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Check out the new article: Price Action Analysis Toolkit Development (Part 7): Signal Pulse EA.

Unlock the potential of multi-timeframe analysis with 'Signal Pulse,' an MQL5 Expert Advisor that integrates Bollinger Bands and the Stochastic Oscillator to deliver accurate, high-probability trading signals. Discover how to implement this strategy and effectively visualize buy and sell opportunities using custom arrows. Ideal for traders seeking to enhance their judgment through automated analysis across multiple timeframes.

The Signal Pulse script generates trading signals based on the alignment of Bollinger Bands and the Stochastic Oscillator across three timeframes (M15, M30, and H1). The conditions for each signal are as follows:

Buy Signal

1. Bollinger Bands Condition: The price touches the lower band of the Bollinger Bands on all three timeframes.
2. Stochastic Oscillator Condition: The Stochastic Oscillator indicates an oversold condition on all three timeframes, typically below 20.
3. Confirmation Requirement: Both conditions must be met simultaneously across M15, M30, and H1 timeframes to generate a buy signal.

Fig 1. Buy Conditions

Author: Christian Benjamin