BBands for RSI (MT4)

BBands for RSI overlays Bollinger Bands directly on the RSI oscillator. That lets you see volatility and extremes on the momentum scale instead of price — great for catching mean‑reversion bounces and volatility expansions in MetaTrader 4.

Why BBands on RSI?

• Context: RSI shows momentum; Bollinger Bands show volatility. Together, you get where momentum is and how stretched it is.
• Clean signals on ranges: fades at outer bands; continuations when RSI walks the band.
• Works with MTF overlays and alerts (if your build provides them).

Trade ideas

1. Fade extremes: Look for RSI touches/peeks outside the upper/lower band → enter back to the mean (midline).
2. Band walk: In strong trends, RSI hugging the upper (or lower) band favors continuation entries on pullbacks.
3. Volatility pop: Band expansion with RSI breaking the midline hints at a new impulse.
4. (Optional) Confluence with price S/R, session highs/lows, or MA pullbacks.

Inputs that matter

• RSI period — 7/9/14 are common; smaller = faster.
• Band period & deviation — controls the BB width on RSI.
• RSI price & method — Close/Typical; SMA/EMA for smoothing.
• Alerts — pop‑up / sound / push on band touches/crosses.
• Colors — differentiate upper/lower and midline clearly.

Suggested usage

• M5–M15: Mean‑reversion on liquid FX pairs and indices.
• M30–H4: Swing continuations with “band walk” behavior.
• Always combine with risk management (ATR stops, session filters).

Installation (MT4)

1. Open MetaTrader 4 → File → Open Data Folder.
2. Copy bbands-for-rsi.ex4 to MQL4/Indicators.
3. Restart MT4 (or refresh Navigator) and attach BBands for RSI to a chart.
4. Tweak inputs → OK.

FAQ

Does it repaint? No. It calculates on closed candles like standard MT4 indicators.
Can I use it in EAs? Yes, via iCustom.
Markets? FX majors/crosses, indices, metals—anything your broker offers on MT4.

Disclaimer: Test on demo first. No indicator guarantees profits; risk management is essential.