RSI BandMaster
- Experts
- Version: 1.0
RSI BandMaster is a trend-following Expert Advisor based on the RSI Bands indicator. The indicator creates dynamic support and resistance bands around the price. The Expert Advisor opens trades when the price breaks through these bands and automatically closes positions once the predefined profit target is reached.
Key Features
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Automatically opens trades based on breakouts of the dynamic support and resistance bands generated by the RSI Bands indicator.
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Displays support and resistance bands directly on the chart for real-time market visualization.
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RSI period, overbought level, and oversold level can be easily adjusted from the EA input parameters.
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Optional Recovery Mode gradually increases position size according to predefined rules to recover losing positions.
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Optional Hedge Protection opens an opposite position when the total floating loss reaches a specified threshold.
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Advanced profit calculation that can include swap charges.
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Built-in spread filter prevents opening new trades during periods of high spreads.
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Compatible with all symbols and all timeframes.
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Supports Magic Number, allowing multiple Expert Advisors to run simultaneously on the same trading account.
Basic Trading Settings
Magic Number (12345)
A unique identifier used to distinguish trades opened by this Expert Advisor.
Initial Lot Size (0.01)
The lot size used for the first trade.
Maximum Spread (3 pips)
No new trades will be opened if the current spread exceeds this value.
Recovery Settings
Recovery Distance (0.6 pips)
The minimum price movement required before opening a new recovery position.
Lot Increment (0.01)
The amount added to the lot size for each new recovery trade.
Minimum Price Distance (12 pips)
The minimum required distance between positions opened in the same direction.
Take Profit Distance (7 pips)
The target profit distance calculated from the average entry price of all open positions.
Distance Multiplier (300)
Gradually increases the recovery distance as the total position size grows.
Maximum BUY Positions (50)
The maximum number of simultaneous buy positions.
Maximum SELL Positions (50)
The maximum number of simultaneous sell positions.
Hedge Protection
Enable Hedge Protection (Disabled)
Enables or disables the hedge protection system.
Hedge Activation Loss (-500 USD)
The total floating loss required before opening a hedge position.
Hedge Stop Loss (50 pips)
The initial stop-loss distance for the hedge position.
Hedge Break-even Distance (20 pips)
Once the hedge reaches this profit, the stop loss is moved to the entry price.
Hedge Lot Ratio (1.0)
Hedge position volume = Total open position volume × Hedge Lot Ratio.
Profit Calculation
Swap-Adjusted Profit (Enabled)
When enabled, overnight swap charges are included in the profit calculation, allowing profit targets to reflect the actual trading costs.
RSI Bands Settings
Overbought Level (70)
The RSI level used to calculate the upper band.
Oversold Level (30)
The RSI level used to calculate the lower band.
RSI Period (14)
The calculation period of the RSI indicator.
Chart Display
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Show Bands on Chart
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Upper Band Color
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Lower Band Color
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Middle Line Color
These settings affect only the chart appearance and do not influence the trading logic.
The Recovery system uses a position scaling method that carries risks similar to a martingale strategy. During strong market trends, it may result in substantial losses and significant drawdowns.
The Hedge Protection feature is designed to reduce risk but cannot eliminate losses under all market conditions.
It is strongly recommended to test the Expert Advisor on a demo account before using it on a live account and to configure all parameters according to your own risk management strategy.
Past performance does not guarantee future results. Trading financial markets involves significant risk, and you may lose part or all of your invested capital.
