simple ea using bollinger, rs i and ma
Info
The simple ea using bollinger, rs i and ma is a Expert Advisor for MetaTrader 5 that hello,this simple ea open trade when the last bar is closing above or under bollinger bands, with rsi value overbought or oversold and using a d1 moving average as trend filter. automatic take profit on medium bollinger band on opening bar, stop lose to be setted.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use simple ea using bollinger, rs i and ma
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
hello,this simple ea open trade when the last bar is closing above or under bollinger bands, with rsi value overbought or oversold and using a d1 moving average as trend filter.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - another powerful expert for MetaTrader 5 traders.
Also recommended: simple moving average (ma) expert advisor - similar expert with strong performance on MetaTrader 5.
hello,this simple ea open trade when the last bar is closing above or under bollinger bands, with rsi value overbought or oversold and using a d1 moving average as trend filter.
automatic take profit on medium bollinger band on opening bar, stop lose to be setted.
it is working well on eurusd h1 with initial parameters.
please share your set and pairs if you find any other profitable ones.
profit factor >3 from 01/01/2019 to today.
You may also like: simple expert advisor: combining sma and adx for effective trading - excellent alternative for expert users on MetaTrader 5.
Source Code
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#property copyright "RobotFX"
#include <Trade\PositionInfo.mqh>
#include <Trade\Trade.mqh>
#include <Trade\SymbolInfo.mqh>
#include <Trade\AccountInfo.mqh>
#include <Trade\DealInfo.mqh>
#include <Trade\OrderInfo.mqh>
CPositionInfo m_position; // trade position object
CTrade m_trade; // trading object.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.