The Expert Advisor follows Puria trading method. RSI is used for sorting out signals. Also, the EA implements the averaging function.
- Three Moving Average (МА) indicators combined with Moving Averages Convergence/Divergence (MACD) provide market entry signals. Sell as soon as First MA crosses Second MA and Third MA below and confirmation from MACD arrives (one bar has closed below the zero level).
- The Relative Strength Index (RSI) indicator is used as the signal filter. If RSI is below 50, and three MAs combined with MACD provide a sell signal, a sell order is sent.
- Market movement direction change. In case the market changes direction after an order is opened, a new buy order is opened.
- Optimal profit level. In case more than one order is opened, the EA calculates the price level, after reaching which the profitable orders cover the unprofitable ones with a low profit percentage.
The following list describes the input parameters of the EA that can be modified and optimized:
- MAGIC (MAGIC number) - EA order ID;
- Trade (Trade) - if FALSE, the EA opens no new orders after all existing ones are closed by TP or SL;
- (ON Filter RSI) – if FALSE, RSI values are not taken into account;
- Lots (Initial Lot Size) - order volume;
- TakeProfit (Profit level (in points)) - take profit level;
- StopLoss (Loss level (in points)) - stop loss level;
- Step (Distance between orders (in points)) - minimum distance between orders;
- MaxOrders (Maximum number of open orders) - maximum number of opened orders.
You can also adjust the parameters of Moving Average, Moving Averages Convergence/Divergence and Relative Strength Index, such as period, price type, offset and MA method.