RSI and Bollinger Bands - expert for MetaTrader 5
- Published by:
- Vladimir Karputov
- 2017.05.29 16:13
- 2018.06.26 14:33
A trading strategy based on RSI and Bollinger Bands. Bollinger Bands is calculated using the RSI indicator handle. Trailing stop is determined using the SAR indicator (Parabolic SAR).
- RSI breaks the upper Bollinger Band.
- The price must be below the fractal level.
- A buy signal is generated when the price breaks through the fractal level.
- A position is trailed based on Parabolic values.
- Canceling a deal — if an order has not yet triggered, and RSI moved below the level of 30, a buy order should be deleted.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/18255
An Expert Advisor for 4 currency pairs, including EURUSD, GBPUSD, USDCHF and USDJPY. It is based on four-hour moving averages.OscSAR_Histogram
The oscillator is drawn as a colored histogram based on the difference between the Close price and the iSAR indicator, expressed in points.