Good afternoon, fellow traders! Today, I want to introduce you to an exciting Expert Advisor that leverages Bollinger Bands and the Donchian Channel to help you make smarter trading decisions.
Sell Signal: You’ll want to keep an eye out for when the Donchian Channel is trending downwards. When the opening price is above the upper boundary of the Bollinger Bands, and then the closing price dips below that upper boundary, it’s time to consider a sell.
Buy Signal: Conversely, if the Donchian Channel is on the rise, look for opportunities when the opening price is below the lower boundary of the Bollinger Bands, and the closing price climbs above it. This is your cue to buy!
Closing your trades can be done in two ways: either through your stop-loss and take-profit settings, or when the price breaks through the Donchian Channel.
Additionally, this Expert Advisor comes equipped with a handy R-square calculation feature in its code, which can provide you with more insights into your trades.
To give you a practical example, here’s a test of the EURUSD from January 1, 2020, to April 1, 2025:
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