1- wait for a bar (open, high, low or close) to cross the band (upwards for a long entry, downwards for a short entry)
No. You don't need crossing of the current band.
Bollinger Band is based on the closing price right? UpBB = MA(Close, 20) + 2* Std. Dev.
Imagine the following case:
Trading on a daily chart at the time is 2pm. MetaTrader plots the current bar and announces that the current price (at 2pm) is the closing price. Respectively it plots also the B Bands. But this is the closing price and this is not the B Band. These are some Current price and bands. They will change till the end of the bar. The platforms shows this values but they are not Final. You and every one who pretends for correct backtesting cannot use the current values. Doing so you'll receive wrong backtest results. To prevent this FST automatically decides whether to use current values or previous values for backtesting.
The cases are:
- When the indicator is based on Close and the position opens on price different from Bar Open, you have to use the previous values.
- When the indicator is based on Close and position opens at Bar Close - current value.
- Indicator based on Open - current value.
Your case is the first one. The opening doesn't depend on the current B Band. The logic rule "Enter long at the upper Band" together with "Use previous bar value" means that you have to open long when the market price reaches the previous UpBand. You have nothing to deal with the current BB. You even don't know how much is it in the real live. The entry is at the indicator value plotted at the middle of the previous bar.
When you see an entry arrow, look at that level one bar ahead. That's the entry indicator value is. The program rises an entry signal when the price reaches the entry value +- half pips.
The prices are normalized from the broker to 4th or 5th digits. The indicators are calculated with full precision. The position price can be fractional because of averaging.
These differences of up to half pips after zooming looks like gaps in the chart. That's the reason all the information is shown in the right side info bar in digits. You can see there the Current indicator value, the entry value and the position's price.
If I'm not enough clear, please write in your posts the values or when you make screen shots put the cross at the desired bar. Make the screen shot showing the info bar like this: