Reversal Strategy - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The expert advisor uses three indicators to identify reversals in a symbol's price. It uses a simple moving average along with standard deviation and RSI.
A buy signal is issued when the opening price is below minus 2 standard deviations from the moving average and the RSI is below the oversold value, and the closing price is above minus 2 standard deviations from the moving average and the RSI crosses above the oversold signal. Take profit is equal to the selling price plus 2 times the current standard deviation, and stop loss is equal to the selling price minus the current standard deviation. A sell signal is issued when the opening price is above the moving average plus 2 times the standard deviation and the RSI is above the overbought value, and the closing price is below the moving average plus 2 times the standard deviation and the RSI crosses the overbought value from above. Take profit is equal to the purchase price minus 2 times the current standard deviation, and stop loss is equal to the purchase price plus the current standard deviation.
When the closing price is higher than the moving average plus 2 times the standard deviation, the long position is closed; when the price is lower than the moving average minus 2 times the standard deviation, the selling position is closed. It is similar to boiler band technology.
This strategy is best used during non-volatile periods, when there is no obvious trend and the market is more predictable. Its goal is to make a lot of small profits. The only symbol that should be traded using this strategy is EURUSD, followed by GBPUSD. I only trade EURUSD on smaller timeframes such as M5.
Attachment download
📎 reverse_strategy.mq5 (23.4 KB)
Source: MQL5 #43252
Reversal Strategy - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resource Usage and Screening Suggestions
This content can be used as a data entry for foreign exchange EA, indicators, trading systems or quantitative strategies. When reading, it is recommended to make a judgment based on the platform version, trading type, time period, risk control method and historical discussion background. Do not use it directly based on the title or a single point of view.
If the content involves MT4/MT5, ForexFactory, MQL source code, TradingView indicators or strategy discussions, you can give priority to the parameter logic, backtest environment, market stage, execution cost and failure conditions, and then decide whether to continue downloading, reviewing or secondary development.
Risk warning
For any EA, indicator or automatic trading strategy, it is recommended to first conduct historical backtesting, simulation account verification and small capital testing. Grid, Martin, high frequency, recovery and examination strategies especially require setting the account risk upper limit, single variety risk upper limit and manual deactivation conditions.
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