I have downloaded this EA and did some extended backtesting in order to find the best setting for each currency pair. Then I switched to forward testing for two weeks with positive results. This EA works best if you trade in one direction only, as suggested by Andrey Tatarinov. For this it is advisable to use some Moving Average as filter. I am very satisfied with AVT RSI and can highly recommend this EA.
AVT RSI EA
Expert Advisor is based on the classic indicator - Relative Strength Index (RSI).
3 strategies are implemented for working on this indicator:
- Opening of trades directly when reaching overbought / oversold levels.
- Opening of trades when the reversal pattern is formed in the indicator chart in the areas of overbought / oversold levels.
- Opening order when the indicator value returning from the overbought / oversold levels.
Number of open buy and sell orders is specified separately. With this you can use the EA only in the direction of the trend.
Also implemented the functions of money management, trailing stop, breakeven, notifications. EA automatically detects 4 and 5 digit quotes.
Parameter Description
Money management
- UseMoneyManagement - FixedLot - use fixed lot, AccountBalancePercent - lot as a % of the account balance, AccountEquityPercent - lot as a % of the account equity, AccountFreeMarginPercent - lot as a % of the free margin of the account
- Lot - lot size when FixedLot is selected
- Percent - percentage for the calculation of the lot
- MaxBuyOrders - maximum number of simultaneous open buy orders
- MaxSellOrders - maximum number of simultaneous open sell orders
Takeprofit settings
- TakeProfit - value of Take Profit in points
- StopLoss - value of Stop Loss in points
Trailing settings
- Trailing_Start - start trailing
- Trailing_Distance - distance between the SL and the current price
- Trailing_Step - trailing step
- Trailing_Hidden - use hidden SL
- BreakEven - enable breakeven
- BreakEven_Profit - profit at which the order is transferred to breakeven
- BreakEven_Fix - number of points for fixing profit
RSI settings
- Strategy - choice of strategies for working with the RSI indicator
- RSI_Period - period of the RSI indicator
- RSI_Overbought - overbought level of the RSI indicator
- RSI_Oversold - oversold level of the RSI indicator
- RSI_APPLIED_PRICE - used for price calculation in the indicator
Notification_settings
- SendAlert - enable alert
- SendEMail - enable e-mail notification
- SendPushNotification - enable push-notification
Other settings
- MagicNumber - Magic Number of orders
- TradingTime - enable trading time
- StartTrading - start trading time
- EndTrading - end trading time
- Use_MA_Filter - use a moving average filter
- MA_Period - moving average period

- Optimized code
- breakeven
- trading time
I have downloaded this EA and did some extended backtesting in order to find the best setting for each currency pair. Then I switched to forward testing for two weeks with positive results. This EA works best if you trade in one direction only, as suggested by Andrey Tatarinov. For this it is advisable to use some Moving Average as filter. I am very satisfied with AVT RSI and can highly recommend this EA.