EA VBB

Description

VBB is an EA (Expert Advisor) called One Shot configured on FXCE Giga. It is a trading system that uses the Bollinger Bands indicator combined with the use of virtual orders before placing a Market order to minimize risk when the initial signal is incorrect.

Trading Strategy of VBB:

Strategy Description:

Buy when the price touches and crosses above the lower Bollinger Band (BB) three times.

Sell when the price touches and crosses below the upper Bollinger Band (BB) three times.

After three instances of price touching the band, enter a Market order. Each time the price touches the band and continues beyond the stop loss (SL) level, the distance between each touch should be at least 30 pips.

-> Applying virtual orders to the trading strategy:

• When the price touches the band, place the first virtual order.
• After the first virtual order hits the stop loss (SL), wait for the price to touch the band again and the current price distance from the first virtual order should be at least 30 pips. Then, place the second virtual order.
• After the second virtual order hits the stop loss (SL), wait for the price to touch the band again and the current price distance from the second virtual order should be at least 30 pips. Then, place the third virtual order.
• If the third virtual order hits the stop loss (SL), enter a Market order.
• If the price moves in the right direction and hits the take profit (TP), cancel all virtual orders and wait for the next signal.

Trade using single orders. After entering a trade, set the stop loss (SL) based on the length of the previous candle. Take profit (TP) should have a risk-reward ratio of 1:2.

Technical Indicator:

• BB(20)

Note: Do not use the Bollinger Bands indicator in MT5. Use the BB indicator under the “Indicator > Custom” section.

Guide to configuring Giga VBB:

Setting up Buy Entry Points

Setting up Sell Entry Points

Volume, Stop Loss, and Take Profit for each order

Setting up Virtual Order Settings

Leave other settings as default.

Setting up Actions