Algorithmic Trading
Bots
74. WC-MeanReversion-BBDC-MT5-Bot

74. WC-MeanReversion-BBDC-MT5-Bot

WC: Mean reversion bot trades using Bollinger Bands and Donchian Chanel indicators

What’s new? 

1.00: First version

How It Works?

  1. 📈 Buy:
    • The price broke below the lower boundary of the Bollinger Bands but quickly returned.
    • At the same time, the price hasn’t updated its lows for a long time (according to the Donchian Channel).
    • This means sellers are weakening, and it’s a signal to go long.
  2. 📉 Sell:
    • The price went above the upper boundary of the Bollinger Bands but then returned back.
    • Meanwhile, the price hasn’t updated its highs for a long time (according to the Donchian Channel).
    • This may be a sign that the upward movement has ended, and the price is ready to decline.
  3. 📏 Risk Management:
    • Stop Loss and Take Profit are automatically calculated by the bot based on current volatility using the ATR (Average True Range) indicator.
  4. ❌ Exiting a Position:
    • If the price goes beyond the boundaries of the Donchian Channel, the bot closes the trade.

Installation | Установка

RU: Пошаговую инструкцию по установке торговых советников и индикаторов читай README_INSTALL.md EN: For step-by-step instructions on installing Expert Advisors and indicators read README_INSTALL.md.

Bot’s Input

1. TRADE

  • Magic(20250723) - Bot’s ID
  • Lots(0) - Lot Size
  • BPeriod(100) - Bollinger Bands: Period
  • BDeviation(1) - Bollinger Bands: Deviation
  • DonchPeriod(100) - Donchian Chanel: Period
  • CPeriod(100) - Check trend Period (Max and Min prices rise or fall on this period)
  • AtrPeriod(21) - ATR: Period
  • Stop(4) - SL ATR Ratio
  • Take(4) - TP ATR Ratio
  • Slippage(30) - Max slippage allowed

2. HARD SL

  • HSLDay(31) - Hard SL: Period to get profit, days (0-off)
  • HSLLoss(100) - Hard SL: Max loss allowed, account currency

3. TIME FILTER

  • F_TIM_MON("07:00-22:00") - Mon allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)
  • F_TIM_TUE("07:00-22:00") - Tue allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)
  • F_TIM_WED("07:00-22:00") - Wed allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)
  • F_TIM_THU("07:00-22:00") - Thu allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)
  • F_TIM_FRI("07:00-22:00") - Fri allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)
  • F_TIM_SAT("") - Sat allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)
  • F_TIM_SUN("") - Sun allowed intervals “HH:MM(:SS)” (’’-N/A; ‘;’-sep)