Forex Aurum RSI Scalper
Forex Aurum RSI Scalper is a trading bot that uses two strategies to proceed, the RSI indicator as a main strategy and martingale recovering strategy for the lost one. It is simple to use and is recommended for $EURUSD. It gives a very good result on a low spread broker (1 Minute time frame used).
Risks and recommendation
Since the EA uses Martingale, losses are recovered but very big losses may occur. We recommend trying it first on a demo account to recognize and understand the parameters first. Also, trade only the capital you are prepared to lose.
- AURUM_MAGICMA: Assign a number for the instance of the EA
- AURUM_SESSION: Select your preferred trading session values [ALL, LONDON, NEW YORK, TOKYO, SYDNEY]
- AURUM_LOT: 0.01 by default (NB since we use Martingale it's not recommended to increase)
- AURUM_MAX_LOST_ORDERS : Max successive losing order permitted to use martingale for recovering, default value is 10
- AURUM_RSI_HIGH: RSI high value to process SELL
- AURUM_RSI_LOW: RSI low value to process BUY
- AURUM_SHORT_TIMEFRAME : default value is PERIOD_CURRENT to launch the EA on the current time frame.
- AURUM_MAX_SPREAD: Assign the max spread you allow to open trade
- Aurum_TP_PIP: Assign Take Profit pips it's multiplied by 10
- Aurum_SL_PIP: Assign Stop Loss pips it's multiplied by 10
- AURUM_SLIPPAGE: Max Slippage
- Adding AURUM_SESSION Parameter: you can chose the trading session or select all to trade full time.
- Adding RSI_HIGH and RSI_LOW levels: you can choose high and low levels of RSI to process an order.
- Adding AURUM_MAX_SPREAD: in high volatility the spread goes high. You can set this parameter to stop trading while the spread is high.
- Adding Aurum_TP_PIP and Aurum_SL_PIP: set take profit and stop loss in pips. 1 represents 10 pips.
- Adding AURUL_LOT Parameter: it's not recommended to set it higher as we use martingale. 0.01 for balance less than $5000 is highly recommended.
- 0.01 lots orders
- 25 pips take profit
- 20 pips stop loss
Tested for the major currencies, you must have a minimum of 1000$