MGH_BolingerRsi indicator

This indicator has 2 applications :

1. Showing RSI Divergence: At the peaks and when the price reaches the end of its rise or fall and starts to correct, the indicator gives a signal.
2. Scalping strategy: By activating the Dual Time Frame feature and setting an alarm at either 5 or 15 minutes, you won’t miss anything, and you can easily profit 5 to 10 pips.

The default settings are the best.

Strategies :

1. For long-term positions and gains of 50 to 100 pips using the Bollinger indicator, we should wait for the signal of the red column on the 4-hour timeframe in the indicator window. Then, we should visit the 30-minute session and enter at the first to third points based on capital management. It is better to have the indicator in dual time mode at the 4-hour session and confirm a sell signal in the daily timeframe as shown in the picture.
2. For short-term scalp trades, the signal should be available in the same range on a larger timeframe. This means that you should see the yellow warning column on the larger timeframe.
3. You can determine the end of the upward movement, but the point should be confirmed on a larger timeframe. For example, if you see a trend in the 5-minute timeframe and a yellow warning column indicating the end of the rise, then visit the red signal (warning for declining price) at a longer timeframe (15 minutes in this example), which confirms the end of the trend.