HR RSI Scalper Free
The EA buys when RSI is overbought and sells when RSI is oversold with a 100 Point Profit Target and a 1000 Point Stop . If the result from the first trade is positive , the EA will open the next order in reverse , buying when the RSI is oversold and viceversa untill it gets a loss . If it gets a loss it reverses order direction again .
The "HR" from the name comes from "High Risk" because if it gets, a loss it will recover it by increasing Lot size with the help of the implemented Recovery Factor which is set to 12 to recover the 1000 Points lost .
The EA uses two levels of recovery , after which it does not increase lot size any more to prevent further losses .
For the full version of the product you may try the professional version here .
Pairs : GPB/USD , AUD/USD , USD/JPY ;
Timeframe : H1 ;
Minimum recomended Balance : 500 USD ;
Lots - set to 0.01; TakeProfit, set to 100 Points ; StoLoss ,set to 1000 Points ; TrailingStop set to 0 ;
ManageLot set to false , correctly calculated for accounts in USD ; RiskPercent ,set to 0.5 , not recomended to set above 1 ;
RecoveryFactor set to 12 ; RSIPeriod = 14 ; RSIUpperLevel and RSILowerLevel ; MagicNumber to differentiate from other EA's.
LotSize,TP,SL,TrailStop,LotManagement and Magic Number are fixed in the free version .