JaguarForex

Course Content
Introduction to Bollinger Reversal Pro
In this module, you'll be introduced to the Bollinger Reversal Pro EA and the basics of how it works. You will learn about Bollinger Bands and their importance in trading, as well as the core strategy of the EA—placing reverse orders when the price hits the outer bands. The module will also explain the built-in filter that checks the pip distance between the upper and lower bands before placing trades, ensuring better trade quality. This sets the foundation for understanding and using the EA effectively.
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Understanding Bollinger Bands with John Bollinger
04:19
What is a Bollinger Band?
09:39
Bollinger Reversal Trade Entries Rules
00:00
Increase accuracy using Entry Filter
00:00
Risk Management – Stop Loss
00:00
Risk Management – Activating Recovery Orders
00:00
Risk Management – Recovery Lot Size Calculation
00:00
Risk Management – Minimum Recovery Distance
00:00
Risk Management – Timing of Operation
00:00
Currency Pairs and Timeframes
00:00
EA Settings Overview
00:00
Installation and Setup
00:00
Troubleshooting and Common Issues
00:00
BollingerReversalPro EA
About Lesson

Why Filtering Trade Entries is Important
Filtering trades is essential to avoid false signals and ensure better-quality trades. When Bollinger Bands expand, it indicates high volatility, increasing the chances of market reversals. By filtering out low-probability trades, you can improve your chances of hitting your take profit and reduce the risk of false entries.

Using the Bollinger Band Distance Filter

The Bollinger Reversal Pro EA uses the distance between the upper and lower bands (measured in pips) to filter out trades in low-volatility markets. When the bands are too close, false signals are more common. Setting a minimum pip distance helps the EA avoid placing trades in these conditions.

  • Example: If you set the distance filter at 50 pips, the EA will only enter a trade when the distance between the bands is greater than 50 pips, preventing trades in flat or low-movement markets.

Recovery Orders for Non-Reversals
If the market doesn’t reverse as expected, the Recovery Order feature kicks in. This tool places additional trades at fixed intervals to help recover the position, ensuring that the sequence of trades eventually leads to a profit.

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