If price pierced upper or lower Bollinger Bands ®, RSI is overbought/oversold and moves back to 50 you’ll get a signal.
Of course some false too, but as always MM and tight sl is the key. Recommended timeframe is M5. Added some objects that you are able to prepare for a signal.
RSI object gets orange when ob/os and changes to green or red when returns towards 50. BB object gets red or green when Bands were pierced.
If there is a higher high/lower low after a sell/buy signal and there is no new signal, RSI should show a divergence and you know what that means 😉
MT4 Indicators – Download Instructions
BBR is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
BBR provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install BBR.mq4?
- Download BBR.mq4
- Copy BBR.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on BBR.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator BBR.mq4 is available on your Chart
How to remove BBR.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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MT4 Indicators Download here: BBR