The Hello Martin EA transfers the losing positions into profit with the help of averaging and uses the RSI indicator for entries.
The EA is designed for trading on a flat market, the corresponding currency pairs are selected specifically for this. The EA trades by market using the signals of the RSI indicator.
In the trend mode Reverse=1, if the price is above the overbought level of the RSI indicator, a buy order is placed, if the price is below the oversold level of the indicator, a sell order is placed.
In the flat mode Reverse=1, if the price is above the overbought level of the RSI indicator, a sell order is placed, if the price is below the oversold level of the indicator, a buy order is placed.
If the price goes the wrong way, an averaging order is placed after a specified distance Step, with the lot increased by the KLot coefficient up to the maximum lot of MaxLot, after that the lot is minimal again - Lots. Changing of the lot and step of the averaging orders works both towards increasing and decreasing.
The first and averaging orders are opened on a new candle with the consideration of the step between orders. The positions are closed by total stop loss or take profit common for all orders. For more efficient averaging the EA increases the lot and step of subsequent orders. The EA implements an automatic recalculation of settings from 4 digits to 5 digits.
The results of EA testing and optimization in the strategy tester
The EA is optimized on the interval 11.01.2015-11.01.2016. Symbol is EURNZD, timeframe is Н1.
Description of the EA settings:
- Lots - trading lot
- KLot - lot multiplication
- KStep - multiplication of order step
- MaxLot - maximum lot
- StopLoss - stop loss of order
- TakeProfit - take profit of order
- Reverse - change the trading direction
- Step - step between orders
- Slip - slippage
- RSIPer - RSI indicator period
- Level - RSI indicator level
- Magic - identification number of the EA