This is a professional trading robot, which implements the classical RSI based trading strategy. The signal is produced upon exiting of RSI from the overbought/oversold areas; the levels of those areas will be levels with the values of LevelMax and LevelMin.
We buy, as RSI falls lower than a certain level (LevelMin) and then rises above it. We sell, as RSI rises higher than a certain level (LevelMax) and then falls below it. Also, the signal can be inverted.
The EA correctly processes errors and works reliably in the market. It is important to choose the direction of the EA operation: both sides, only buy or only sell.
The Expert Advisor uses the basic concepts: breakeven, trailing, stop loss and take profit, as well as closing by an opposite signal.
- Magic - the magic number, an arbitrary integer.
- Work Period - the period, on which the EA operates.
- Risk - risk to enter the market, set as a percentage of loss of the total deposit. The lot is calculated relative to the stop loss and acceptable loss in case stop loss triggers.
- LotRounding - lot rounding (to a required number of decimal places).
- Deviation - requotes.
- Sleeps - waiting for position opening, closing or modification.
- StopLoss - the stop loss size.
- TakeProfit - the take profit size.
- Trailing Period - the trailing stop period.
- Trailing Breakeven - breakeven level. 0 - disabled.
- Trailing Start - trailing start level. 0 - disabled.
- Trailing Stop - trailing stop level. 0 - disabled.
- TrailingStep Period - trailing stop period.
- Prohibit new series - if you need to close the current position and stop opening new ones, enable this option.
- WorkOpenLong - allow to open a long position.
- WorkOpenShort - allow to open a short position.
- WorkCloseLong - allow to close a long position.
- WorkCloseShort - allow to close a short position.
- Inversion - entry signal inversion.
- SignalBar - the bar to start analyzing the indicator (1 means the first completely formed bar).
- Signal Period - the period on which the indicators work.
- LevelMin - minimum level.
- LevelMax - maximum level.
- PeriodRSI - RSI period.
- AppliedPriceRSI - the price used for calculations.