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EA Greed Master RSI 50

The Greed Master RSI 50 trades based on the signals of the RSI indicator. Trades are performed in an appropriate direction when the indicator crosses the level of 50. If the indicator is greater than 50, the direction is Short, if the indicator is less than 50 - the direction is Long. Profitable trades are closed by take profit. Loss-making ones are averaged by the EA. An order grid is created in the same direction, a breakeven level is calculated, and the grid is closed by take profit when the price reaches it.


  • MAGICB - Long magic number;
  • MAGICS - Short magic number;

Trading hours

  • Hours_to_GMT_Offset - known server time shift hours (GMT).
  • Hours - if true the EA trades with a specified Begin_hour parameter (GMT) up to End_hour (GMT). If false, the EA trades constantly.
  • Begin_hour - start hour (initial trades);
  • End_hour - end hour (initial trades);

Initial conditions

  • Deals - number of initial trades opened simultaneously;
  • MaximumRisk - starting lot of initial trades. The parameter depends on the deposit balance;
  • LotStop – lot limitation from MinLot to MaxLot. Limits the growth of the lot size for the initial trades in the grid.
  • LotForManual – initial lot size value for manual trading.
  • DecreaseFactor - decrease a lot size of initial trades;
  • TP - take profit in points from an open price or breakeven level;
  • SLPLUS - stop loss in points from the price of the level (n +1);
  • CoefLot - lot increase ratio when increasing the number of levels in the averaging grid. If 1, the lot is not increased for following trades in the grid. If the value exceeds 1, while Step is decreased down to 2-5 and MaximumRisk is increased, the profit per time unit is increased as is the risk of Margin Call and Stop Out. These are the aggressive parameters. They can be used in the night trading (Hours = true; Begin_hour = 20; End_hour = 4) or on a quiet market. Regular withdrawals from an account are recommended. If the parameter is close to 1, while Step is within 50-250 and MaximumRisk is 0.01 or lower, the profit per time unit is not so considerable but the EA almost does not suffer from unexpected news and exchange rate interventions accompanied by high volatility. Passive parameters. All modes are set by selecting parameters using optimization for certain demands and deposits;
  • RSI - RSI indicator period. If the indicator exceeds 50, Short direction is selected, if it falls below 50, Long one is used;
  • Step - step (in points) between the averaging grid levels (0.2 and above);
  • OnOffUnLine - if true, the mode of uneven averaging grid step increase is activated.
  • ULkoef - averaging grid step growth ratio;

Forced direction selection modes

  • SELL - if true, SELL direction is allowed;
  • BUY - if true, BUY direction is allowed;

Limitation parameters

  • LotMax - limitation of maximum lot, that can be used by the EA when plotting grids.
  • OnOffLock - if true, Margin Level limitation mode is enabled. If during the EA operation, Margin Level falls below LockLevel, the EA calculates total lots in both directions. The difference from the lots' parity is calculated and a trade is made in the direction of a least total lot equal to the difference value. Thus, the lots parity is established (locking). In other words, a loss in one direction is balanced by a profit in another. The EA stops any activity allowing traders to handle this potentially dangerous situation on their own;
  • LockLevel - Margin Level value limitation;
  • BW – color correction for the 'black&white' window mode.
  • DelObj – if true, all objects of the EA are deleted from the chart when the EA is deleted.

TrailingStop and TrailingStep - trailing parameters.

These parameters allow you to set Greed Master RSI 50 into different modes according to your objectives.

The default parameters are configured for EURUSD M15 and considered moderately aggressive.

Hendrikus Pelgrim
2016.09.14 09:00   

Blow up my account, $1000 gone with this EA.

DD 50% and more.

Trading against the market.

Terrible EA be warned.

Version 1.2 - 2016.10.13
Made changes and additions at the customers' request:

NumbLot - the number of significant digits after the decimal point. This is for stocks, commodities and indices, there is NumbLot = 1 (lot Step = 0.1);
AxelOption - enable/disable the drawdown limiting mode.
LimLossMoney - the maximum amount of drawdown in any of the directions, after which the direction is closed;
MinPauseBegin - pause in minutes after closing a direction for any subsequent deals;
MinPauseNetUp - current pause in minutes between deals on the same grid UP;
MinPauseNetDn - current pause in minutes between deals on the same grid Down;
OnOffStopDeals - enable/disable limiting the number of deals in one direction;
StopDeals - the maximum number of deals in one direction;
CloseDeals - delete the deals.
Version 1.1 - 2016.09.26
1. Added StopLoss and TakeProfit to every trade. If an averaging grid is plotted in the direction, the STTP manager places the TakeProfit and StopLoss uniformly for the entire grid. All trades are protected in case the connection to broker is lost.
2. Updated the lot value during manual lot selection in order to approximate the breakeven + TakeProfit to the current rates.
3. Default parameters are set for EURUSD M5.
4. SLPLUS parameter - StopLoss.
5. Step parameter - the old value should be multiplied by 10. Corresponds to the number of decimal places.
6. TP parameter - similar to p.5.
7. Added diagnostics, in case the parameters are selected by the user incorrectly.
8. Added the TP-SL Stop Levels button. When pressed, it indicates the Stop Levels (for BUY and SELL) set by the broker using lines and numbers, to facilitate navigation while placing pending orders.