this robot would use the rsi for buy and sell signals together with price action
for sell signal
when the rsi gets to a minimum of 65points the robot opens a sell position at the close of a bullish candle
note this points would have an option for preference so we can decide to adjust to the point we want it to start the execution but 65points would be the default
if (the next candle is bearish the robot doesn’t open a position )
else if{the next candle is bullish and closes 4pips or 4.57pip the bot shouldn’t open a trade the bot should only open a trade when the next bullish candle closes at a minimum of 5pips above the previous bullish candle}.
if (the trade closes on profit and the rsi is above 65point still the bot should open another sell trade at the close of a bullish candle)
else {shouldn’t open a trade if the rsi is below 65}
for buy signals
when the rsi gets to a minimum of 25points the bot should place a buy position on the close of a bearish candle note if the next candle is bullish the bot wouldn’t execute any order
if the next candle is bearish and closes below 5pips from the previous bearish candle the bot shouldn’t open a position the bot would only open a position when the next bearish candle is more than 5pip away from the closing of the previous bearish candle
if (all the trade are closed and the rsi is still within 25points the bot should open a trade (buy position) at the close of a bearish candle )
the bot should not open a trade if the rsi is above 25points
}
lot sizes
this robot uses martingale for the lot size starting from 0.01 now the martingale would be in an increment of +1 on default
example first trade 0.01 for the second trade would be 0.02 + the previous lot size (0.01)= 0.03 this would be the lot size for the second position
for the third position would be previous lot + martingale (0.03 +0.03 ) = 0.06
for the forth position would be previous lot + martingale (0.06 + 0.04) = 0.10
etc
parameteres:
max trade : if this is set to 5 then after five open positions the bot wouldn’t open any trade anymore until the trade is closed
martingale level : if this is set to 2 then the martingale would increment by 2 for example 0.01 increment 0.02,0.04,0.08,0.10
remember the formula for the next lot previous lot size + martingale
tp(take profit ) : the tp would be on default on 45% of the total move of the position opened for example the bot has opened 4 trades and the last trade had a lot size of 0.10 and has moved 100pips the tp would be @ 45pips from the last position
note this tp would have a preference option to choose default would be 45% we can choose or input digits from 35 to 100%
sl (stop loss): this would be set base on equity or balance and would close the trade when it get to the preference chosen
bal 20% this would be the sl on default when chosen same for equity
trailing stop : if this is set to true then if a position is opened then it goes to profit but not @ the tp a trailing stop loss should be executed to hold the profit so if there a reversal it secures the profit and closes it on small profit
this preference would be chosen from the number of positions i.e if the trailing stop is set to 10 when the 10th position is opened and the trades are running in profit but not yet at the tp a trailing stop would be executed to secure profit
close all trades: this would enable one to close all trades either in profit or in loss
spread filter : this would would set the max spread to open trades and if spread is higher than the max been set the bot wouldn't open any trade
day/time filter: this would enable trading days and no trading days when set to true for example friday set to false trade wouldn't be placed on Friday's and if there is a running trade getting into Friday the bot wouldn't open any new trade
i want this robot should have a key for only per account
to be able to set rental period and gets deactivated when its due
contributions are welcome
the file i attached would be on the dashboard when the ea is loaded on the chart
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