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Trade on qualified RSI - expert for MetaTrader 5

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Published by:
Vladimir Karputov
Views:
3006
Rating:
votes: 22
Published:
2017.03.22 16:35

Author of the idea — John Smithauthor of the MQL5 code — barabashkakvn

A trade strategy based on the RSI indicator. Checks if there is enough money before opening a position.

Initial check:

  • to open BUY: R‌SI on bar "1" < 45
  • to open SELL: R‌SI on bar "1" > 55

Confirmation of opening: 

  • to open BUY: R‌SI on bars from "2" to "2"+"CountBars" < 45
  • to open SELL: R‌SI on bars from "2" to "2"+"CountBars" > 55

Position modification: uses the close price of the bar "1" as the basic value.

The EA shows the following results on H1 with default parameters:

Trade on qualified RSI result

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/17849

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