RSI Dual Cloud EA - expert for MetaTrader 5

Trading strategy

The EA uses a custom indicator 'RSI Dual Cloud'. The EA uses four types of signals:  

• Entrance to the zone
• Being in the zone
• Leaving the zone
• Lines crossing

Now more about the parameter groups

"Trading settings"

The Expert Advisor can be optimized by the 'Working timeframe' parameter - the timeframe used for the 'bar #1 (on a new bar)' mode. 'Stop Loss (SL)' and 'Take Profit (TP)' are in Points, to disable any of these options - set it to '0'. The modes for trailing and searching for signals ('Trailing on ...' and 'Search signals on ...') can be of two types: 'bar #0 (at every tick)' - work on every tick and 'bar #1 (on a new bar)' - work only when a new bar is born. 'Maximum number of positions' limits the maximum number of simultaneously open positions, and 'Minimum step of positions' sets (in Points) the minimum distance between positions, it doesn't matter what type of position and relative position (higher or lower).

"Signals"

Four types of signals from a custom indicator. Any signal can be enabled/disabled.

"Trailing"

In the 'Trailing' section, all three parameters are in Points. Trailing works ONLY for a profitable position! 'Trailing activate if profit is >=' - this is an analog of breakeven, is set in Points. To disable trailing set the 'Trailing Stop' parameter to '0'.

"Position size management (lot calculation)"

The lot can be either permanent ('Money management' set to 'Constant lot' and set the lot size to 'The value for "Money management"') and dynamic - in percent risk per trade ('Money management' set to 'Risk in percent for a deal' and set the risk percentage in 'The value for "Money management"'). You can also set a constant lot equal to the minimum lot - 'Money management' set to 'Lots Min'.

"Trade mode"

Restriction in which direction to trade. Can take the values 'Allowed only BUY positions', 'Allowed only SELL positions' and 'Allowed BUY and SELL positions'

"Time control"

This section sets the time range for searching for trading signals. The time range is enabled via 'Use time control' and sets the time interval for searching for signals from 'Start Hour'::'Start Minute' to 'End Hour'::'End Minute'. The time range can be set both within the day and with the transition through the day. Does not affect trailing.

"Additional features"

Flag 'Positions: Only one' set to 'true' allows the EA to have no more than one position in the market.

WARNING: 'Positions: Only one' set to 'true' does not override 'Positions: Close opposite' set to 'true'! In other words: the opposite position(s) will be closed first

The flag 'Positions: Reverse' is responsible for signal reversal. An interesting flag 'Positions: Close opposite' - when set to 'true' before opening a position, it is guaranteed to remove opposite positions. 'Print log' prints an extended log of all operations. The 'Freeze and StopsLevels Coefficient' parameter sets the coefficient for stop and freeze levels for cases when these levels for a symbol are equal to zero. The recommended value is '3'.