EA baised on RSI

Pleaser read carefully before apply  this EA have maby options and parameters if you didnt read carfully you only will only waste your time 

if you have any qusetion please ask before we start 

this EA based on RSI (on meta trader 4)

Main parameters:

-          RSI level for buy

-          Level 2 for buy

-          RSI level for sell

-          Level 2 for sell

Position direction:

I want to have option for position direction

For example, if RSI reach 40 buy or if it reaches 40 sells

So here we have parameter for normal or revers

Support trade:

Option if I want to open second position (yes / no)

RSI level (one for buy positions and one for sell positions)

Minimum points (minimum distance between first position and second one)

Position size (compare to the first one) (50%, 100%, 200%)

Filters:

Confirmation: number for bars to confirm the break (for example 2 bars below 31 to buy)

Time:

Start time for trading

End time for trading

After time end the EA should only try to deal the opened position but not open with new signal

Trading management:

- I want to use Multiples in position size in this way:

I if I chose starting position 0.1

If the RSI give signal to change direction it will close all open positions and open 0.2 in the new direction

So, I want choice for the multiplayer factor (for example 2 or 1.5)

-          Also, other option to reverse the trade as soon as Stop loss activated

-          Maximum trade on same side (for example if the buy position close on TP for the and RSI still indicate buy signal – above the level – it can open other one if I but 2 in this option but it stops trading if I but 1 and wait until the RSI give signal to sell)

Take profit:

In points (if there are more than one position open so the TP will be Break-even price + TP point and close it all at once)

Stop loss:

-          Can be fixed number (xx point)

-           no stop loss only close if the RSI give signal for direction change so it will close the position and open new one in the new direction (I want option for both)

Money management:

1-      Balance limit:

Stop trading if the balance reaches certain level (min and max)

2-      Daily profit target (stop until next day)

 by points

by dollar

The trading will be in this method:

Example:

RSI break 40 and stayed 3 bars below 40 So this is sell signal it will open sell 0.1 lot

This trade close on TP and RSI still didn’t give buy signal (which it 3 bars above 60) so it will open another sell position 0.1 lot (because trades on same side still didn’t reach the limit)

Let say now the price move against the trade and reach level 2 (RSI 50 ) so it will open another sell position , now the RSI  give buy signal and we still have two sell positions so at will close it all and make buy trade ( the size is to total of the closed positions multiply with the number in the options )  

Other example:  if EA open Buy 0.2 lot and the RSI give sell signal before the trade close the EA will close it and make new trade (sell 0.4 lot) and so on

·         All orders are market order no pending orders

·         Expect few modifications after testing the EA I may add miner options so adjust the trading rules