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Trade on qualified RSI - expert for MetaTrader 5
- Published by:
- Vladimir Karputov
- Views:
- 6640
- Rating:
- Published:
- 2017.03.22 16:35
- Updated:
- 2018.02.27 13:13
- Need a robot or indicator based on this code? Order it on Freelance Go to Freelance
Author of the idea — John Smith, author of the MQL5 code — barabashkakvn.
A trade strategy based on the RSI indicator. Checks if there is enough money before opening a position.
Initial check:
- to open BUY: RSI on bar "1" < 45
- to open SELL: RSI on bar "1" > 55
Confirmation of opening:
- to open BUY: RSI on bars from "2" to "2"+"CountBars" < 45
- to open SELL: RSI on bars from "2" to "2"+"CountBars" > 55
Position modification: uses the close price of the bar "1" as the basic value.
The EA shows the following results on H1 with default parameters:
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/17849
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