Bollinger Breakout2
Bollinger Breakout2 is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around Bollinger Bands. Its source code uses MACD, RSI, moving averages and Bollinger Bands. It can size trades from your risk and trades breakouts. It has 12 settings, for example Slippage (default 4), Percent (default 5) and Breakout Factor (default 15). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. 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 Bollinger Breakout2
Bollinger Breakout2 is an expert advisor (trading robot) for MetaTrader 4 based on MACD, RSI, Moving Average and Bollinger Bands. It can size trades from your balance and risk percent and trades breakouts. It has 12 settings, such as Slippage, Percent and Breakout factor. MQL source code included.
Files in the download: bollinger_breakout2 (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 |
|---|---|---|
| Slippage | 4 | Maximum slippage allowed when opening a trade |
| Percent | 5 | percent risked per trade |
| Breakout factor | 15 | |
| Take profit | 100 | Take profit distance |
| Max risk | 5 | Risk per trade (percent of balance) |
| Bb period | 18 | Period or timeframe used by the calculation |
| Bb dev | 2 | |
| Macd fast period | 12 | Period or timeframe used by the calculation |
| Macd slow period | 26 | Period or timeframe used by the calculation |
| Macd signal period | 9 | Period or timeframe used by the calculation |
| Rsi period | 14 | Period or timeframe used by the calculation |
| Ema period | 3 | Period or timeframe used by the calculation |
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 · Bollinger Bands · Risk & Lot Size · MACD · RSI · Moving Average · MT4 Expert Advisor · MQL4 Source Code