PZ RSI Trader EA MT5
This EA trades using the RSI Indicator. It offers many trading scenarios and flexible position management settings, plus many useful features like customizable trading sessions, a martingale and inverse martingale mode. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]
- Easy to use and supervise
- It implements three different entry strategies
- Customizable break-even, SL, TP and trailing-stop
- Works for ECN/Non-ECN brokers
- Works for 2-3-4-5 digit symbols
- Trading can be NFA/FIFO Compliant
- Implements a martingale and inverse martingale features
- Customizable indicator settings
- Filter trading by forex sessions
- Built-in money management
The EA implements the following entry strategies, that can be enabled or disabled at will:
- Trade when the RSI Indicator is oversold or overbought
- Trade when the RSI comes back from an oversold or overbought condition
Four different trading behaviors are available in the EA inputs:
- Regular: The EA will buy at bullish signals and sell at bearish signals
- Inverse: The EA will sell at bullish signals and buy at bearish signals
- Only Buy: The EA will buy at bullish signals and disregard bearish signals
- Only Sell: The EA will sell at bearish signals and disregard bullish signals
Additionally, it implements four different money management modes:
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will risk % of the account on each trade
- Martingale: The EA will double the lotsize after a losing trade
- Inverse Martingale: The EA will double the lotsize after a winning trade
- Indicator Settings - Enter your desired RSI input parameters and oversold/overbought values.
- Position Management - This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, break-even behavior, trailing-stop in pips, trailing-step in pips, stop-loss in pip and take-profit in pips.
- Trading Settings - Select trading direction and trading scenarios to trade.
- Session Settings -Enable or disable trading for the Asian, European or American sessions, as well as trading week days.
- Filter Settings - This parameter group allows you to enable or disable multi-timeframe logic for the trades. For example, if you want to trade on the H1 chart confirmed by the D1 RSI, load the EA on the H1 chart and set D1 Filter to true.
- Money Management - In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended. You can also enable NFA/FIFO compliant trading
- EA Settings - You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
What to expect
This EA is a general purpose tool which success depends on your understanding of the underlying strategy and your ability to
configure it. This EA will not generate profits under all market conditions and does not claim to do so. It is up to you to find the best
parameters for each symbol and timeframe using the strategy tester.
SupportI am happy to provide free products but given my limited time, they come without support of any kind. My apologies.
Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.