The trading system rules are:
· Buy - Price goes below the Bollinger band bottom third standard deviation and RSI is less than 30 in any one of the last six bars. (Signal Bar). Wait for price to close above Bollinger band bottom second standard deviation (Entry Bar). Buy on next bar open.
· Sell – Price goes above Bollinger band top third standard deviation and RSI is above 70 level in any one of the last six bars. (Signal Bar). Wait for price to close below Bollinger band top second standard deviation. (Entry Bar). Sell on next bar open
· Exit –
1. Apply a stop loss at the highest high or lowest low from signal bar to entry bar.
2. Exit buy on next bar open if price goes above Bollinger band top second standard deviation. Opposite for sell position.
3. Exit half of the position on next bar open if price moves in favor equivalent to the risk (entry price – stop loss price).
4. Move stop loss to breakeven when partial profit booking is done
The EA can be customized through the parameters. Parameters are located at the top of the script. Open the EA in VTL editor and parameter values can be modified. The Bollinger band period, RSI period, position size, chart period to trade, symbol to trade etc. are defined in the parameters. Available parameters and options are well documented in the script.
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