Patient RSI Trader EA MT4

Short description:
Only one trade is executed per pair, with a duration of about 1 day up to 2 months, requiring you to be patient.
EA is focusing on market high/low RSI reverse points to enter into trend direction and targeting 150-550 pips profit with single trade.

  • One Trade Per Pair (trend)
  • No Martingale
  • No Grid

Overview:
Patient RSI Trader is a carefully engineered Expert Advisor designed for traders who utilize the Relative Strength Index (RSI) to guide their trading decisions. This EA combines the power of the RSI and Stochastic indicators to identify precise entry and exit points, enabling a methodical and patient trading approach.

Key Features:

  1. RSI-Based Trading Strategy: At the core of the Patient RSI Trader is the RSI indicator, which drives trade execution based on user-defined RSI thresholds. The RSI is calculated on the daily timeframe (D1) with customizable settings, providing the flexibility needed to adapt to different market conditions.

  2. Stochastic Precision Filtering: For added accuracy, the EA integrates an optional Stochastic filter. This filter enhances trade confirmation by requiring specific Stochastic conditions to be met, thereby reducing the likelihood of false signals and improving trade precision.

  3. Configurable Trading Parameters:

    • Lot Size: Adjustable lot size to tailor risk management to your trading strategy.
    • Slippage: Control over maximum slippage to ensure smooth trade execution.
    • Take Profit: Set your desired take profit level in dollars or choose to disable this feature.
    • Magic Number: Customize the Magic Number for easy identification and management of trades.
    • Comment: Add personalized comments to your trades for better tracking and analysis.

  4. Patient Trading Approach:

    • Trade Duration: This EA is designed with patience in mind, typically holding trades for 1-3 months. This longer-term approach is reflective of its name, allowing for the capture of significant market movements.
    • Buy Trades: Opens a buy position when the RSI drops below a specified level (default 30). With the Stochastic filter enabled, trades are further validated by a Stochastic crossover in an oversold zone.
    • Sell Trades: Initiates a sell position when the RSI exceeds a certain threshold (default 70). When the Stochastic filter is active, a crossover in an overbought zone confirms the trade.
    • Exit Strategy: The EA automatically closes trades when the RSI reaches a user-defined exit level or when the profit target is achieved.

  5. Automatic Order Management: Patient RSI Trader continuously manages open trades, closing them based on the RSI conditions or the set profit target. This automation minimizes the need for constant oversight, freeing up your time for other market analyses.

Specifications:

  • Timeframe: D1 (Daily)
  • Trade Duration: Typically 1 day to 2 months
  • Recommended Pair: EURUSD, GBPUSD (can also work with other forex pairs)

  • Minimum Required Deposit for Safe Trading:
    • $400 -  0.01 lot - EURUSD - Backtest (2023.01.01-2024.08.17) shows DD: 7.19% and Account Gain: +50.9% | EA default setttings
    • $4,000 - 0.10 lot - EURUSD - Backtest (2023.01.01-2024.08.17) shows DD: 7.19%  and Account Gain: +50.9% | EA default setttings
    • $400 - 0.01 lot - GBPUSD - Backtest (2023.01.01-2024.08.17) shows DD: 7.9% and Account Gain: +33,5% | TP: 55, Stohastic: Enabled
    • $4,000 - 0.10 lot - GBPUSD - Backtest (2023.01.01-2024.08.17) shows DD: 7.9%  and Account Gain: +33,5%TP: 550, Stohastic: Enabled

Note: It is highly recommended to test the EA on a demo account or in a backtesting environment before live deployment to ensure it aligns with your trading objectives.
The market is constantly evolving, and the profits demonstrated in backtesting are not guaranteed in future trading.

Who Should Use This EA? Patient RSI Trader is ideal for traders seeking a disciplined, long-term trading approach with RSI and Stochastic indicators. Whether you're new to trading or a seasoned professional, this EA offers the robust, methodical strategy you need to capture significant market trends.


Version:
v1.15
Last update: September 25, 2024

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AllPair Engine – Multi-Strategy EA for Major Currency Pairs | AUDUSD, EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY Description AllPair Engine   is a precision-engineered Expert Advisor designed to operate across six major Forex currency pairs. Rather than using a one-size-fits-all trading approach, this EA integrates   six unique strategies , each carefully structured around the behavioral tendencies of one specific currency pair:   AUDUSD, EURUSD, GBPUSD, USDCAD, USDCHF, and USDJPY . The EA is fully
Exp TickSniper
Vladislav Andruschenko
4 (31)
Exp-TickSniper is a fast tick scalper that automatically selects parameters for each currency pair separately. The EA has been developed based on experience gained in almost 10 years of EA programming. The EA performs short-term trades using smart trailing stop and based on the current currency pair data, its quotes, specification and spread. The averaging strategy is used to prevent losses caused by the signals detection algorithm. If an open position suffers a certain loss, then the function
GOLD EAgle mt4
Evgenii Aksenov
4.67 (119)
Big sale 50% OFF! Price $199. Regular price $399 All our signals are now available on myfxbook:   click here   Unique set files and all recommendations are provided free of charge. All future updates of the adviser are included in the price. After the purchase, contact me and I will help you install and configure the robot correctly. I will also share with you information on how to get a free VPS from a reliable broker. GOLD EAGLE is a swing strategy that is for the market in flat, which is 80-
OpenScalp GXT AI Mt4
Connor Michael Woodson
OpenScalp GXT is a straightforward scalping system backed by consensus from the latest GPT models. You can select the model you prefer from the dropdown located in the input settings or let the EA choose the model automatically.  Every order is entered on its own, one trade at a time with no gimmicky martingale/grid trades. Additionally, every position is protected by a virtual dynamic stop loss system with a fully customizable fixed stop loss available. The AI consensus combined with dynamic vo
HFT Prop Firm EA
Dilwyn Tng
4.96 (671)
HFT Prop Firm EA is  also known as Green Man due to its distinctive logo, is an Expert Advisor (EA) crafted specifically for overcoming challenges or evaluations from proprietary trading firms (prop firms) that permit High-Frequency Trading (HFT) strategies. With version 5.8 and above GreenMan  HFT Prop Firm EA is plug and play for for almost true HFT prop firm challenges without setfiles with it newly improved automatic features. For limited period: Free utilities worth $198 when you buy HFT
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