BollingerRSI Strategy

5
### Bollinger + RSI, Double Strategy v1.1

Faithful MQL4/MQL5 port of ChartArt's popular TradingView strategy (41,800+ users, 990+ favorites). Generates buy and sell signals only when **both indicators confirm simultaneously** — RSI momentum shift + Bollinger Band breakout on the same candle.

**How it works**

The strategy uses an unconventional configuration: a fast RSI(6) with its crossover level set at 50 (acting as a momentum direction filter, not an overbought/oversold detector), combined with Bollinger Bands using a 200-period SMA and 2 standard deviations (functioning as a long-term price structure channel rather than a short-term volatility envelope).

- **BUY signal**: RSI crosses above 50 AND price crosses above the lower Bollinger Band
- **SELL signal**: RSI crosses below 50 AND price crosses below the upper Bollinger Band

The dual-confirmation requirement significantly reduces false signals compared to using either indicator alone.

**Visual features**

- Bollinger Bands plotted on the chart (basis line in aqua, upper/lower bands in silver)
- Buy arrows (green) and Sell arrows (red) at signal candles
- Optional bar coloring and background highlighting matching the original Pine Script behavior
- Multi-channel alert system: popup, sound, push notification, and email

**Parameters**

| Parameter | Default | Description |
|---|---|---|
| RSI Period | 6 | RSI calculation period (shorter = more responsive) |
| RSI Level | 50 | Crossover threshold (original hardcoded at 50) |
| BB Period | 200 | Bollinger Bands SMA period |
| BB Multiplier | 2.0 | Standard deviation multiplier |
| Bar Color | On | Color candles on trend signals |
| Background Color | On | Highlight background on trend signals |
| Alerts | Off | Enable/disable alert notifications |

**Key characteristics**

- Non-repainting on closed candles
- Signals are rare due to dual-confirmation — ideal for swing trading on H1, H4, and D1
- Both the BB multiplier and RSI level (hardcoded in the original) are exposed as configurable inputs for optimization
- Compatible with any instrument: Forex, indices, commodities, crypto, stocks
- Original Pine Script source included as reference comments in the code

**Original source**

TradingView:
Author: ChartArt — Published January 2016

Reviews 1
Silverstein
80
Silverstein 2026.03.02 11:45 
 

I am still in my testing mode, but from what I can see, this does what it says on the tin. Really useful tool, plan on using a lot.

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This product was   updated   for the   2026 market   and   optimized   for the   latest MT5 builds . PRICE UPDATEe NOTICE: Smart Price Action Concepts   is currently available for $200. The price will   increase to $299   after the next   30 purchases. SPECIAL OFFER:  After purchasing , send me a private message to claim FREE Bonus + Gift. First of all Its worth emphasizing here that this Trading Tool is Non Repainting , Non Redrawing and Non Lagging Indicator , Which makes it ideal for profe
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## English ### Correlated MT5 v8.1 Correlated MT5 v8.1 is a multi-symbol Expert Advisor for MetaTrader 5 that analyzes asset baskets, correlation, and mean reversion. It can be used as a market-reading dashboard or as an automated system with exposure, position sizing, and risk controls. #### How it works - Builds a basket with 3 to 10 symbols and normalizes their prices. - Calculates a correlation matrix and can filter noise with Random Matrix Theory. - Entries require a minimum corre
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English ### ExoPanels v7.1 ExoPanels v7.1 is an analysis panel for MetaTrader 5 that displays correlations, returns, and statistical metrics for several symbols in one view. Its main purpose is to help identify overexposure between assets and compare market behavior without constantly switching charts. #### How it works The indicator reads the configured symbols, loads historical data from the active timeframe, and calculates a Pearson correlation matrix using the selected method. It a
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Silverstein
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Silverstein 2026.03.02 11:45 
 

I am still in my testing mode, but from what I can see, this does what it says on the tin. Really useful tool, plan on using a lot.

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