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Any Forex trader autopilot forex trade on or investor is always 100% responsible forex on trade autopilot for the decisions they take. The Bollinger Bands indicator was invented by John Bollinger trade forex on in autopilot the 1980s.
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The Bollinger Bands consist of a Moving Average, an Upper and a Lower Band and is included in Metatrader 4 and 5. The default settings are 20 for the period and 2 for the deviation. The Bollinger Bands EA is a forex robot which uses trade forex Bollinger on autopilot Bands to enter a trade. BreakOut : If the last bar closes above the upper band it enters a Sell Order. If the close of the last bar is below the lower band a Buy Order is generated. BreakIn : If the last bar crosses the upper band from above it enters a Sell Order.
If the last bar crosses the lower band from below a Buy Order is generated. Exit strategies (only MT4 Advanced and MT4 Pro) The Bollinger Bands EA has 2 different exit strategies. Close on middle Band: The trade will be closed if the middle Bollinger Band gets crossed.