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Forex RSI Wizard

30 USD

Demo downloaded: 85

Published: 24 August 2018

Current version: 46.0

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Forex RSI Wizard

Experts
Bekim Bytyqi
Bekim Bytyqi
CEO at Self-employed

Germany

491
1 topic 4 comments
Version: 46.0
Activations: 5

The Forex RSI Wizard Expert Advisor works based on changes in the RSI. It looks for the direction and the strength of the Relative Strength Index (RSI) and then places a buy or a sell order in the corresponding direction. To ensure maximum accuracy the EA also takes the bollinger bands in to account, in order to minimize false signals.

Forex RSI Wizard is intended for trading any currency pair on the M5 timeframe or higher. However, backtests indicate that it is best suited for GBPAUD on H1.

Customizable Indicator parameters

Lotsize: Defines the position size, i. e. you can trade 0.01 to 10 or more lots, according to your account size
Stop Loss: Here you can set the stop loss in Pips.
Take Profit: Here you can set the Take Profit in Pips.
Bollinger Bands: Periods, Deviation and Shift: Here you can finetune the settings of the bollinger bands.

For accounts with balances $500+ you can leave the settings as is. For smaller accounts, e.g. $100, we recommend the following settings:

Lotsize [lot]: 0.01

more...

Screenshot #1 Forex RSI Wizard

Screenshot #2 Forex RSI Wizard

Screenshot #3 Forex RSI Wizard

Screenshot #4 Forex RSI Wizard

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This Expert Advisor trades the trends, long and short. As soon as the momentum is big enough it enters a trader. When the momentum gets weaker the trade is being closed. So the Stop Loss and the Take profit is the momentum. It is best suited for the currency pair EURJPY in H1 timeframe. Inputs: Lotsize: The lotsize for the trade StopLoss: Here you can set the S/L level (default: 0 = not active) TralingStop: Here you can set the T/S (default: 0 = not active) TakeProfit: Here you can set the T/P

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