New Indicator based on MAs and Bollinger Band

MQL5 Indicadores

Tarea técnica

***Need to create an indicator and then EA after this job is completed.

***You will see '%' below, this is based on the level of the bollinger bands. The top bollinger band is 100% and bottom bollinger band is 0%.

I will show sell example first, please read it CAREFULLY and let me know if you understand it. I will then make a video to explain it to make sure everything is clear before starting the job.


Sells:


Step 1:
Middle bollinger band value decreases in value

Step 2:
Middle bollinger band value increases in value and stays the same or keeps increasing in value until Step 5 (Signal candle).
If the middle bollinger band decreases in value before the signal candle (Step 1) then wait for Step 2 again

Step 3:

Wait for low of candle to be equal to or less than x% of bollinger band

Step 4:

Wait for low of candle to be greater than x% of bollinger band

*Important for next step:*
Check the first candle before Step 4 candle where its low is equal to or less than x% of bollinger band - We can call this candle Z.

Step 5 (Sell signal candle):
Wait for low of candle to break below the low of candle Z (do not wait for candle close)

*Important for sell to be valid*
The highest price between Step 2 and Step 5, must be higher than than the highest price between Step 3 and Step 5


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