Search for the most Simple RSI EA

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Hello!

I am new to the world of EA´s. I have searched a lot hours for an simple ea based on RSI. But i found nothing.

Tested hundreds of EA´s. But everything i have seen are EA´s that dont work.

I am searching for an EA that place an Sell or Buy order if the RSI cross the 50´s line. Where i can change the period.

And only an easy take profit and stopp loss.

Open: RSI cross 50

Close: 50 Pips

Stop Loss: 20 Pips

Period: 14

This ea should only place orders, because sometimes i miss the right entry when i found some other signals.

I hope someone can help me.

Many thanks!

TED

 
TED TRADER:
Hello!

I am new to the world of EA´s. I have searched a lot hours for an simple ea based on RSI. But i found nothing.

Tested hundreds of EA´s. But everything i have seen are EA´s that dont work.

I am searching for an EA that place an Sell or Buy order if the RSI cross the 50´s line. Where i can change the period.

And only an easy take profit and stopp loss.

Open: RSI cross 50

Close: 50 Pips

Stop Loss: 20 Pips

Period: 14

This ea should only place orders, because sometimes i miss the right entry when i found some other signals.

I hope someone can help me.

Many thanks!

TED

Made this one all your rsi settings are adjustable has take profit, stop loss, and trailing stops, also has a close or no trading on Friday. Should work on any broker including Ecn and extra digit types.Hopefully you will be able to use it.

Files:
rsi_trader.mq4  12 kb
 

Thank you very much!

Maybe i am too stupid. It dont runs. "could not open file" or something like that.

Sorry when i am not so talented in those things.

 

Ok... it works! ;-)

Thank you very much again!

 

But there is something i dont understand.

I put in Stop loss 20 and in the results there are losses of 2000. What did i wrong?

 
TED TRADER:
But there is something i dont understand. I put in Stop loss 20 and in the results there are losses of 2000. What did i wrong?

Ted i ran it through the back tester and was getting $20 loss for 20 pip stop loss, that was using default settings, so not sure what is wrong in your settings is this extern double DecreaseFactor = 3, what this is is a control of your money management if you lose 3 trades in a row then the 4th trade will be at your minimum broker lot size(you can change this to whatever you prefer), otherwise don't know what could be causing the problem you are experiencing.

 

I am not sure what i did wrong.

When i enter a stop loss (The EA multiply when you increase the lot Size) in the end, the ea makes losses around 500 to 2000.

But a better question.

Did you have an ea with the same simplicity with other trend indicators or oscillators, with a quality of 50 %?

Or any EA, that have simple settings?

 
TED TRADER:
I am not sure what i did wrong.

When i enter a stop loss (The EA multiply when you increase the lot Size) in the end, the ea makes losses around 500 to 2000.

But a better question.

Did you have an ea with the same simplicity with other trend indicators or oscillators, with a quality of 50 %?

Or any EA, that have simple settings?

The stop loss is in pips not dollars so a real large lot size like 10 lots or more would cause a loss of 500 to 2000 even with a stop loss of 20.

As far as other trend indicators or such, can add pretty much anything to this Ea. as far as 50% best i can say is get you a strategy and trade it for awhile then show us here your results, and will try to code an Ea to match, if its interesting.

 

Maybe no EA will do what i want.

I must say... i traded for one and a half year. Learned a lot about nearly all indicators, all Trading Methods and systems. Combined it with Moving Average and some other things, and it works well. Nothing without concentrating and not simple at all, but when i was away i will enable an EA to get the right Entry. I know that i want to open a position in a prefered direction, but it can take a lot of hours to go in the market if the last thing for an opening will happen. i only want to have the right entry to a position and then let it go for many hours.

I am so lazy.

A buy Stop or something would be ok... but the best entry moves.

I dont talk a lot with other traders about their quality of Trading ideas, but what do you think is the normal balance about winning and losing trades? Less than 50 Percent or more than 50 percent?

 
TED TRADER:
Maybe no EA will do what i want.

I must say... i traded for one and a half year. Learned a lot about nearly all indicators, all Trading Methods and systems. Combined it with Moving Average and some other things, and it works well. Nothing without concentrating and not simple at all, but when i was away i will enable an EA to get the right Entry. I know that i want to open a position in a prefered direction, but it can take a lot of hours to go in the market if the last thing for an opening will happen. i only want to have the right entry to a position and then let it go for many hours.

I am so lazy.

A buy Stop or something would be ok... but the best entry moves.

I dont talk a lot with other traders about their quality of Trading ideas, but what do you think is the normal balance about winning and losing trades? Less than 50 Percent or more than 50 percent?

I have read and seen with proper money management and with for example a 2 to 1 take profit to stop loss ratio(ie 100 pip take profir and 50 pip stop loss)that you can do all right with a system that wins 42% of the time.

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