RSI PRO version
- Experts
- Maksim Novikov
- Versione: 1.0
- Attivazioni: 20
RSI PRO: Automating a Classic Strategy with Risk Management
The RSI PRO version Expert Advisor is designed for traders who value the reliability of the classic RSI indicator but seek to enhance their strategy through a systematic approach. This tool automatically identifies overbought and oversold zones and can employ a position averaging method to manage trades in volatile conditions.
Key Features of the Expert Advisor
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RSI-Based Strategy: The algorithm's core logic is built around signals from the Relative Strength Index oscillator, one of the most well-known and time-tested tools in technical analysis.
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Integrated Position Management Methods: To handle market fluctuations, the EA includes the functionality to build a grid of orders with a configurable lot increase coefficient.
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Control Over Risk Parameters: You have full control to set key parameters: trade volume (fixed or a percentage of deposit), Stop Loss and Take Profit levels, as well as settings for the averaging system.
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Focus on Higher Timeframes: The EA demonstrates stable performance on hourly (H1), four-hour (H4), and daily (D1) charts, where market noise is reduced and signals carry more weight.
How It Works
The EA monitors the position of the RSI line relative to user-defined levels (default 30 and 70). Upon receiving a trading signal, an initial position is opened. The further development of the trade depends on price movement and your settings. When the averaging function is active, the EA can open additional orders according to a defined algorithm, allowing for flexible management of an open position.
Usage Recommendations
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It is recommended to use the H1 timeframe and above for testing and live trading.
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Settings for the lot multiplier require careful consideration and should be tested beforehand in the Strategy Tester.
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As with any trading tool, a crucial step is forward-testing the EA under various market conditions.
This tool is suitable for traders looking to automate trading based on the classic RSI strategy while applying systematic money management methods. You can download a free demo version to evaluate the logic and test the Expert Advisor on historical data.
