Signals Preview:

Features:

  • Detects mean-reversion signals when price closes back inside the Bollinger Band after a Stochastic RSI extreme.

  • Bear signal: prior bar closed above the upper band with %K and %D both above the upper limit, current bar closes back inside.

  • Bull signal: prior bar closed below the lower band with %K and %D both below the lower limit, current bar closes back inside.

  • Bear/bull arrows plotted on the signal bar, offset from price by a fraction of ATR(14) so they don't overlap the candle.

  • Built-in Stochastic RSI (RSI passed through its own rolling stochastic + double SMA smoothing) - no external indicator required, everything is calculated inside this single file.

  • Bollinger Bands plotted as a shaded fill between the upper and lower bands, plus the basis (mid) line.

  • On-chart status panel showing live readings, current zone, armed setups, and the last signal fired.

Parameters:

Parameter Name

Description

InpLength

Bollinger Bands period.

InpMult

Bollinger Bands standard deviation multiplier.

InpLengthRSI

RSI period used as the Stochastic RSI's source.

InpLengthStoch

Lookback period for the rolling highest/lowest RSI (the "stochastic" part).

InpSmoothK

Smoothing period for %K.

InpSmoothD

Smoothing period for %D (signal line).

InpUpperLimit

Overbought threshold for %K/%D (default 90).

InpLowerLimit

Oversold threshold for %K/%D (default 10).

How to Use:

A simple step-by-step guide:

  1. Attach the indicator to any chart/timeframe.
  2. Adjust BB Period/Deviations and Stochastic RSI settings if you want a different sensitivity, or leave the defaults.
  3. Watch for a triangle-down arrow above a candle - price closed above the upper band while StochRSI was overbought, then closed back inside: a bearish reversal signal.
  4. Watch for a triangle-up arrow below a candle - price closed below the lower band while StochRSI was oversold, then closed back inside: a bullish reversal signal.
  5. Use the on-chart panel to check the current zone, whether a setup is "armed" and waiting for the cross-back, and details of the last signal fired.

What's in the Panel?

  • Live Close, BB Upper/Basis/Lower, and ATR(14) readings for the current bar.
  • Current Stochastic RSI %K/%D values and the resulting Zone (Overbought / Oversold / Neutral).
  • Setup status - flags when the last closed bar met the extreme precondition and is "armed", waiting for the current bar to cross back inside the band.
  • Last Signal - type, price, and how many bars ago it fired.

Notes and Limitations:

  • Signal only: This indicator does not place trades. It's for visual/analytical use - no order management, no SL/TP.
  • Single file: Everything (Bollinger Bands, Stochastic RSI, signal logic, and panel) is self-contained in one .mq5 file - no external indicators or includes required.
  • Repaint-free: Signals are evaluated on closed bars only; the signal bar itself does not repaint once formed.
  • Standard RSI: The embedded RSI uses Wilder's smoothing (the standard method), calculated via iRSI(); only the stochastic-of-RSI stage is custom.

Screenshots:

Conclusion:

Whether you trade mean-reversion setups or just want a quick visual read on when price has stretched too far and is snapping back, this indicator combines Bollinger Bands and Stochastic RSI into one clean, self-contained signal with a live status panel.