RSI Robot 7
RSI Robot uses two RSI indicators - 14-day RSI and 3-day RSI. As soon as the two RSI Indicators cross each other, a buy or sell signal is created.
- RSI Robot is NOT a scalper.
- There is NO Martingale.
- There is NO grid or other risky methods.
- RSI Robot relies on the strength of the RSI indicator.
- RSI Robot was developed for M5, M15 and H4 charts and EURUSD pair.
Developed in 1978 by Welles Wilder, the Relative Strength Index (RSI) is an oscillating indicator with values ranging from 0-100%.
Wilder posited that when price moves up rapidly, it reaches a point where it is overbought (70%). Conversely, when price falls rapidly, it is considered oversold (30%). In either case, Wilder deemed a reaction or reversal imminent.
Relative Strength Index (RSI) is a measure of the stock’s recent trading strength, and the slope of the RSI is directly proportional to the velocity of a change in the trend. The distance traveled by the RSI is then proportional to the magnitude of the move.
It is also super easy to use. There are almost no settings to adjust or configurations to learn. Simply attach it to M5, M15 or H4 chart on EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, EURCHF and choose the correct property setting.
Please check the comments for property settings. They are quite self-explanatory.
- Use CCIfilter – enable/disable CCI
- UseACfilter – enable/disable AC
- UseMACDfilter – enable/disable MACD
- RecoveryMode – enable/disable recovery for losing trades
- SuspendTradingOnRecovery – enable/disable normal trading when recovery is enabled
- RecoveryLoss – amount of pips in loss to start recovery
- Lot – lot size when Money Management is disabled
- MM – enable/disable Money Management
- MaxLots – set the maximum lot size to trade when MM is enabled
- Risk – maximum percentage of balance to risk per trade
- LotsRiskReductor – if MM=true but Risk=0, the EA uses LotsRiskReductor percentage of free margin for each trade
- LotFactor – if a previous trade has brought losses, the next trade’s lot size is increased LotFactor times
- StopLoss – trade is closed when StopLoss is hit
- TakeProfit – trade is closed when TakeProfit is hit
- TrailingStop – trailing stop distance
- TrailingStopStart – profit in pips that turns the trailing stop function on
- TrailingStopStep – minimal change in pips for SL
- StealthMode – hides SL and TP from your broker
- GMToffset – converts the time of your server to the time of your broker
- Comments – enable/disable comments
- SendEmails – enable/disable emails
- Push – enable/disable push notifications
- Slippage – execute the price within a range of x pips from the requested entry price
- MagicNumber – order ID
- Comment – leave your comment