ProTrade Bollinger RSI EA
- Experts
- Version: 1.1
- Activations: 10
ProTrade Bollinger RSI EA
Product Overview
ProTrade Bollinger RSI EA is a professional automated trading Expert Advisor for MetaTrader 5 that executes mean reversion trades based on proprietary Bollinger Bands and RSI analysis. This EA combines statistical extremes with momentum confirmation to identify high-probability reversal opportunities, while providing professional risk management, visual dashboard controls, and full chart customization.
This EA is designed for traders who prefer mean reversion strategies and want automated execution with full control over risk parameters, session filters, and the ability to pause/resume trading instantly without removing the EA from the chart.
Key Features
Mean Reversion Trade Execution
- Executes trades automatically when price reaches statistical extremes combined with momentum confirmation
- All entries include pre-calculated position sizing based on user-defined risk
- Magic Number assignment enables precise trade tracking and filtering
- Works on any symbol and timeframe supported by MetaTrader 5
Intelligent Position Sizing
- Calculates lot size dynamically based on account balance, risk percentage, and stop loss distance
- Respects broker lot step, minimum, and maximum constraints
- Ensures consistent risk exposure regardless of market volatility or symbol specifications
Professional Trade Management
- Auto Breakeven: Automatically moves stop loss to entry price after specified profit is reached, with configurable offset
- Trailing Stop: Dynamically adjusts stop loss as price moves in favor, with configurable activation threshold and distance
- One-click Start/Pause control to enable or disable trading logic instantly
- Close All button to immediately exit all EA-managed positions
Entry Quality Filters
- Spread Filter: Prevents trading when market spread exceeds user-defined threshold
- Session Filters: Restricts trading to specific market sessions (London, New York, Tokyo) to align with preferred liquidity conditions
- Daily Trade Limit: Caps the number of entries per day to prevent overtrading
Comprehensive Safety Controls
- Daily Loss Limit: Automatically pauses trading if daily loss exceeds user-defined percentage
- Minimum Balance Protection: Disables trading if account balance falls below specified threshold
- Magic Number Filtering: Ensures EA only manages its own trades
Chart Customization Suite
- Apply professional color schemes with one click
- Control candle colors, grid visibility, price lines, and volume display
- Customizable Bollinger Bands line colors (upper, middle, lower)
- Auto-apply option for consistent workspace setup on initialization
Real-Time Dashboard
- On-chart panel shows:
- Current trading status (Active/Paused)
- Today's profit/loss and trade count
- Account equity
- Current BB period, RSI period, and risk settings
- Color-coded status indicators for at-a-glance monitoring
How To Use
Step 1: Attach the EA to any chart in MetaTrader 5. The dashboard and control buttons will appear automatically.
Step 2: Configure strategy settings. Adjust Bollinger Bands period/deviation and RSI period/levels according to your preferred mean reversion parameters.
Step 3: Set risk management parameters. Define your risk percentage per trade, stop loss, take profit, and enable breakeven/trailing stop features as desired.
Step 4: Apply entry filters. Set spread limits and session preferences to align with your trading approach.
Step 5: Configure safety controls. Set daily loss limits and minimum balance requirements appropriate for your account.
Step 6: Customize chart appearance. Adjust colors and display options for your preferred workspace. Enable auto-apply or use the Chart button manually.
Step 7: Monitor and control. Use the Start/Pause button to enable or disable trading instantly. Use Close All to exit all positions if needed.
Input Parameters
Strategy Parameters
- BBPeriod: Period for Bollinger Bands calculation
- BBDeviation: Standard deviation multiplier for Bollinger Bands
- RSIPeriod: Period for RSI calculation
- RSIOversold: RSI level considered oversold (for buy signals)
- RSIOverbought: RSI level considered overbought (for sell signals)
- TakeProfitPips: Default take profit distance in pips for new trades
- StopLossPips: Default stop loss distance in pips for new trades
- MagicNumber: Unique identifier for trades opened by this EA
Risk Management Parameters
- RiskPercent: Percentage of account balance to risk on each trade
- EnableBreakeven: Activate or deactivate auto breakeven feature
- BreakevenTriggerPips: Profit in pips required to trigger breakeven
- BreakevenOffsetPips: Additional pips above entry for breakeven stop loss
- EnableTrailingStop: Activate or deactivate trailing stop feature
- TrailingStartPips: Profit in pips required to activate trailing
- TrailingDistancePips: Distance in pips to trail behind price
Entry Filter Parameters
- MaxSpreadPips: Maximum allowable spread for trade execution
- TradeLondon, TradeNewYork, TradeTokyo: Enable trading during specific market sessions
- MaxTradesPerDay: Maximum number of trades allowed per day
Safety Control Parameters
- EnableMaxDailyLoss: Activate daily loss limit protection
- MaxDailyLossPercent: Maximum allowable daily loss as percentage of equity
- MinAccountBalance: Minimum account balance required for trading
Chart Appearance Parameters
- ChartBackground, ChartForeground, ChartGrid: Colors for chart background, text, and grid
- ChartUpColor, ChartDownColor: Colors for upward and downward price movement elements
- BullCandleColor, BearCandleColor: Colors for bullish and bearish candles
- VolumesColor: Color for volume histogram
- StopLevelsColor: Color for stop level indicators
- BBUpperColor, BBLowerColor, BBMiddleColor: Colors for Bollinger Bands lines
Chart Display Options
- ShowTicker, ShowOHLC, ShowGrid: Toggle display of ticker, OHLC values, and grid
- ShowBidPriceLine, ShowAskPriceLine, ShowLastPriceLine: Toggle price line visibility
- ShowPeriodSeparators, ShowTradeLevels, ShowTradeHistory: Toggle additional chart elements
- ShowTickVolumes, ShowRealVolumes: Toggle volume display type
- AutoApplyChartSettings: Apply chart settings automatically on initialization
Dashboard Parameters
- ShowDashboard: Enable or disable the on-chart dashboard
- DashboardBG, DashboardText: Colors for dashboard background and text
- DashboardActive, DashboardInactive: Colors for active and inactive status indicators
Important Information
Automated Trading Tool
This EA executes trades automatically based on proprietary Bollinger Bands and RSI analysis. The internal signal generation methodology is not disclosed to protect intellectual property. All trading decisions are based on user-configured risk and management parameters.
No Profit Promise
This EA is a tool for systematic trade execution and risk management. It does not guarantee profits or improved trading performance. Trading foreign exchange and CFDs carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
Risk Disclosure
Users are responsible for their own trading decisions and risk management. This EA calculates position sizes based on user-defined parameters but does not assess market conditions or trade suitability. Users should understand the risks of leveraged and automated trading before using this EA.
Testing Recommendation
Always test this EA on a demo account before using with real capital. Verify that all settings, filters, risk controls, and visual features function as expected in your specific trading environment.
Compatibility
Designed exclusively for MetaTrader 5. Not compatible with MetaTrader 4. Requires a broker account that allows automated trading and order execution.
Data and Logging
All trade executions and management actions are logged in the MetaTrader Journal tab. Users should review logs regularly to confirm the EA is functioning as configured. The EA does not store or transmit personal trading data externally.
Chart Customization Note
Price line colors (Bid, Ask, Last) are controlled by MetaTrader terminal settings, not by this EA. Users must set these colors manually in Tools → Options → Charts if they wish to customize line colors. This EA controls line visibility only.
System Requirements
- MetaTrader 5 build 2244 or higher
- Windows 7 or later operating system
- Broker account with automated trading permissions enabled
- Adequate account balance to support minimum lot sizes and risk parameters for selected symbols
Support
For questions regarding functionality, settings, or usage, please refer to the information printed in the Experts tab when the EA initializes. Additional documentation is available in this product description.
Final Notes
ProTrade Bollinger RSI EA is designed to assist disciplined traders with consistent, systematic mean reversion trade execution and professional risk management. It is not a substitute for trading knowledge, market analysis, or sound money management principles. Users should ensure they understand all features and settings before relying on this EA with real capital.
This EA does not provide financial advice, trading signals, or market predictions. All trading decisions remain the sole responsibility of the user. Always trade responsibly and within your risk tolerance.
