Support and Resistance Expert Advisor: Free MT5 Expert Advisor

Overview

The software identifies price pivot points and monitors price action relative to these boundaries to determine entry signals. It references technical indicators, specifically the Relative Strength Index and Bollinger Bands, to filter market conditions. The logic identifies chart objects designated as resistance or support to trigger long or short positions. Risk controls like stop loss and take profit are suggested by the logic, though the documentation is minimal and the source code provided is an early implementation.

Pivot point price action analysis

Chart object-based trade triggers

RSI and Bollinger Band filtering

Support and resistance level detection

Details

Author

Vuizz on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Mean reversion, Breakout

Markets

Any symbol

Timeframes

Any timeframe

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

RSI-BB-Expert/S&R.mq5

Source

github.com/Vuizz/MT5-ExpertAdvisorS-R

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone Vuizz/MT5-ExpertAdvisorS-R 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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