GRat IndiTrade example: Bollinger Bands
Attached are templates with settings for all strategies (even more), described in Learn how to design a trading system by Bollinger Bands. But unlike the originals, which only display messages on the chart, these strategies can automatically trade in MT5, in MT4 (using GRat_OrderImport (MT4)) and on crypto exchanges (using GRat_BinanceImport or GRat_Crypto). Just install GRat IndiTrade and apply the appropriate template to the desired chart.
Trading Signals
BBTrend – combined Uptrend and Downtrend:
- Ask >= Middle line and Ask < Upper band –> buy signal
- Bid <= Middle line and Bid < Lower band –> sell signal
Note: if the current price is near the Upper/Lower band for a long time, it will generate too many signals. To reduce their number, you can add some offset from the Upper/Lower band to the Middle line to the 2nd comparison:
or you can make it wait for a rollback beyond the Middle line and its re-crossing:
There should be only one open position at any time:
BBSideways – combined Long and Short:
- The closing price touches the Lower band –> buy signal
- The closing price touches the Upper band –> sell signal
To exclude consecutive entries in the same direction:
Position Management
BBTrend – combined Uptrend and Downtrend close:
- Bid > Upper band –> close long
- Ask < Lower band –> close short
BBSideways – positions are closed at opposite signals:
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