This EA using Bollinger Bands, Relative Strength Index and Moving Average.
Parameters:
Timeframe - default PERIOD_M1.
Symbols : EURUSD
What Is a Bollinger Bands?
Bollinger Bands are a technical analysis tool developed by John Bollinger for generating oversold or overbought signals.
There are three lines that compose Bollinger Bands: A simple moving average (middle band) and an upper and lower band.
The upper and lower bands are typically 2 standard deviations +/- from a 20-day simple moving average (which is the center line), but they can be modified.
When the price continually touches the upper Bollinger Band, it can indicate an overbought signal while continually touching the lower band indicates an oversold signal.
What Is the Relative Strength Index (RSI)?
The relative strength index (RSI) is a popular momentum oscillator introduced in 1978.
The RSI provides technical traders with signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset’s price.
An asset is usually considered overbought when the RSI is above 70 and oversold when it is below 30.
The RSI line crossing below the overbought line or above oversold line is often seen by traders as a signal to buy or sell.
The RSI works best in trading ranges rather than trending markets.
What Is a Moving Average?
A moving average (MA) is a stock indicator commonly used in technical analysis.
The moving average helps to level the price data over a specified period by creating a constantly updated average price.
A simple moving average (SMA) is a calculation that takes the arithmetic mean of a given set of prices over a specific number of days in the past.
An exponential moving average (EMA) is a weighted average that gives greater importance to the price of a stock in more recent days, making it an indicator that is more responsive to new information.
N.B:
1. Invest only those funds that you are ready to lose. There is no guarantee for future results by using this EA. You take all the risks.
2. If you cannot handle the pressure of drawdown, then this EA is not for you.
