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LUCKiya

The EA uses the RSI indicator!

The principle of the Expert Advisor operation is simple: When the market is overbought - it sells, oversold - buys!

Trades happen:

  • Sell - after the candle closed in the overbought zone
  • Buy - After the candle closed in the oversold zone

Next, if the price went the opposite way, the EA opens an additional order, places TP, if TP was not triggered after a specified step parameter, opens one more order with the lot size multiplied by the value of lot_factor, and so on until the number of orders reaches the value of max_steps, SL is placed in the last step. Once the SL triggers all orders are closed. Locking can be enabled after the step 2 using the lock_step parameter up to max_steps


Strategy example

Various strategies can be used, the signal https://www.mql5.com/en/signals/178291 uses the following:

Set the value of max_steps - 5 and lock_step - 5, lock_koef - 10.0, i.e. covers the volume of all main orders in the grid, in the last step the TP is extended by the take_profit 2 parameter, and if the SL triggers, the loss of the main orders will be covered!

The EA can be optimized for any market situation, the standard initial deposit is recommended from 3000 units per currency pair or more.


General recommendations:

Use StartLots=0.01 per each 3000 units of the currency

Use different Magic numbers for simultaneous trading on multiple currency pairs


Input Parameters:

  • lot - Starting Lot Size
  • lot_factor - lot multiplier
  • take_profit - Take Profit
  • take_profit2 - Take Profit in the last step (if 0 - disabled)
  • take_profit_add - Increase in the value of TP with each subsequent step
  • max_grids - the number of parallel order chains
  • stop_loss - Stop Loss
  • trail - the distance from the price to activate trailing stop
  • trail_start - profit in points to activate trailing stop;
  • step - step between orders in points
  • step_add - Increase in the step length with each subsequent step
  • max_steps - The maximum number of steps
  • lock - Locking (True/enabled, False/disabled)
  • lock_step - Step to start locking from
  • lock_coef - locking ratio, as a fraction of 1 (0,5 – 50% of the main order)
  • rsi_period - RSI period
  • rsi_up_level - The upper level of RSI
  • rsi_down_level - The lower level of RSI
  • magic - Magic number (separate for each currency pair)

Unused parameters, (under testing)

  • atr_period - ATR period
  • atr_level - ATR level
  • atr_step_add - Increase of the step when the specified «atr_level» level is exceeded
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Version 1.2 - 2016.02.15
Fixed testing errors