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Hello good people
I want a simple EA with these conditions:
- The EA will use two standard indicators: BB
(Bollinger Bands) and RSI (Relative Strength Index)
3. - The BB is default set at standard settings.
Period 20, shift 0 and deviation of 2.
4. - The RSI is default set at 14.
Call entry:
Price has gone below lower BB
(either low or close of candlebar) and RSI has gone below its lower level
(default at 30). They don’t have to go below at the same time, but it’s
important that both go below their lower levels. When the price increases and
close above the lower BB we look for entry. Entry is confirmed when RSI cross
above the lower level at the close of a candle above lower BB. Enter a trade on
the open of the next candlebar when you have these conditions.
Put entry:
The exact opposite of the rules
for call.
Attached are pictures of when the EA trades, red arrows are necessary conditions and green arrows are entries. Entries from above are of course put and entries from below are calls. I don't show any exits on these pictures, they will be handled by SL, TS or TP.
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