Envelopes RSI Zone Scalper
- Experts
- Allan Munene Mutiiria
- Versione: 1.0
Unleash your trading edge with the Envelopes RSI Zone Scalper MT5 EA, an Expert Advisor for MetaTrader 5, engineered to thrive in any market—forex, commodities, stocks, or indices. This dynamic EA combines the precision of Envelopes and RSI indicators with a zone-based scalping strategy, offering traders a versatile tool to capitalize on price movements across diverse instruments. Whether you’re scalping quick profits or navigating trending markets, this EA delivers a customizable, high-performance framework to trade with confidence.
The Envelopes RSI Zone Scalper employs a sophisticated zone-trading approach, using RSI crossovers (overbought at 70, oversold at 30) and dual Envelopes bands (fast: 150-period, 0.1% deviation; slow: 95-period, 1.4% deviation) on your chosen timeframe (default: current). It opens initial trades when RSI signals align with price touching the Envelopes bands, targeting a profit zone (default: 600 points). If the market moves against the position, recovery trades are triggered at a set zone size (default: 300 points) to balance exposure. A trailing stop (default: 50 points) can be enabled to lock in profits on initial trades once a minimum profit (default: 50 points) is achieved.
Risk management is robust and flexible. Choose between fixed lot sizes or risk-based sizing (default: 1% of account balance per 300 points of risk), tailoring trades to your risk appetite. The EA supports multiple baskets (default: 1), each tracked with a unique magic number. Comprehensive checks for margin, volume limits, and trade levels ensure reliable execution, while detailed error logging keeps you informed. Whether trading EURUSD, gold, or stocks, this EA adapts seamlessly to your market of choice.
Key Features:
- Zone-based scalping with RSI and Envelopes for precise entries.
- Flexible lot sizing: fixed or risk-based (percentage of account balance).
- Trailing stop for initial trades to secure profits dynamically.
- Recovery trades to manage adverse price movements.
- Multi-basket management with unique magic numbers for clear tracking.
Inputs Description
- Lot Size Option: Select FIXED_LOTSIZE (default: 0.01) or UNFIXED_LOTSIZE (based on risk percentage).
- Initial Lot Size: Lot size for fixed lot option (default: 0.01).
- Risk Percentage: Percentage of account balance to risk for unfixed lot sizing (default: 1.0%).
- Risk Points: Points used to calculate lot size for unfixed option (default: 300).
- Base Magic Number: Starting magic number for trade tracking (default: 123456789).
- Maximum Initial Positions: Maximum number of active baskets (default: 1).
- Zone Target Points: Profit target for each basket in points (default: 600).
- Zone Size Points: Distance for recovery trades in points (default: 300).
- Enable Trailing Stop for Initial Positions: Enable/disable trailing stop for initial trades (default: true).
- Trailing Stop Points: Distance for trailing stop in points (default: 50).
- Minimum Profit Points to Start Trailing: Minimum profit to activate trailing stop (default: 50).
- RSI Timeframe: Timeframe for RSI indicator (default: current).
- RSI Period: RSI calculation period (default: 8).
- RSI Application Price: Price type for RSI (default: PRICE_CLOSE).
- Fast Envelopes Timeframe: Timeframe for fast Envelopes (default: current).
- Fast Envelopes Period: Period for fast Envelopes (default: 150).
- Fast Envelopes Deviation: Deviation for fast Envelopes (default: 0.1%).
- Slow Envelopes Timeframe: Timeframe for slow Envelopes (default: current).
- Slow Envelopes Period: Period for slow Envelopes (default: 95).
- Slow Envelopes Deviation: Deviation for slow Envelopes (default: 1.4%).
How It Works
The EA monitors price action on your chosen timeframe, using RSI (overbought at 70, oversold at 30) and dual Envelopes bands to identify high-probability entry points. A Sell basket opens when RSI crosses above 70 and price falls below the slow Envelopes lower band; a Buy basket opens when RSI crosses below 30 and price rises above the fast Envelopes upper band. Each basket targets a profit zone (default: 600 points). If price moves against the initial trade by the zone size (default: 300 points), a recovery trade is opened to balance the position. Trailing stops protect initial trades, and baskets close when the profit target is reached or recovery yields a net positive outcome.
Usage Tips
- Backtest Across Markets: Optimize settings on a demo account for your chosen instrument (e.g., forex, commodities, or stocks) to align with market dynamics.
- Adjust Risk Conservatively: Start with low risk settings (e.g., 1% risk) and adjust based on volatility and account size.
- Monitor Margin: Ensure sufficient margin for multiple baskets and recovery trades, especially in volatile markets.
- Stay Connected: Incase of anything, just reach out for support.
Disclaimer
The Envelopes RSI Zone Scalper MT5 EA is a versatile tool designed for trading any market on MetaTrader 5, offering significant profit potential but carrying substantial risks. The zone-based strategy with recovery trades can increase exposure during adverse price movements. While features like trailing stops and risk-based sizing provide protection, they do not eliminate the risk of loss, particularly with aggressive settings or insufficient capital. Always backtest and optimize on a demo account before live trading. Past performance is not indicative of future results. Trading involves risk, and losses may exceed your initial investment. Use with caution and ensure you understand the strategy’s implications. Happy trading!
