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Bollinger Bands King is an MT5 expert advisor that opens trades from Bollinger Bands conditions and can add averaging orders at set distances and lot sizes. Its default inputs were tuned by the author for EUR/USD on M30.
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Bollinger Bands King is an expert advisor for MetaTrader 5 that uses the Bollinger Bands indicator to decide when to open positions. It can also place extra orders at set distances from the first one, using different lot sizes, so that a losing position may be averaged and closed more easily.
The expert watches price against the upper and lower Bollinger Bands. When price moves outside or back from a band, which many traders read as an overbought or oversold condition, the advisor can open an initial trade. Because it is hard to know when a move will turn, the advisor does not rely on a single entry. If price keeps going against the first order, it can add further orders at chosen distances, each with its own lot size.
Adding positions lowers the average entry price on the basket, so a smaller retracement may be enough to close it. The cost is higher exposure while price moves the wrong way. How far apart the orders sit and how large each one is are the main factors in how much risk the account carries.
The author tuned the default inputs for EUR/USD on the M30 chart. The band logic is not tied to one symbol, so other Forex pairs can be tried, but the step distance and lot size should be adjusted for each pair, since volatility and pip values differ. Test every new symbol and timeframe on a demo account before trading live.
Exact input names can differ, so open the Inputs tab after attaching the expert and read each description. These are the groups of settings to look for:
| Setting group | What to check |
|---|---|
| Initial lot size | Size of the first order; scale it to your balance |
| Step distance | Gap between the first order and each added order |
| Additional lot sizes | How the lot grows or stays flat for added orders |
| Bollinger Bands parameters | Period and deviation used for signals |
| Order limits | Maximum number of orders allowed in a basket |
Trading carries risk, and past results do not predict future ones. Averaging strategies can build large open positions during a strong trend, which may lead to substantial losses. Start on a demo account, use lot sizes you can afford, and never trade money you cannot lose.
Run the settings on a demo account for a meaningful period before considering live use, and review how the advisor behaves in trending conditions in particular.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Trend, Momentum |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Core indicator | Bollinger Bands |
| Trade style | Band-based entries with optional averaging orders |
| Default tuning | EUR/USD, M30 chart |
| Other markets | Forex pairs, after adjusting step and lot size |
| Account type | Standard account recommended; raw accounts not advised |
| Requirements | Algo trading enabled, stable connection or VPS |
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No. This listing is for MetaTrader 5 only. An MT4 terminal cannot load it, so check which platform your broker account uses before buying.
The author advises a standard account and says not to use it on a raw-spread account. Confirm the account type with your broker, and test on a demo account first to see how it behaves with your spreads and commissions.
The approach is based on band conditions that appear on any Forex pair, so it can be run elsewhere. You will need to adjust the step distance and lot size, because the default values were tuned for EUR/USD on M30. Test any new pair on a demo account before using real funds.
Copy the expert advisor file into the Experts folder of your MT5 data directory (File, then Open Data Folder, then MQL5, then Experts), restart the terminal or refresh the Navigator, then drag it onto a chart. Make sure Algo Trading is switched on.
Averaging can lower the average entry price, but it also increases exposure when price keeps moving against the position. It carries real risk and can lead to large drawdowns. Choose lot sizes and step distances that your account can absorb, and remember that past results do not predict future ones.
No minimum deposit is given here. The right amount depends on your lot size, the step between orders and how many additional orders you allow. Work this out on a demo account and check your broker's margin requirements.
Bollinger Bands King
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