EA31337 Libre is an open-source, multi-strategy trading robot for MetaTrader 4 and MetaTrader 5. It functions as a simplified implementation of the EA31337 framework, providing a collection of over 35 built-in strategies based on technical indicators. The expert advisor performs independent market analysis across vario
Trading robot · MT5
BB and RSI Pullback Strategy
This MetaTrader 5 expert advisor implements a mean-reversion day-trading strategy using Bollinger Bands and the Relative Strength Index.
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Last update4 months ago29 Apr 2026
LicenceNone stated
Overview
BB and RSI Pullback Strategy identifies overextended price movements where a candle closes significantly outside the bands with confirming RSI overbought or oversold levels. The robot enters trades on a price pullback and manages them through two distinct take-profit targets. Risk management features include percentage-based lot sizing calculated against a custom deposit value, a maximum concurrent position limit, and a trailing stop mechanism that moves to breakeven before advancing to the first target level.
- Bollinger Bands breakout pullback logic
- RSI extreme condition confirmation
- Two-stage take-profit management
- Multi-stage trailing stop to breakeven
- Percentage-based risk lot sizing
Details
Author
denytat on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion
Markets
Forex
Timeframes
M15-H1
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from BB_RSI_strategy.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
BB_period | int | 20 | Bollinger Bands period |
BB_deviation | double | 2.0 | Bollinger Bands deviation |
RSI_period | int | 14 | RSI period |
body_threshold | double | 0.5 | Min fraction of candle body beyond BB band |
risk_percent | double | 1.0 | Risk percent |
deposit_for_risk | double | 10000 | Deposit for risk calculation |
max_positions | int | 2 | Max number of opened positions at the same time |
trail_trigger_pct | int | 30 | % of TP1 distance to move SL to breakeven |
RSI_ob | int | 60 | RSI overbought threshould |
RSI_os | int | 40 | RSI oversold threshould |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone denytat/BB-and-RSI-trading-bot-MT5 from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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