Tunnel Vision EA V1.0 MT5

Introduction

The Tunnel Vision EA V1.0 MT5 is an expert advisor developed for traders who appreciate the simplicity and effectiveness of the Bollinger Bands indicator. It operates within the Bollinger Bands, taking advantage of price reversals to open and close positions. Let’s dive into the details:

Key Features:

• Trading Logic: The EA trades inside the Bollinger Bands, opening SELL positions when the price crosses the upper band and reverses, and BUY positions when the price crosses the lower band and reverses.
• Currency Pair: Optimized for the EURCHF currency pair, which is known for its ranging behavior. However, it can be used with other pairs during ranging periods.
• Timeframe: Recommended timeframe is H1 (1-hour chart).
• Risk Management:
  • FixedLots: Set a fixed trading volume (works if AutoMM1=0).
  • AutoMM: Activates automatic money management (traded volume as a percentage of free margin).
• TakeProfit and StopLoss: Optional parameters to manage trade exits.
• Strategy Type: Not a martingale, hedging, or scalper; it focuses on Bollinger Bands-based reversals.

Trading Strategy:

1. Long Trades:
   • When the price crosses the lower Bollinger Band and reverses upward, the EA opens a BUY position.
   • The EA monitors the trade and closes the BUY position when the price crosses the upper Bollinger Band.
2. Short Trades:
   • When the price crosses the upper Bollinger Band and reverses downward, the EA opens a SELL position.
   • The EA closes the SELL position when the price crosses the lower Bollinger Band.

Recommended Settings:

• Magic Number: Ensure a unique magic number for this EA to avoid conflicts with other robots.
• Max Spread: Define the maximal allowed spread for position opening.
• Slippage: Set the maximal allowed slippage for position opening.

How Tunnel Vision EA Takes Trades:

1. BUY Trade:
   • Price crosses the lower Bollinger Band.
   • Reversal occurs, indicating potential upward movement.
   • EA opens a BUY position.
   • TakeProfit and StopLoss levels are optional.
   • EA monitors the trade.
   • When price crosses the upper Bollinger Band, EA closes the BUY position.
2. SELL Trade:
   • Price crosses the upper Bollinger Band.
   • Reversal occurs, suggesting potential downward movement.
   • EA opens a SELL position.
   • TakeProfit and StopLoss levels are optional.
   • EA monitors the trade.
   • When price crosses the lower Bollinger Band, EA closes the SELL position.

Conclusion

The Tunnel Vision EA V1.0 MT5 provides a straightforward yet effective approach to trading within Bollinger Bands. Traders can use it during ranging market conditions to capitalize on price reversals. Remember to optimize settings for other currency pairs and instruments.

For more information and to download the EA, visit our website: FXCracked. You can also join our Telegram channel: YoForexRobot.

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