ADDING Fair value Condition to an EA

ADD Fair value gap condition to my RSI EA

Trading Strategy Overview 

Buy Signal: 

1. RSI Condition: 

• The RSI (5-period) on the 15-minute (M15) chart is below 20, indicating that the asset is oversold. 

2. Fair Value Gap Condition: 

• The current price is within a Fair Value Gap on the M15, H1, H4, or D1 chart, indicating a potential imbalance that could be corrected IN ONE OF THE ABOVE TIMEFRAME 

Sell Signal: 

3. RSI Condition: 

• The RSI (5-period) on the 15-minute (M15) chart is above 80, indicating that the asset is overbought. 

4. Fair Value Gap Condition: 

• The current price is within a Fair Value Gap on the M15, H1, H4, or D1 chart, indicating a potential imbalance that could be corrected IN ONE OF THE ABOVE TIMEFRAME 

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Detailed Strategy 

5. Identify Fair Value Gaps (FVGs): 

• Definition: A Fair Value Gap occurs when there is a significant difference between the buy and sell orders, leading to an imbalance. It is typically identified by a sudden price movement with minimal trading in between. 

• Timeframes to Monitor: M15 (15-minute), H1 (1-hour), H4 (4-hour), and D1 (1-day). 

6. RSI Calculation: 

• Use a 5-period RSI on the 15-minute chart to identify oversold (below 20) and overbought (above 80) conditions. 

7. Entry Criteria: 

• Buy Entry: 

• Ensure the RSI (5) on the M15 chart is below 20. 

• Confirm the current price is within a Fair Value Gap on any of the following timeframes: M15, H1, H4, or D1. 

• Enter a buy position when both conditions are met. 

• Sell Entry: 

• Ensure the RSI (5) on the M15 chart is above 80. 

• Confirm the current price is within a Fair Value Gap on any of the following timeframes: M15, H1, H4, or D1. 

• Enter a sell position when both conditions are met.