ADDING Fair value Condition to an EA

Specification

ADD Fair value gap condition to my RSI EA


Trading Strategy Overview 

Buy Signal: 

  1. RSI Condition: 

  • The RSI (5-period) on the 15-minute (M15) chart is below 20, indicating that the asset is oversold. 

  1. Fair Value Gap Condition: 

  • The current price is within a Fair Value Gap on the M15, H1, H4, or D1 chart, indicating a potential imbalance that could be corrected IN ONE OF THE ABOVE TIMEFRAME 

Sell Signal: 

  1. RSI Condition: 

  • The RSI (5-period) on the 15-minute (M15) chart is above 80, indicating that the asset is overbought. 

  1. Fair Value Gap Condition: 

  • The current price is within a Fair Value Gap on the M15, H1, H4, or D1 chart, indicating a potential imbalance that could be corrected IN ONE OF THE ABOVE TIMEFRAME 

. 

Detailed Strategy 

  1. Identify Fair Value Gaps (FVGs): 

  • Definition: A Fair Value Gap occurs when there is a significant difference between the buy and sell orders, leading to an imbalance. It is typically identified by a sudden price movement with minimal trading in between. 

  • Timeframes to Monitor: M15 (15-minute), H1 (1-hour), H4 (4-hour), and D1 (1-day). 

  1. RSI Calculation: 

  • Use a 5-period RSI on the 15-minute chart to identify oversold (below 20) and overbought (above 80) conditions. 

  1. Entry Criteria: 

  • Buy Entry: 

  • Ensure the RSI (5) on the M15 chart is below 20. 

  • Confirm the current price is within a Fair Value Gap on any of the following timeframes: M15, H1, H4, or D1. 

  • Enter a buy position when both conditions are met. 

  • Sell Entry: 

  • Ensure the RSI (5) on the M15 chart is above 80. 

  • Confirm the current price is within a Fair Value Gap on any of the following timeframes: M15, H1, H4, or D1. 

  • Enter a sell position when both conditions are met. 


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