RSI-ATR Based Grid System

Strategy Summary

1. Signal Generation (Two-Candle RSI Reversal):

• Buy Signal:
  The EA first waits for a candle where the RSI closes below the buy threshold (30), indicating an oversold condition. Then, on the following candle, it confirms the reversal by checking that the RSI closes above 30. Once this two-candle confirmation occurs, a buy order is triggered.

• Sell Signal:
  Similarly, a sell signal is generated when the RSI first closes above the sell threshold (70), showing an overbought condition, and then on the next candle it closes below 70 to confirm a potential downward reversal.

2. Position Sizing:

• The lot size for each trade is calculated using the formula: 

Lot size = ((Balance or Equity / 100) × RiskPercent) / 1000)​

3. ATR Grid System for Averaging Down/Up:

• If the market moves against the initial trade, the EA employs an ATR-based grid system. It places additional orders (grid steps) at intervals determined by the ATR using ATRforGrid.

• Take profit is adjusted with each grid step so that the total points is equal to the original ATRforTP

• The grid will continue to add orders until the maximum number of grid orders (MaxGrid) is reached.

4. Protective Stop Order When Grid Is Complete:

• For a Buy Grid:
  Once the maximum number of buy orders is reached, the EA places a protective sell stop order at a distance equal to ATRforGrid. The size of the sell stop order is the total volume of the grid. I.e. creating a perfect hedge if reached.

• For a Sell Grid:
  Likewise, when the grid consists of sell orders up to, a protective buy stop order is placed. The size is determined by the sum of the open sell trades, covering the combined volume.

5. StopOrder/StopLoss/None:

• This setting should give the EA the option to use the protective Stop Order or a Stop Loss to close all trades in a grid; or No stop order and no stop loss.