This is an expert that uses Stochastic and Bollinger Bands as the main recipe of an operation.
The main objective of this algorithm is to recognize good overprice positions.
Bollinger Bands: occurs when price reaches/passes a certain distance between the mid-band and the external band.
Stochastic: occurs when the main line of the indicator crosses the over-priced limit. The lower limit mirrors the upper limit input.
Confirmation Signal: can be either Bollinger or Stochastic signal, used on a higher timeframe.
Trade occurs when the number of positive signals are equal to the necessary number of signals to open a position.
Please make sure to strategy test the bot before using it on real money, you need to learn how to use it to understand.
This is how to configure Stobbot Inputs
Draw Indicators =(live mode only);
TimeFrame Confirmation = must be a multiple (integer and positive) of the current timeframe.
TimeFrame Signal Confirmation
Number of Signals to Confirm
Lots to trade(volume) = used on Autolot as standard lot too
Global Max DD = removes expert once triggered
Local Max DD = freezes expert until next day
Autolot Size = Amount of money to use the standard lot size
Autolot Step = amount of money to change current lot size
StopLoss = amount of times that the point value will be added/subtracted from the price to create a stop loss range, 0 = off;
TakeProfit = amount of times that the point value will be added/subtracted from the price to create a take profit range;
TrailingStop = amount of points to work with the moving stop on the position;
Trailing Type = type of trailing stop to use
Parabolic Settings = self-explanatory if using P. SAR
Bollinger Multiplier = accelerates the bollinger trailing system.
Points to Trigger Breakeven
End Day Position Closing Filter = works with “End Time” input.
Trend Filtering Configuration = selects the Timeframe and the difference between two M.A. based on Heiken Ashi.
Trade reversal system = if “true” will use opposite trading signals to reverse the current position;
Use one opened position at time = self-explanatory.
Price Deviation = the biggest deviation from the current price that will be accepted before opening an order;
Bollinger Bands Average
Bollinger Bands S.D.
Bollinger Bands Trigger Distance (in) = distance between external band and middle band to send an (in) signal as soon as the price reaches/crosses this distance. Used in percentage of price (0-1 = 0% – 100%).
Bollinger Bands Trigger Distance (out) = distance between external band and middle band to send an (out) signal as soon as the price reaches/crosses this distance. Used in percentage of price (0-1 = 0% – 100%).
Bollinger Bands Closing Break Signal: type of breaking band closing signal (opposite to the trade direction or any direction)
%K Stochastic Oscilator
%D Stochastic Oscilator
%S Stochastic Oscilator
Limiter Value of an over-priced condition = stochastic upper limit for overbought prices. The lower limit will be (100-thisValue);
Stochastic Smoothness type = (for more information, see some info about stochastic indicator);
Stochastic calculating method = (for more information, see some info about stochastic indicator);
Type of Out Signal from Stochastic = choses what type of closing signal you want from stochastic (crossing lines, crossing limits or none)
Confirmation Stochastic Conf = used when the confirmation signal is “Stochastic”. These are its settings.
Developer Mode = should be left as “false”. Check updates tab for more information.
-Bollinger Bands S.D.O.D. = this value sets the major behavior of Bollinger Bands on the strategy. Higher inputs means less dependency of the Bollinger Bands for the strategy.
-Runs only on a new candle (except Money Management). Open Prices Only can be used on optimization.
Please check out the updates tab!
If you find any error, please report it. I will try my best to fix it as soon as possible.