RSI,BOLLINGER & 75 EMA on MQL4 language:
GOING LONG: When a candle closes above the 75 ema as well
as the bollinger middle line, and the RSI line breaks above the 50 line or a resistance pattern, enter LONG.
Stop loss - there will be 3 notable levels below your entry - the low of the signal candle, the 75 ema, and the recent swing low of the 5 ema. Of these three I will use whichever is in the middle of the others to place my stop 2 pips below.
GOING SHORT: When a candle closes below the 75 ema as well as the bollinger middle line, and the RSI line breaks below the 50 line or a support pattern, enter SHORT.
Stop loss - same as for long - I will place my stop 2 pips + the spread above whichever is the middle of the 75ema, high of the signal candle, and swing high of the 5ema.
I will either use a 1:1 R:R, or a 1:2, so either close my trade at 100% the distance of my stop or 200%, depending on how wide the stop is to begin with - for example if my stop ends up only being 45 pips on GBPJPY and the trade was opened near the beginning of London, I will use a target of 90 pips. But if my stop is 78 pips on EURUSD, I will use a take profit of 78 pips as well.