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Thread: Bband rsi ea

  1. #1
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    Default Bband rsi ea

    hello Funyoo
    im a big fan of your work! love your programming and your EAs
    anyways i recently started trading and developed a set of trading rules that are pretty profitable if followed to the T.. basically perfect for a robot.
    i was wondering if it is it possible for you to make an ea using bband and rsi indicaters?

    this trading strat basically shorts the overbought and buys the oversold. it tries to find the best point to enter so you have less risk and more profit.

    below are the long and short rules.

    indicater setup
    bolinger bands sdeviation 1,2,2.8,3,4
    rsi 14 30,70
    time frame: 5m

    short/buy if slope of Bband sd 4 is +- 0.20 and price of market is < or > then sd 4 bband

    shorting rules
    if rsi>70
    then check bband > 3
    if true for the NEXT 4 ticks you are allowed to trade.
    place pending short limit order or short order when next tick goes between 2.8 to 3 sdeviation. price must be between 2.8 to 3
    place another order if price hits 2.8 to 3 sdeviation for the next tick.
    TP:4
    SL:12

    buying rules
    if rsi<30
    then check bband < 3
    if true for the NEXT 4 ticks you are allowed to trade
    place pending buy limit order or buy order when next tick price goes between 2.8 to 3 sdeviation. price must be between 2.8 to 3
    place another order if price hits 2.8 to 3 sdeviation for the next tick.
    TP:4
    SL:12

    i have found that as long as you resist entering the market too soon and wait for atlease 1 tick and you place the order inbetween 2.8 to 3 standard deviation. you will more then likely hit the ALMOST PERFECT entry.

    for example if you enter the market when rsi > 70 and bband sd > 2.8 on the very first tick. you will almost always be too early. but if you wait for the next tick and then go in. you will be almost at the climax of the overbought.

    here are some pictures when i followed the rules manually to the T
    this is a EG m5 chart and although it does not go very far because i am doing it manually. i went back 6 months and there has been 1 trade that required a SL of 46 pips in order to regain into profit. the rest are all profitable trades with 4:1 risk/profit ratio for stop loss.

    as you can see. i placed some orders as price went above or below sd 4. these trades almost always bounce right back and u will gain profit.

    the trades don't require the rsi to be > 70 or < 30 the whole time but RSI has to cross the boundaries and be between 1-4 ticks before and the order price to be inbetween 2.8 to 3 deviation

    i just wanted to share this to my fellow forum mates so they can improve on it and make it even better. and also to see if the logic behind it is sound.

    happy trading!
    Last edited by funyoo; 07-19-2012 at 15:10.

  2. #2

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    This seems very interesting, so I hope that funyoo can find the time to give it some attention.

  3. #3

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    How do u add Bbands 2.8, it only takes round numbers.

  4. #4
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    insert > indicators > custom > bands > input 2.8

  5. #5
    Administrator funyoo's Avatar
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    Hi willhuang,

    Here is an EA.
    Attached Files Attached Files

  6. #6
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    ty backtesting now

  7. #7
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    haha i managed to some how make this bot have some positive results.. however its no where near what i would like.there is a few things i noticed.

    the trades are not entering at the right time.

    im not sure if the bands you are using is the same one i am. i use the one in custom > bands

    as you can see in the picture. its bands with 2.8 deviation but the trades are entering at price when not suppose to.

    thanks in advance for all your help!

    btw what does bands 1,2,3,4,5 mean? how are they used in the trading strat? also is it possible to add a time filter?

  8. #8
    Administrator funyoo's Avatar
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    Quote Originally Posted by willhuang View Post
    haha i managed to some how make this bot have some positive results.. however its no where near what i would like.there is a few things i noticed.

    the trades are not entering at the right time.

    im not sure if the bands you are using is the same one i am. i use the one in custom > bands

    as you can see in the picture. its bands with 2.8 deviation but the trades are entering at price when not suppose to.

    thanks in advance for all your help!

    btw what does bands 1,2,3,4,5 mean? how are they used in the trading strat? also is it possible to add a time filter?
    Hi willhuang,

    I have corrected an issue. Timefilter added.

    How do you determine the bands sd 4 slope ?

    Bbdev are the different bollinger bands deviations.
    Attached Files Attached Files

  9. #9
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    ohh ic. no wonder

    i was thinking maybe avg slope of the bands for the past 4-5 ticks.

  10. #10
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    Update without errors
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backtesting, bands, bollinger, indicators, limit, managed, pips, profitable, programming, robot, rsi, stop, time, timefilter, trading

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