Bollinger Wave EA MT5 (Official version) | Unbounded

Product Overview

Bollinger Wave EA MT5 is an advanced automated trading system for MetaTrader 5, specifically designed to trade XAU/USD (Gold) using a combination of Bollinger Bands analysis and grid-based pending order management.

The EA is built around a mean reversion trading concept, identifying potential overbought and oversold conditions when price approaches the extreme levels of the Bollinger Bands. Instead of entering immediately at market, Bollinger Wave EA MT5 strategically places pending orders at predefined distances to participate when price movement confirms the expected direction.

The system combines Bollinger Bands signal analysis, grid management, Stop Loss protection, trailing stop functionality, spread filtering, time filters, margin checks, and exposure controls to create a structured automated trading environment.

Optimized for XAUUSD on the M5 timeframe, Bollinger Wave EA MT5 is designed for traders who want to automate short-term Gold trading while maintaining configurable risk and capital management.

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About the Developer

• Author: Ignacio Agustin Mene Franco
• Experience: Over +2 years of experience on MQL5.
• Notable Products: Bollinger Wave EA, Ichimoku Gold Scalper EA, Neural FX MACD EA, Quantum Macd Bolinger EA, Hunter Scalperr EA, Ichimoku Scalper Gold EA MT4, Level Hard Xauusd, Danesha Xauusd, Power Fusion Xauusd, Level Slow Xauusd EA MT4 and other advisors.
• Flagship Product: Bollinger Wave EA MT5 is rated as the best performing product of the year.

>> Delivery time 24h-48h after payment.
>>> Refund if not delivered.
>>> You will receive the latest version without any limitations (ID+Time).

>>Reviewed by Jason Stap <<

Main Features of Bollinger Wave EA MT5

Bollinger Bands Mean Reversion Strategy

The core of Bollinger Wave EA MT5 is a Bollinger Bands-based mean reversion strategy.

The EA monitors price behavior around the upper and lower Bollinger Bands to identify potential reversal conditions.

Key parameters include:

• Bollinger Bands Period: 20
• Standard Deviation: 2.0
• Configurable indicator shift
• Optional Bollinger Bands filter
• Previous-candle validation
• Customizable indicator settings

Traders can enable or disable the Bollinger Bands filter according to their preferred configuration.

Intelligent Grid Pending Orders

Instead of relying exclusively on immediate market execution, the EA uses strategically positioned pending orders.

The system can automatically:

• Calculate pending order distances
• Place Buy Stop and Sell Stop orders
• Limit the number of pending orders
• Control maximum activation distance
• Automatically trigger orders when price reaches predefined levels
• Manage exposure through configurable grid parameters

This allows the EA to participate in price movements while maintaining predefined entry structures.

Automated Stop Loss

Every position can be protected with an automatically calculated Stop Loss.

The Stop Loss distance is configurable through the EA’s input parameters, allowing traders to adapt the system to different market conditions and risk preferences.

4. Intelligent Trailing Stop

Bollinger Wave EA MT5 includes an automated trailing stop system designed to protect accumulated profits.

The trailing mechanism can:

• Activate after a predefined profit level
• Follow favorable price movements
• Automatically adjust Stop Loss
• Lock in profits as the trade develops
• Use customizable trailing start and trailing step values

Flexible Money Management

The EA supports two primary position-sizing methods:

Fixed Lot Mode:
Traders can specify a fixed lot size for each position.

Risk Percentage Mode:
When FixedLot is set to zero, the EA can calculate position size according to the selected percentage of account balance.

This provides flexibility for different account sizes and risk-management approaches.

Spread and Margin Protection

Before executing trades, the EA can check market conditions and account availability.

Protection mechanisms include:

• Maximum spread filter
• Margin availability check
• Maximum pending-order limit
• Slippage control
• Stop Loss protection
• Trading-time restrictions

These features are designed to reduce unnecessary exposure during unfavorable execution conditions.

How Does Bollinger Wave EA MT5 Work?

Bollinger Wave EA MT5 follows a mean reversion approach based on the relationship between price and the Bollinger Bands.

The system primarily looks for situations where price moves toward an extreme band and then shows signs of reversing.

BUY Signal

A potential BUY setup can occur when:

1. Price touches or approaches the lower Bollinger Band.
2. The market shows signs of upward momentum or a bounce.
3. Price remains below the middle Bollinger Band, supporting the oversold interpretation.
4. The EA calculates an appropriate pending-order level.
5. A BUY STOP order can be placed above the current price according to the configured grid distance.
6. If price reaches the pending level, the order can be activated automatically.

SELL Signal

A potential SELL setup can occur when:

1. Price touches or approaches the upper Bollinger Band.
2. The market begins showing downward momentum.
3. Price remains above the middle Bollinger Band.
4. The EA calculates the configured pending-order level.
5. A SELL STOP order can be placed below the current price.
6. The order can be triggered automatically when price reaches the defined level.

The EA continuously manages pending orders and open positions according to the configured Delta, MaxDistance, StopLossPips, TrailingStart, TrailingStep, MaxSpread, and MaxPendingOrders settings.

Why Choose Bollinger Wave EA MT5?

Designed for XAUUSD Gold

Bollinger Wave EA MT5 is specifically optimized for XAU/USD, one of the most actively traded and volatile instruments in the financial markets.

Bollinger Bands + Grid Methodology

The combination of Bollinger Bands mean reversion analysis and structured pending orders gives the EA a clearly defined trading framework.

Fully Automated Trading

Once properly configured, the EA can monitor the market and manage trades automatically without requiring manual order execution.

Advanced Risk Controls

The system includes multiple protective mechanisms such as:

• Stop Loss
• Trailing Stop
• Spread Filter
• Margin Check
• Time Filter
• Pending Order Limits
• Slippage Control

Flexible Configuration

Almost every major component of the trading system can be adjusted through the MT5 input parameters, allowing traders to optimize the EA for their broker and preferred risk settings.

Prop Firm and Regular Broker Compatibility

The EA is designed for use with both regular brokerage accounts and prop-firm environments, subject to the specific rules and restrictions of each provider.

Bollinger Wave EA MT5 Backtest Results

• Initial Deposit: $1,000
• Total Net Profit: $93.543,20
• Win Rate (% of total): 78,42%
• Maximum Drawdown: 8,15%

Bollinger Wave EA MT5 backtets

What’s Included in the Download Package?

• Setting (If Any).docx
• Installation Guide.docx

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Final Thoughts

In summary, Bollinger Wave EA MT5 is a specialized XAUUSD Gold Expert Advisor for MetaTrader 5 that combines Bollinger Bands mean reversion analysis with automated grid pending-order management.

Its main features include automatic Stop Loss, intelligent trailing stop, flexible position sizing, spread filtering, margin protection, trading-time controls, and pending-order limitations.

The EA is particularly structured around short-term M5 Gold trading, where Bollinger Band price reactions and mean-reversion opportunities can be systematically monitored.

However, because XAUUSD can experience substantial volatility and the system uses grid-based pending orders, proper risk management and extensive testing are essential. Traders should optimize the settings for their own broker, evaluate performance across different market conditions, and use conservative exposure before considering live deployment.