EA based on RSI

Hi,

Specifications EA

I have a trading strategy based on RSI and combined with a grid, that I would like to automise, basically:

1) Wait for RSI to fall below the lower RSI-Level on close of bar (RSI(0).

2) If at the close of the following bar RSI (RSI(1) is higher than on the previous bar (RSILow(1)>(RSILOW(0), send a market buy order.

3) Now price can go up, and I want to open a new market order x pips away from the previous order (this is kind of a grid, in order to ride a strong trend). Or price can go further down, so that the condition RSILow(1)>(RSILOW(0) is given again. In this case (when there exist an open order), only send a market buy order if the price ist at least X pips away from the open-price of the first order (again a grid in the opposite direction.

Once the first position is opened, instead of keeping watching the RSI for further entries, I think it would also be posible to simply define a set of buy limit and buy stop orders x pips from the initial order away.

These “Grid”-Trades should be optional.

4) Close condition of all orders: RSI-Level at close of a bar ist over the upper RSI-Level. In this case, delete all pending an open orders Optional: Leave orders that are not in profit open and just close orders in profit.

5) For sell orders just the other way round based on the upper RSI level.

6) EA has to be programmed in a way that backtesting on metatrader mql4 is posible.

Looking forward to your proposals

Regards

Daniel