RSI and Bollinger Bands – expert for MetaTrader 5

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Author of the idea — Anton, author of the MQL5 code — barabashkakvn.

A trading strategy based on RSI and Bollinger Bands. Bollinger Bands is calculated using the RSI indicator handle. Trailing stop is determined using the SAR indicator (Parabolic SAR).

  1. RSI breaks the upper Bollinger Band.
  2. The price must be below the fractal level.
  3. A buy signal is generated when the price breaks through the fractal level.
  4. A position is trailed based on Parabolic values.
  5. Canceling a deal — if an order has not yet triggered, and RSI moved below the level of 30, a buy order should be deleted.

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