Example robot for MetaTrader 5
Bollinger Band Stretch
Trades EURUSD on 1-hour bars. It buys when 3 bars in a row close between the two Bollinger Bands below the average price. It sells when 3 close between the two bands above it. The price has stretched away from the average but not broken out.
- Market
- EURUSD
- Bars
- 1-hour bars (H1)
- Clock
- UTC
- What it does
- Opens trades
The builder opens with this robot loaded. Change what you like, then check it. While we launch, getting it for your own accounts is free.
The rules, in plain words
Each rule is one or more blocks in the builder. Every number can be changed before you check the robot.
- When
- Every time a 1-hour bar closes, Monday to Friday, between 07:00 and 20:00 UTC (the London and New York sessions).
- What it looks at
- Bollinger Bands around the average price of the last 20 bars, two on each side. The near band is 1 deviation from the average. The far band is 2 deviations from it.
- Buy if
- 3 bars in a row closed between the two lower bands: below the near band, but not below the far one.
- Sell if
- 3 bars in a row closed between the two upper bands: above the near band, but not above the far one.
- Then
- It opens one trade with a stop loss twice the ATR away. The ATR is how far the price moves in one bar on average, over the last 14 bars. The take profit is 1.5 times the stop's distance, in the other direction.
- Trade size
- Each trade risks 1% of the account, and is never bigger than 5 lots.
Its safety limits
When a limit is reached, the robot stops opening new trades. You can change the numbers, but you cannot delete the limits.
Daily loss limit3%
After a 3% loss in one day, counted from the balance at 00:00 UTC, it opens no new trades until the next day.
Stop loss on every trade2 x ATR
Each trade closes by itself if the price moves twice the ATR against it.
Trading hours07:00 to 20:00 UTC
It opens trades only in these hours, Monday to Friday.
Most trades open at once1
It waits for its trade to close before it opens another.
Trades per day3
After three trades in one day it waits for the next day.
Wait between trades2 bars
After a trade closes it waits two bars before the next one.
Open risk at most2%
It opens no trade that would put more than 2% of the account at risk at once.
Biggest trade size5 lots
A trade bigger than this is not placed.
Spread at most30 points
When the spread is wider than this, it waits.
What it does not do
Every robot here does only what its blocks say. These are the things people often expect from a robot that this one does not do.
A limit stops new trades. It cannot stop prices from jumping, so a loss can sometimes go past the limit you set. More on the safety page.
Bollinger Band Stretch
Not this
- It does not buy or sell a breakout: a close past the far band does not count.
- It opens no trade outside its hours.
- It holds one trade at a time, and never makes a trade bigger after a loss.
- Past results do not tell you what will happen next.
Build it, test it, get it
Open the robot in the builder and change what you like. The builder checks it by itself as you change it. Then test it on past prices in your own MetaTrader 5, and get it for your accounts.
The step-by-step guide covers every click, from the builder to a running robot.
Three steps
From this page to your chart
Build. Press Open it in the builder and change any number. The builder checks it by itself as you go and says what is missing, in plain words. Building a robot
Test. Download the free test copy and run it in the Strategy Tester. For this robot choose EURUSD and H1. Testing a robot
Get it. Enter the MetaTrader 5 account numbers it may run on. While we launch, it is free. We email you when it is ready to download. The account lock
Questions about this robot
More answers on the questions page and what it costs.
What are Bollinger Bands?
Bollinger Bands are lines drawn above and below the average price of the last 20 bars, wider apart when the price moves a lot and closer together when it is calm. A deviation is how far the price usually strays from that average. The near bands are 1 deviation from the average, and the far bands are twice as far.
Why only between the two bands?
A bar that closes between the near band and the far band shows the price has moved well away from its average without running off. The idea is that a price stretched like that often comes part of the way back. Because the robot waits for 3 bars in a row, one sharp bar is not enough. A close past the far band may be the start of a breakout, so it does not count.
Where do the stop loss and take profit go?
The stop loss is twice the ATR away from the entry price. The ATR is how far the price moves in one bar on average, over the last 14 bars. The take profit is 1.5 times that distance in the other direction: if the stop loss is 20 points away, the take profit is 30 points away.
More example robots
RSI Mean Reversion
Buys GBPUSD when the RSI says it is oversold and the price is above its long-term average, sells when it is overbought below that average, and gets out when the RSI returns to the middle.
- Market
- GBPUSD
- Bars
- 15-minute bars (M15)
- What it does
- Opens trades
Read its rules
EMA Cross Trend
Follows the trend on EURUSD, one hour at a time. It buys when a fast moving average crosses above a slow one while the price is above its long-term average, and sells on the opposite cross.
- Market
- EURUSD
- Bars
- 1-hour bars (H1)
- What it does
- Opens trades
Read its rules
London Breakout
At 08:00 London time it places one order above and one below the night's price range on GBPUSD. The first order to fill cancels the other, and everything is closed before the weekend.
- Market
- GBPUSD
- Bars
- 1-hour bars (H1)
- What it does
- Opens trades
Read its rules
Start building
Open the builder and build your first robot. It is free while we launch.