Bollinger Wave EA MT5

Gold reversals with Bollinger Bands and pending-order grids

Bollinger Wave EA MT5 trades XAUUSD on M5 using a Bollinger Band reversal signal followed by a grid of pending stop orders. Configurable order spacing, individual stop losses, trailing protection and fixed or percentage sizing make the entry structure adjustable rather than a single market-order setup.

How Bollinger Wave enters a trade

The published buy logic looks for price near the lower band, an upward bounce and price still below the middle band. It then places buy stops above the current market. Sell logic mirrors this at the upper band, using a downward retracement before placing sell stops below price. The pending orders therefore require a further move to activate; touching a band alone is not described as an immediate fill.

Delta controls the distance to the pending entry, while MaxDistance limits the permitted activation range. MaxPendingOrders sets a cap for each direction. The band filter can be switched off, and its period, deviation and shift can be changed. Disabling it changes the filtering conditions, so test that configuration separately rather than assuming the original mean-reversion rationale still applies.

Position control and practical setup

The developer lists an individual stop loss, a margin check and a maximum-spread filter. Trailing protection has separate starting-profit and distance inputs. FixedLot selects a fixed position size when positive; the listed alternative is percentage sizing. The description uses both equity and balance wording for that calculation, so confirm the actual input behavior in the supplied build before setting exposure.

Start testing on the recommended gold M5 chart with the broker’s correct symbol and contract specification. The author gives a minimum account figure of $1,000 and recommends low spreads and a continuously connected VPS. That capital figure is a setup recommendation, not evidence that a gold grid is safe at that balance. Check how this broker translates pips, points, minimum stop distances and margin into actual order sizes.

Where the grid needs particular attention

Multiple pending entries can become multiple open positions during a fast move. A per-order stop and a pending-order cap do not equal an account-level loss limit, and mean reversion can fail during a persistent gold trend. Size the possible group of positions together, including spread widening and slippage. The author describes prop-firm compatibility, but each firm’s exposure, drawdown and execution rules still need separate checking.

Product specifications

Platform

MetaTrader 5

Market and chart

XAUUSD / gold, M5

Entry method

Band-reversal signals followed by pending stop orders

Exposure controls

Fixed or percentage lots, individual stops, pending-order caps and margin checks

Filters

Bollinger parameters, trading hours and maximum spread

Trade management

Adjustable trailing start and distance

Developer screenshots and testing context

The two original developer images below show a Strategy Tester configuration and report. The configuration covers 1 January 2025 to 17 January 2026 with ideal execution and no forward test selected. These are simulations, not a monitored live account or a promise of comparable returns.

Explore related systems

For other band-based gold approaches from the same developer, compare Golden Bands Pro EA MT5 and Bollinger Piece Gold EA MT5. These are separate products; similar market coverage does not imply identical settings or performance.

Read Bollinger Wave EA on MQL5 for the developer’s original specifications and current product details.

What is included

Free lifetime updates. Instant post-purchase access is to delivery instructions; the shared DeliveryInformation.txt document is not the EA executable. Email setup help and optional free AnyDesk installation assistance are available for this product.