Idea by: Yuri.
MQL5 code by: Vladimir Karputov.
Operation Algorithm
FullDump operates by searching for signals within the interval from bar "0" to Depth of search.
Buy Signal Criteria:
- First off, ensure the RSI is below 30;
- The price hits the lowest Bollinger Band;
- Then, wait for the candlestick to move above the middle Bollinger Band;
- Set your Stop Loss below the last local Low and your Take Profit above the upper Bollinger Band;
- Once the upper line is hit, remember to move your stop to breakeven.
Sell Signal Criteria:
- Check that the RSI is above 70;
- The price should reach the upper Bollinger Band;
- Wait for the candlestick to drop below the middle Bollinger Band;
- Place your Stop Loss above the last local High and your Take Profit below the lower Bollinger Band;
- As soon as the lower line is hit, adjust your stop to breakeven.
Inputs
- Lots - This refers to your position volume.
- Bands - Bands: This is the averaging period.
- RSI - RSI: This is the averaging period for the RSI.
- Indent from High and Low - This refers to the space from High and Low when placing Stop Loss and Take Profit.
- Depth of search - This is the number of bars among which the signal is searched.
- Magic number - A unique identifier for your EA.
For optimization (note: non-optimized parameters are included in the code; you'll need to find the necessary values on your own), we recommend testing it on EURUSD, H1:
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