RSI Multicurrency EA

About the RSI EA

The RSI EA (Expert Advisor) is an automated trading system that uses the Relative Strength Index (RSI) to make trade entries. The EA can be configured to trade up to 5 currency pairs simultaneously, with a maximum risk exposure of 5% across all trades, and 1% per individual trade (adjustable).

Entry Strategy

The RSI EA includes two main entry strategies:

1. Break-In: A trade is opened if the RSI level enters the oversold (below 30) or overbought (above 70) zone. This can be triggered either during the bar or after the bar is complete.
2. Break-Out: A trade is opened if the RSI level exits the oversold or overbought zone. This can also be triggered either during the bar or after the bar is complete.

The EA is designed to trade in one direction per currency pair with a single entry, limiting the number of active trades to five.

Money Management and Risk Control

• Take Profit and Stop Loss: These are set in points, with default values of 150 points for both.
• Exit Strategy: The EA offers three exit strategies based on RSI levels or standard TP/SL.
• Risk Control: The maximum daily risk is capped at 5%, with a total of 5 trades allowed per day.
• Trading Period: The EA will close all open trades at the end of the trading period, regardless of whether they are in profit or loss.

Instruction for Programmer

1. Currency Selection: Implement a quick selection feature for currencies with buy/sell options next to each currency pair.
2. RSI Parameters: Include adjustable RSI values, with the default set at 14.
3. Entry Logic:
   • Implement entry triggers for both break-in and break-out scenarios.
   • Ensure options for triggering on bar close or during the bar are included.
4. Money Management:
   • Allow for adjustable TP/SL points.
   • Include options for disabling the EA after reaching a set profit or loss.

5. Trading Time Control: Implement a server time-based trading window, after which all trades should be closed. Example my criteria as below.