Relative Strength Index
The EA should be able to run in all timeframes & all currencies.
Buy / Sell order should be based at start of candlestick price.
1. Entry Rules:
1.1 Buy: equal/below [RSI Low (default input: 40.0)]
1.2 Sell: equal/above [RSI High (default input: 80.0)]
**There is a reason for RSI 40 / 80. This EA is specifically for 1 currency pair trade that suit to my requirement.
2. Entry Execution: Market Order, with
2.1. Input: Lot Size
2.2. Input: Take Profit
2.3. Input: Stop Loss (hidden from market) (2 conditions: At Stop Loss, or Account Balance Protection, whichever reach first)
2.4. When hitting RSI value above 80 / below 40.
2.5. Show TP (blue line) at chart (hidden from market)
2.6. Buy order: blue dot. Sell order: red dot.
3) Input field values (Please rename the description if necessary)
(When it has numerical value, it is manual input, not dropdown menu):
- RSI Period (Day): 7
- RSI Upper Level: 80
- RSI Lower Level: 40
- Manual Order Lot Default Value: 0.10
- Auto Order Lot: [True / False] (by default, for every $10000 balance, trade 1.00 lot.
E.g. if $12500 balance, trade 1.25 lot; if $2000, trade 0.20 lot)
- Auto Order Lot Default Value: 1.00 (This is multiplier, can be 0.20, 0.45, 0.90, 1.50, etc… manual input). if I put 1.50, for $10000 balance, it will trade 1.5 lot.
- Max Auto Order Lot Size: 1000
- Max Floating Orders: 8 (Buy and Sell orders each 8)
- Close Floating Buy & Sell Orders Separately: [True / False]
- Take Profit: 60 (If there are 8 orders at different price point, take the aggregate sum divide by 8, then plus 60, please discuss with me)
- Stop Loss: 5000
- Max Spread Allowed: 10
- Account Balance Protection (%): 50% [balance - equity = 50%] (To close all trades. this is for cut loss purpose)
- Trading Start Hour: 1 (ICMarkets.com, GMT+3)
- Trading End Hour: 23 (Question: Can it be 22:15, 22:30???)
- Pause trading before high important news: 60 (mins)
- Pause trading before medium important news: 15 (mins)
- Pause trading before low important news: 0 (mins)
- Pause trading after high important news: 60 (mins)
- Pause trading after medium important news: 15 (mins)
- Pause trading after low important news: 0 (mins)
- Show Graph Line high important news: True/False
- Show Graph Line medium important news: True/False
- Show Graph Line low important news: True/False
*** Please use forexfactory.com or investing.com for pausing important news.