Advanced Bollinger Bands RSi EA MT5

[MT4 Version]

Advanced Bollinger Bands RSI EA MT5

Advanced Bollinger Bands RSI EA is an Expert Advisor based on the worldwide known strategy BB & RSI. This strategy uses the Bollinger Bands indicator in combination with the RSI, the signal triggers only when both the BB and the RSI indicate at the same time overbought or oversold conditions. Both indicators make a great combination to anticipate big explosive moves. Advanced Bollinger Bands RSI EA grants the user the posibity to use 3 different SL modes and 4 TP definitions. This high customization level allows the EA to be adapted, not only to different risk profiles, but also to different pairs and timeframes.

Do you have a conservative risk profile? Set a fix SL based on price structure or defined by points and a TP based on the middle BB line or on a Risk to Reward ratio. 

Do prefer getting notified and take the final decision yourself? Deactivate Buys and Sells and let the EA notify you of new potential entries

Advanced Bollinger Bands RSI EA  DOES NOT use high risk methods such as Martingale or Grids.

It is ideal for trendy financial assets or for the final phase of a consolidation period.

Really easy to configure

The testing and optimization of the input parameters for the conditions of each user and broker are highly recommended to maximize results.

Some of the features of the EA are as follows:

• The strategy will 100% be followed regardless of your trading psychology 
• Save time
• Highly customizable
• Hybrid use
• Functional on all pairs (Crypto, Forex, Stocks, Indices, Commodities…)

Input parameters

Settings:

• Enable Buys: Enable Buys
• Enable Sells: Enable Sells
• SL Mode
• SL_None: No active SL
• SL_structure: SL based in price structure
• SL_points:  SL based on points
• TP Mode
• TP_BB_and_RSI_signal: Open positions are closed on new contrary signal
• TP_BB_band: Open positions are closed when price crosses the opposite band of the BB indicator
• TP_BB_middle_line:  Open positions are closed when price crosses the middle line of the BB indicator
• TP_RRR: TP based on RRR
• SL Points (if SL_points Mode): Points to set SL if SL_points is selected
• RRR (if TP_RRR): RRR if TP_RRR mode is selected

Risk Management Settings:

• Lot Size: Position’s volume (Must be higher than the minimum and lower than the maximum Symbol Volume)
• Max position number per direction

RSI Settings: 

• RSI Period
• RSI OB: Overbought level
• RSI OV: Oversould level

BB Settings: 

• BB Period
• BB Mult
• Price Source
• MA type

Notifications:

• Activate Alerts: Enable signal alerts
• Activate Notifications: Enable mobile phone notification

Support and questions

Do not hesitate to contact me for any questions and support

Author

Diego Arribas, private investor and speculator, automation engineer in the aerospace industrie