MMMBollingerXRSI for Trend and Scalping
- Experts
- Andre Tavares
- Version: 1.17
- Updated: 7 December 2021
- Activations: 5
MMMBollingerXRSI EA strategy:
- The robot keeps checking RSI and Bollinger Bands all the time and does a calculation to determine the prices trends. If the currency pair's prices breaks the RSI upper line and also breaks the Bollinger Bands upper line, it sends a sell order. If the currency pair's price breaks the RSI lower line and also breaks the Bollinger Bands lower line, it sends a buy order. It will not send an order unless the calculations determines a good trend of profit;
- Like all MMM products it is also programmed to minimize your losses and protect your money from the hostile market. We have protections like Trailing Stop Loss where the stop loss may be moved near to the pair current price once the order has positive profit. You can also define the account minimum equity percentage required to send a new order;
- You can define the maximum number of simultaneously open orders for each symbol and the minimum value of profit in deposit currency before an order is closed;
Inputs
- Closes orders with any profit of value over specified in currency: this parameter works like the traditional take profit, but the difference is that you define it's value in deposit currency, usually USD. Any order with profit greater or equal to this value will be closed. If you do not want to use it, fill it out with 0 (zero).
- Take profit (order profit ceiling): this parameter is the traditional take profit. Its value is filled out with in pips unit. Orders will automatically be open with this take profit value. If you do not want to use it, fill it out with 0 (zero).
- Stop loss (loss limit): this parameter is the traditional stop loss. Its value is filled out with in pips unit. Orders will automatically be open with this stop loss value. If you do not want to use it, fill it out with 0 (zero).
- Lots volume to trade: fill in this parameter to define the volume of the orders of this currency pair.This parameter is mandatory.
- Trailing stop loss: this parameter is the traditional trailing stop loss. Its value is filled out in pips unit. Orders will automatically be open with this stop loss value. If you do not want to use it, fill it out with 0 (zero).
- Maximum number of simultaneous orders to open os this symbol: this parameter defines the maximum number of simultaneous open orders of the current symbol. If you do not want to use it, fill it out with 0 (zero).
- Minimum equity percentage to allow opening new orders: this parameter is used to define the minimum equity required to open new orders in order to protect your equity.
- Double the trading volume (lots) if prior order if profitable: if this parameter is set to true, the EA will double the volume of the next orders after closing a profitable order of the current symbol. If you do not want to use it, fill it out with false.
- RSI Period: this parameter defines the RSI period. The EA works using the RSI indicator and measures the speed the currency pair changes it's value as well, so that it is able to determine the market trend about the symbol it is working with. It is recommended to leave it with its default value (14) if the trader doesn't know what to do with this parameter. This parameter is mandatory.
- Lowest RSI value: this parameter defines the RSI lowest value. The EA works using the RSI indicator and measures the speed the currency pair changes it's value as well, so that it is able to determine the right moment to open buy orders. It is recommended to leave it with its default value (30) if the trader doesn't know what to do with this parameter. This parameter is mandatory.
- Highest RSI value: this parameter defines the RSI highest value. The EA works using the RSI indicator and measures the speed the currency pair changes it's value as well, so that it is able to determine the right moment to open sell orders. It is recommended to leave it with its default value (70) if the trader doesn't know what to do with this parameter. This parameter is mandatory.
- Bollinger Bands Period: this parameter defines the Bollinger Bands' period. The default value is 20. Do not touch it if you don't know what you are doing. This parameter is mandatory.
- Bollinger Bands Deviation: this parameter defines the Bollinger Bands' Deviation. The default value is 2. Do not touch it if you don't know what you are doing. This parameter is mandatory.
