How to add one green/red bar confirmation into an EA?

Trading Systems Expert Advisors and Automated Trading
1

Hello Guys,

I have created a simple RSI based EA in MT5. I would like to add one bar confirmation in it.

For example, lets say that if EA would take a “BUY” trade when RSI is 60…then instead of taking a trade right away…EA should wait for one more candle and if it is also green then only EA should take a “BUY” trade. (And vice-versa for Short trades)

Is it possible??

2

Hi,

So you need to check RSI for Candle[2] and then check Candle[1] if Close[1] > Open[1]

  1. You can create a boolean global variable which is false on init
  2. On tick, Check if you have new bar
  3. If there is a new bar
  4. Check if your variable is true - if it is > check if previous bar was green/read and then open a trade, if it is not set the variable to false
  5. check if RSI >= 60 If it is, change your variable to true

mirror for short :slight_smile:

So it would work like this:

  • first candle we have RSI > 60 - variable is false, so it goes to check RSI, RSI matches with cirterion, so variable switches to true
  • next candle variable is true, so it checks previous candle if it is green/red - if it is, it opens a trade and switches to false (so you wont have multiple trades on single signal)

Hope this makes sense. Good luck!

2 Likes
3

@wilczasty has explained the process quite nicely. If you follow this, you can add the green and red bad confirmation.