EURUSD Bollinger Band Mean Reversion with EMA Trend Filtering

Summary

This script describes a short-term EURUSD strategy intended for 15- or 30-minute charts. It combines 20-period Bollinger Bands with a 200-period EMA and RSI: it buys when price touches the lower band while closing above the EMA with RSI below 45, and sells when price touches the upper band while closing below the EMA with RSI above 55. Entries are restricted to a configured trading session, a rolling backtest window, and at most one trade per day.

Positions use pip-based take-profit and stop-loss distances, move the stop to breakeven after a specified favorable move, and close near the end of the day. The document provides implementation logic and default settings, but no performance results or validation. Its pip conversion depends on the instrument's minimum tick, and the brief source excerpt does not establish whether the chosen settings remain suitable across brokers, spreads, or market regimes.

Key ideas

• The strategy buys lower-band touches only when the close is above the 200-period EMA and RSI is weak.
• It sells upper-band touches only when the close is below the EMA and RSI is strong.
• A session filter and daily trade limit constrain when and how often it enters.
• Stops can move to breakeven after a favorable price move, while take-profit and end-of-day exits manage positions.
• The document supplies no backtest evidence to establish profitability.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.