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Expert Advisor based on RSI and BB strategy for MQL4

MQL4 Experts Statistics and mathematics C++ MySQL HTML Trading robot/indicator debugging Strategy optimization Forex

Job finished

Execution time 2 days

Specification

I would like to create an EA based on the attached working indicator which places orders based on the Bollinger Bands and RSI.

1. The idea of the trading system is as follows: market entries are performed when it crosses inside RSI overbought and BB upper line for short trades and the opposite for long trades.

2. Trading Signals:

  • Buy signal: close price crosses inside BB lower line and RSI crosses oversold level.
  • Sell signal: close price crosses inside BB upper line and RSI crosses overbought level.

3. Positions are opened at the market price, when a new bar emerges. The Expert Advisor is to be tested using Open prices, so there is no need to add functions for disabling operations inside the bar.

4. Positions are only closed by stop loss which could be set as infinity (up to account equity)

5. Position management There can only be a limited number of positions open at a certain time

6. Inputs required:

  • RSI period (default 14)
  • RSI overbought level (default 70)
  • RSI oversold level (default 30)
  • BB period (default 20)
  • BB standard deviation (default 2)
  • Take profit in percentage (default 10%)
  • Stop loss in percentage (default 50%)
  • Number of orders open simultaneously (default 5)
  • Equity per order ($100 or 10% of account equity)
  • Order margin (x200)
  • true/false to activate or deactivate long and short orders separately

Files:

MQ4
RSI_vs_BBv3.mq4
4.3 Kb

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Published: 2 codes
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Project information

Budget
30 - 100 USD
Deadline
to 5 day(s)