed lots | false | |
| Fixed lot size | 1 | |
| VAR | 0.1 | .1 means the value-at-risk is 10% of the account (i.e., if the stoploss is hit, this amount will be |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Breakout · Moving Average · Bollinger Bands · ADX · ATR · Oscillator · MT4 Expert Advisor · MQL4 Source Code