Double Bollinger Bands Signal - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources
The Double Bollinger Bands strategy uses two Bollinger Bands to filter entries and exits in the Forex market.
The goal of this strategy is to enter a buy (sell) trade when the price is 3σ (2 standard deviations) above (below). This strategy also
Consider the 2σ (2 standard deviation) standard deviation level of Bollinger Bands to make trading decisions.
Default parameters:
2σ Bollinger Bands (20,2): Simple Moving Average (20) and number of standard deviations (2).
3σ Bollinger Bands (20,3): Simple Moving Average (20) and number of standard deviations (3).
input parameters
Open a buy order when these 2 conditions are met:
- Condition 1: The selling price breaks through the 3σ Bollinger Band upper limit (BB3UP).
- Condition 2: If condition 1 is met. Check whether the current price is within the 2σ Upper Bollinger Band (BB2UP) and 2σ Lower Bollinger Band (BB2LO) ranges.
Attachment download
📎double_bolling_band.mq5 (7.6 KB)
Source: MQL5 #46727
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