RSI GridMaster MT4
- Experts
- Adam Zolei
- Version: 1.0
- Activations: 10
Welcome! I am pleased to introduce to you the RSI GridMaster Expert Advisor, a sophisticated and flexible automated trading system that allows you to optimize your trading strategy based on the RSI indicator. This expert advisor is the result of extensive development and thorough testing.
The strategy is based on monitoring the overbought and oversold conditions of the RSI indicator. When RSI returns from the overbought region, it opens a sell order, and when it returns from the oversold region, it opens a buy order.
With numerous customizable settings, it can be optimized to meet individual needs and risk tolerance to the fullest extent. These settings include RSI values, maximum open trades, distance between trades, auto lot function, trailing stop, disabling buy or sell orders, martingale option for more aggressive strategies, and cut loss feature.
It does not include an automatic news filter but is equipped with a manually adjustable time filter to allow you to choose your trading hours according to your preference. The time filter is only valid until the first order, after that risk can be reduced with grid distance and maximum open positions.
Recommendations:
- Currency pairs: GBPUSD, EURUSD, AUDCAD
- Timeframe: M5-H1
- Recommended risk level: 1 or lower
- Minimum deposit: $1000 per currency pair
- Leverage: Minimum 1:100, recommended 1:500
- Account type: ECN, Raw, or Razor with very low spreads.
- Use a VPS for the EA to operate 24/7 (strongly recommended)
Adjustable parameters and explanations:
- RSI_Period: Sets the RSI period, default is 18.
- RSI_oversold_first_trade: Sets the oversold level for the first trade when RSI crosses from below, opens a buy position.
- RSI_overbought_first_trade: Sets the overbought level for the first trade when RSI crosses from above, opens a sell position.
- RSI_oversold_grid / RSI_overbought_grid: Sets the RSI levels for additional trades.
- Signal_timeframe: Sets the timeframe for RSI indicator.
- Auto_lot: Enables auto lot sizing based on balance.
- Risk_level: Determines lot size based on risk; if Risk = 1 -> $1000 USD balance/0.01 lot.
- Fix_lot: Sets a fixed lot size.
- Maximum_open_trade: Limits the number of open positions.
- Cut_loss: Enables cut loss function.
- Cut_loss_balance_percentage: Closes all open positions when equity decreases by a specified percentage.
- Profit_in_pips: Specifies the total pip profit to close all positions.
- Minimum_grid_distance_in_pips: Sets the minimum distance between two positions.
- Fix_distance_grid: Specifies a fixed distance between positions.
- Spread_filter: Sets the maximum spread for position opening.
- Buy_orders / Sell_orders: Can disable buy or sell orders.
- Trailing_stop_first_order: Sets trailing stop for the first order.
- Trailing_start / Trailing_stop / Trailing_step: Parameters for trailing stop function.
- Martingale: Enables martingale function.
- Multiply_lots: Sets lot size multiplier.
- Volume_upper_limit: Specifies the maximum volume for positions.
- Martingale_profit_percentage / Martingale_fix_profit / Martingale_profit: Parameters for martingale function.
- Time_filter: Allows filtering trades by days and hours.
The tests were conducted on the IC Markets platform with GMT+2 server time. The default settings offer a relatively low-risk strategy that works with all three recommended pairs, using a fixed lot size. However, here you can find some additional settings:
Download the demo and test it according to your own strategy.
Past performance does not guarantee future profits, always conduct thorough testing for your strategy. Only use this expert advisor if you are familiar with the risks associated with grid strategy.
Check out my other products as well: https://www.mql5.com/en/users/8587359/seller
Wishing you successful trading!
