This EA uses the standard RSI indicator to place trades. The
system will look at two factors before placing the trade or not placing a
trade. For example: A1 and A2 below have to be meet before a trade is placed.
The systems
has 4 scenarios to place trades:
A1 = Potential
buy if RSI is coming from 69 and has gone up to 72
B1= Potential
sell if RSI is coming from 71 and has gone down to 68
C1=
Potential sell if RSI is coming from 31 and has gone down to 28
D1= Potential
buy if RSI is coming from 29 and has gone up to 32
The trades are only placed after the
following conditions are meet:
A2= the current market rate has to be
higher than the previous market rate when RSI reached 72 from 69
B2= the current market rate has to be
lower than the previous market rate when RSI reached 68 from 71
C2= the current market rate has to be
lower than the previous market rate when RSI reached 28 from 31
D2= the current market rate has to be
higher than the previous market rate when RSI reached 32 from 29
If the
conditions above are not met then no trade is placed. It will now use the new current
rate as the new level for the next potential trade that meets both criteria.
Examples:
This is an A1 and A2 example.
·
A1- If the last closed candle that met our
criteria for the eur/usd was 1.16000 when the RSI went from 69 to 72 and the
current candle is at 1.16500 and the RSI has just hit 72+ from 69 then it will
place a buy trade and now the 1.16500 rate becomes the new rate for next trade
that meets the criteria.
·
A2- If the current candle is only at 1.15500
when the RSI is 72+ from 69, it is lower than the previous 1.16000 candle. No
trade is places and now the 1.15500 rate becomes the new rate to be higher than
for the next A1 trade.
This example
goes for all the trade scenarios A1-D1.
Inputs:
* All the
standard "RSI" Inputs
* A1 RSI Trigger:
"default" 72
* B1 RSI Trigger:
"default" 68
* C1 RSI Trigger:
"default" 28
* D1 RSI Trigger:
"default" 32
* Lot Size
as $ amount: True/False
* Lot Size
as $ amount: Value
* Lot Size
as % of equity: True/False
* Lot Size
as % of equity: Value
* Take
Profit in Pips: True/False
* Take
Profit in Pips: Value
* Take
Profit in $: True/False
* Take
Profit in $: Value
* Trailing Stop:
True/False
* Trailing
Stop: Value
* Stop loss
in pips: True/False
* Stop loss
in pips: Value
* Stop loss
in $: True/False
* Stop loss
in $: Value
* Magic
Number: Value
Would like
to see makers showing the entry and exit points of the trades, as well as an
marker(arrows or whatever) showing when the RSI criteria was met. It can go
above the by candles and below the sell candles. If it didn't meet the criteria put an (x) or (*)
symbol above or below the closed candle.
Would also
like a information box upper right hand side of the chart that gives the Rates
of the Previous closed candles that met the RSI levels for A2-D2.
Example:
A2: 1.51000
B2: 1.50000
C2: 1.47000
D2: 1.48000
Let me know
if you have any questions or suggestions.
DaJuan
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