This code is a sample implementation of the Advanced Bollinger Bands RSI EA for MetaTrader 4 (MT4), developed by Forex Robot Easy Team. The official trading robot can be found on the MQL5 website. This code serves as an example to demonstrate how the product works and is not an exact copy of the original.
For detailed reviews and trading results of the official product, please visit the following link: Advanced Bollinger Bands RSI EA MT4 - Review
The Advanced Bollinger Bands RSI EA is designed to enhance your forex trading strategy by using Bollinger Bands and RSI indicators. The EA generates buy or sell signals based on overbought and oversold conditions indicated by these indicators.
- StopLossFixedPips: Specifies the fixed stop loss in pips.
- TakeProfitMiddleBB: Sets the take profit based on the middle Bollinger Bands line.
- RiskToRewardRatio: Defines the risk to reward ratio for take profit.
- AdditionalTP1: Provides an additional take profit option 1.
- AdditionalTP2: Provides an additional take profit option 2.
The EA checks if both indicators indicate overbought or oversold conditions. If the conditions are met, it generates a signal to either buy or sell based on the CanBuy() and CanSell() functions.
The code includes placeholders for custom functions related to Bollinger Bands and RSI. These functions need to be implemented by the user to complete the BB & RSI strategy.
Please note that this code is not an exact representation of the official product developed by Forex Robot Easy Team. It is only an approximation of the necessary parameters based on the original product description. The actual trading robot may have additional features and improvements.
For accurate and up-to-date information about the official product, please visit the MQL5 website or refer to the provided link for reviews and trading results.