Market / MetaTrader 4 / Experts /

RSI Level EA

50 USD

Demo downloaded: 327

Published: 5 March 2020

Current version: 1.5

RSI Level EA

Experts
Genesis Hafalla
Genesis Hafalla
Programmer at GenieBull Trader

Philippines

14217
4.9 (193)
- https://gbtrader.dev
Fueled by coffee and optimism, even on 1 % battery—ambitiously steering through questionable choices as a part-time realist and full-time daydreamer.

5 products 1 signal 5 topics 48 comments
Version: 1.5
Updated: 27 July 2021
Activations: 20

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.

Strategy:

Reversal

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.

Trend Following

Opens a sell position if the RSI is below oversold level.
Opens a buy position if the RSI is above overbought level.

if Close on Reverse Trend is set to true.

Close a sell position if the RSI is above overbought level.
Close a buy position if the RSI is below oversold level.

Parameters:

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~~~~~
Send_Email
Audible_Alerts
Push_Notifications

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!

more...

1651

Geneiryodan 2021.09.05 08:27 #

I was able to make a profit immediately after purchasing this EA. I am grateful to the author.

228

Vns Oktora 2021.02.01 02:47 #

Works good! Of course with the right money management. Thanks

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This EA utility does not trade on its own, but it only modifies the open trades to add take profit and stop loss that was opened manually or by any other expert advisors. The distance is based on Pips . How Does It Work? If Symbol to modify is set to "All Symbol" simply attach it to one chart, and all open trades in the entire terminal will set the take profit and stop loss . If Symbol to modify is set to "Local Symbol" , it will only set the ta

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GenieBull The Logical Trader is a fully automated hedging grid expert advisor for MT5. It does not predict direction. Once per cycle, inside a session window you define, it arms a pending-order straddle around the current price and lets the market choose the side. All distances adapt to volatility through ATR, so the same settings scale across symbols and market conditions. How it trades At the start of a cycle the EA places a pending straddle: a stop order on each side of price at ATR-based dis

99 USD

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1651

Geneiryodan 2021.09.05 08:27 #

I was able to make a profit immediately after purchasing this EA. I am grateful to the author.

228

Vns Oktora 2021.02.01 02:47 #

Works good! Of course with the right money management. Thanks

RSI Level EA

Genesis Hafalla