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RSI Level EA
A simple EA that trades based on Relative Strength Index levels.
How it works?
- This EA trades with Relative Strength Index Level .
- Relative Strength Index Level will base its value on the current time frame.
- Only allows one open trade at a time.
- Two strategy to choose, Reversal and Trend following.
- Optimize risk management settings for lot size and martingale.
- Opens a buy position if the RSI is below oversold level.
- Opens a sell position if the RSI is above overbought level.
if Close on Reverse Trend is set to true.
- Close a buy position if the RSI is above overbought level.
- Close a sell position if the RSI is below oversold level.
- Opens a sell position if the RSI is below oversold level.
- Opens a buy position if the RSI is above overbought level.
- Close a sell position if the RSI is above overbought level.
- Close a buy position if the RSI is below oversold level.
if Close on Reverse Trend is set to true.
- MagicNumber - return an identifying (magic) number of the currently selected order.
- Custom Comment - trade comment text.
- Strategy - The option to choose Reversal or Trend Following.
- Max Spread Pips - distance between Ask and Bid, at which you allow the EA to open a trade.
- Max Slippage - The difference between the expected price of a trade, and the price the trade actually executes at which you allow the EA to execute an order.
- ~~~~~RSI Settings~~~~~
- RSI Period - Input RSI period.
- Over Sold - Input Oversold level.
- Over Bought - Input Overbought level.
- Indicator Bar Value - The option to choose current bar value or closed bar value.
- ~~~~~Risk Management Settings~~~~~
- Start Lot - Starting lot size.
- Loss Factor - Multiplier of last lot size if the last trade was a loss.
- Max Consecutive loss - Maximum Consecutive loss, it will restart to starting lot size if reached.
- StopLoss - Stop loss value relative to open price. Measured in pips.
- TakeProfit - Take profit value relative to open price. Measured in pips.
- Trailing Step - Modify Stop order in steps when moves price moves to its favor, set 0 to deactivate.
- Trail above break even - if set to true it will only trail if calculated stop loss moves in favor of the order open price. (Above Buy Order Open Price, Below Sell Order Open Price)
- Close on Reverse Trend - if set to true, it will close open trade if it met the condition in reverse of opening the trade.
- Use_Candle_Filter - if set to true, it will only buy if the previous candle is bullish, and sell if the last candle is bearish.
- ~~~~~Time and Day Filter Settings~~~~~ - For Opening of Trades Only.
- Daily Start Time - Starts to open a trade.
- Daily Stop Time - Ends to stop opening a trade.
- Monday - Trade on Monday.
- Tuesday - Trade on Tuesday.
- Wednesday - Trade on Wednesday.
- Thursday - Trade on Thursday.
- Friday - Trade on Friday.
- ~~~~~Alert Settings~~~~~
Martingale is a very risky strategy!
Do not trade with money you can’t afford to lose!
Consider withdrawal as a part of the strategy!
For more questions and suggestions, private message me here at MQL5.
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Yitzon Manuel Belandria Oropeza
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BLAKE STEVEN RODGER
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Le Dang Nguyen Hoang Vu
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Walter Wolseley Pessoa Batista De Lima
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My Name is Yuri - I'm a Trader! For many years I have been buying a lot of trading EAs. But all of them were not suitable for my trading style For more than a year I've been developing my own trading system My robot with all my skills and many years of trading on the market is ready! Forget about beautiful backtests: EA Machine is already ahead of the curve! The truth is this. The biggest problem with most automated trading systems is that they all show beautiful backtests, but few ac
TakePropips Golden Expert150 USD
Eric John Pajarillaga Aldana
TakePropips Golden Expert is a trading robot specifically developed for trading Gold (XAUUSD). This EA automatically detects high probability trade setups using advance trend algorithm! It is based on price action and a combination of key technical indicators to determine future price movements. The EA was optimized using a 1:1 risk/reward ratio so this EA will have the same size for take profit and stop loss! Main Features: All Orders Are Protected By Stop Loss Avoids unnecessary huge loss
GerFX Density Scalper2 000 USD
Exler Consulting GmbH
IMPORTANT: Please contact me after buying or renting for the correct key paramter. Before you buy a night scalper please be aware of the risks involved: 1) Past performance is no guarantee of future profitability (the EA could also make losses). 2) The backtests shown (e.g. in screenshots) are highly optimized to find the best parameters but therefore results cannot be transferred to live trading. 3) Any mean reversion can get caught on the wrong side of a fast movements due to unexpected new
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Version 1.5 2021.07.27
Added Custom Comment - trade comment text.
Version 1.4 2021.02.10
Change the logic of Trail to move on step.
Added Trail above break even, if set to true it will only trail if calculated stop loss moves in favor of the order open price.
Added Trail above break even, if set to true it will only trail if calculated stop loss moves in favor of the order open price.
Version 1.3 2020.06.10
Added "Use_Candle_Filter"- if set to true, it will only buy if the previous candle is bullish, and sell if the last candle is bearish.
Version 1.2 2020.03.29
Changed default settings.
Changed product description on "About Tab".
Added voice instruction on clicking contact me button.
Changed product description on "About Tab".
Added voice instruction on clicking contact me button.