Bollinger Bands Cross Alert MT5 is an expert advisor developed by the Forex Robot Easy Team. This code allows traders to identify candlestick patterns for forex trading using the Bollinger Bands indicator.
- BollingerPeriod: The period used to calculate the Bollinger Bands (default value: 20).
- StdDeviationMultiplier: The standard deviation multiplier used to calculate the upper and lower bands (default value: 2.0).
The expert advisor uses the OnInit() function to allocate memory for the necessary buffers and calculate the Bollinger Bands based on the specified input parameters. The upper and lower band values are stored in the respective buffers.
The OnTick() function is called on each tick and checks if the current price has crossed above the upper band or below the lower band. If a cross above the upper band is detected, a buy signal is generated. Similarly, if a cross below the lower band is detected, a sell signal is generated.
Please note that this code only generates the signals and does not include the actual execution of buy or sell orders. Traders are required to include their own order execution code, as well as stop-loss and take-profit parameters.
The OnDeinit() function is used to free the memory allocated for the buffers.
Bollinger Bands Cross Alert MT5 is an expert advisor developed by the Forex Robot Easy Team. It is designed to assist traders in identifying candlestick patterns for forex trading using the popular Bollinger Bands indicator.
The expert advisor calculates the Bollinger Bands based on the user-defined input parameters and generates buy or sell signals when the current price crosses above the upper band or below the lower band, respectively. Traders can utilize these signals to make informed trading decisions.
Please note that ForexRobotEasy is not the official developer of this product. We only provide sample code that demonstrates how the Bollinger Bands Cross Alert MT5 works. To find the official developer of this product and access detailed reviews and trading results, please refer to the provided backlink to the product review on forexroboteasy.com. For further information on using the expert advisor, it is recommended to consult the official developer through MQL5.