Advanced Bollinger Bands RSi MT5

[MT4 Version] [EA]

Advanced Bollinger Bands RSI MT5

Advanced Bollinger Bands RSI is an Indicator based on the functionalities of the Advanced Bollinger Bands RSI EA. The scope of this indicator is to provide a more affordable solution for users interested in the alerts coming out of the strategy but not in Autotrading. This strategy uses the Bollinger Bands indicator in combination with the RSI, the signal triggers only when both the BB and the RSI indicate at the same time overbought or oversold conditions. Both indicators make a great combination to anticipate big explosive moves. Advanced Bollinger Bands RSI grants the user with the posibity to use 3 different SL modes and 4 TP definitions. This high customization level allows the strategy to be adapted, not only to different risk profiles, but also to different pairs and timeframes. Advanced Bollinger Bands RSI show every entry triggered by the strategy. The EA takes care of the orders management.

Do you have a conservative risk profile? Set a fix SL based on price structure or defined by points and a TP based on the middle BB line or on a Risk to Reward ratio. 

It is ideal for trendy financial assets or for the final phase of a consolidation period.

Really easy to configure. Red arrows indicate sell signals, blue arrows indicate buy signals and the green circles TP zones.

The testing and optimization of the input parameters for the conditions of each user and broker are highly recommended to maximize results.

Some of the features of the Indicator are as follows:

• Get notified when the signal is triggered
• Save time
• Highly customizable
• AutoTrading available (Advanced Bollinger Bands RSI EA)
• Functional on all pairs (Crypto, Forex, Stocks, Indices, Commodities...)

Input parameters

Settings:

• Enable Buys: Enable Buys
• Enable Sells: Enable Sells
• SL Mode
• SL_None: No active SL
• SL_structure: SL based in price structure
• SL_points:  SL based on points
• TP Mode
• TP_BB_and_RSI_signal: Open positions are closed on new contrary signal
• TP_BB_band: Open positions are closed when price crosses the opposite band of the BB indicator
• TP_BB_middle_line:  Open positions are closed when price crosses the middle line of the BB indicator
• TP_RRR: TP based on RRR
• SL Points (if SL_points Mode): Points to set SL if SL_points is selected
• RRR (if TP_RRR): RRR if TP_RRR mode is selected

• RSI Period
• RSI OB: Overbought level
• RSI OV: Oversould level

• BB Period
• BB Mult
• Price Source
• MA type

Notifications:

• Activate Alerts: Enable signal alerts
• Activate Notifications: Enable mobile phone notification

Support and questions

Do not hesitate to contact me for any questions and support

Author

Diego Arribas, private investor and speculator, automation engineer in the aerospace industry