Crimson Band EA Source Code

This page gives you the Crimson Band EA free source code, the .mq5 file itself and not a compiled robot you have to trust. It is a Bollinger Bands and RSI robot, and the file shows every rule it follows.

• Platform: MetaTrader 5, a single .mq5 file
• Strategy: Bollinger Bands and RSI
• Price: free, a free account is all you need
• Licence: study it, edit it and, if you want, rebrand it

In short, you get exactly the file we publish, and therefore nothing stops you from rebuilding any part of it.

How the Crimson Band strategy works

Bollinger Bands draw a moving average with two lines above and below it, placed at a distance measured in standard deviations. The bands therefore widen when the market gets nervous and squeeze when it calms down, which tells the robot both where price is extended and how much it is moving.

The RSI compares the size of the recent rises against the recent falls and turns that into a number between zero and one hundred. Near the top of that range the market has been bought hard, near the bottom it has been sold hard, and the robot reads those extremes as its trigger.

Each filter removes a group of bad entries and, at the same time, a few good ones. Reading the code is the only honest way to judge that balance for your own market.

What is inside the Crimson Band EA free source code file

• The Bollinger block, the average period and the deviation that sets the width.
• The RSI block, with its period and the levels that count as overbought and oversold.
• The risk block, with the lot sizing, the stop loss and the take profit.
• Finally, every input with its default value, so you can compare it against your own broker.

How to compile and run it

1. First, download the .mq5 file from the button at the end of this page.
2. Then open MetaEditor 5 from MetaTrader 5, with F4 or the editor button.
3. After that, save the file inside MQL5 and then Experts, and press Compile.
4. Finally, refresh the Navigator and drag Crimson Band onto a chart.
5. Run it on a demo account first, and read every input before you go live.

If the compiler complains, our guide on compiling MQL source covers the usual causes. In most cases it is simply a missing include or the wrong folder.

What you can change

The deviation is the knob to study first. A larger value keeps the robot away from the ordinary swings, a smaller one turns every minor push into a signal.

Before any of that, however, look at the risk block. After all, a good entry with the wrong lot size still empties an account, and therefore the sizing deserves the first pass rather than the last.

More robots like this one are in the free EA source code library, and the paid catalogue with documentation and support lives in the MT5 source code section. The idea behind Bollinger Bands is explained well on this reference page.

Questions about the Crimson Band EA free source code

Which platform is it for? MetaTrader 5.

Is the file complete? Yes, we remove nothing and we encrypt nothing.

Where should I start? On a demo account with the defaults, so you can see its natural rhythm before you change anything.

Does the broker matter? It does, especially the spread and the execution. Compare two before you judge the strategy.

Download the Crimson Band EA free source code

The file below is the complete .mq5. First of all, create a free account or log in. Then download it and, finally, open it in MetaEditor 5.