Bollinger Master
From the Old Kings archive: Bollinger Master, an expert advisor (trading robot) for MetaTrader 4. As the name suggests, the idea behind it is Bollinger Bands. In the code it works with Bollinger Bands. It can size trades from your risk. It has 9 settings, for example Chart Period (default 20), Chart Shift (default 0) and Narrow Deviation (default 2). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. 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 Master
Bollinger Master is an expert advisor (trading robot) for MetaTrader 4 based on Bollinger Bands. It can size trades from your balance and risk percent. It has 9 settings, such as Chart period, Chart shift and Narrow deviation. MQL source code included.
Files in the download: Bollinger Master.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 |
|---|---|---|
| Chart period | 20 | Period or timeframe used by the calculation |
| Chart shift | 0 | Bar shift (0 = current bar) |
| Narrow deviation | 2 | |
| Wide deviation | 3 | |
| Max order count | 3 | |
| Order margin min point | 15 | |
| Order margin max point | 200 | |
| Take profit point coeff | 0.5 | Take profit distance |
| Stop loss point coeff | 1 | Stop loss distance |
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: Bollinger Bands · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code