RSI 2 Storm
- Experts
- Version: 1.0
- Activations: 5
How does it work?
IFR 2 Storm checks the value of RSI 2 for each new candle, making only buy entries. When RSI 2 is below the configured parameter, the first entry is made. If the configured take profit is not reached ([default] maximum of the two previous candles) by the close of the next candle, the second entry is made. If the take profit is not reached by the start of the next candle, the third entry is made. The stop loss is not calculated in price, the stop loss is calculated in candles (default 4 candles after the third entry).
Advantages:
- Although this is RSI 2, the RSI period is adjustable.
- The value that defines the oversold market is adjustable.
- Candle amounts for adjustable stop loss.
- Number of previous candles for calculating adjustable take.
- Candle period is adjustable.
- The calculation for the value used in the entries is flexible, the trader can choose between using fixed lot values, capital value (Dollar, Euro, Real etc...), or as a percentage of total capital.
How to use:
Set the RSI period, I suggest keeping the period 2, set the RSI value for oversold market, I suggest keeping it between 25-20, set how many previous candles the EA should use to calculate the maximum used as take profit, set how many candles should be used as stop loss, they are counted from the third entry;
To define the value used in the inputs, first define "Calculate the value of the lot in":
CAPITAL: Uses fixed values in the pair currency, example XAUUSD "1st entry in capital value": 100 = 100 dollars will be used in the entry.
LOT: Uses the batch quantity to make entries, for example XAUUSD "1st Lot size": 0.1 will use 0.1 XAUUSD in the entry.
PERCENTAGE: Uses a percentage of the trader's available capital, example: Capital $1000.00 "1st entry percentage in capital value": 10 the value used in the entry will be $100.00.
Recommendations
- Currency pair: XAUUSD, GOLD
- Timeframe: 12H, Daily
- Minimum deposit: $100
- Account Type: Any
Risk Warning:
Before you buy RSI 2 Storm, please be aware of the risks involved. Past performance is no guarantee of future profitability (EA may also have losses). The backtests shown are highly optimized to find the best parameters, so the results are not transferable to real trading. Do not invest or risk money that you cannot afford to lose.
