BollingerRSI Strategy MT4
- Indicators
-
Ulises Calderon Bautista
I am a candidate for Actuary with a strong expertise in the field of insurance and social security, in addition to being an active investor with a talent for mathematics. My passion for programming and finance drives my constant pursuit of learning and improvement. - Version: 1.1
### 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
