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Advisor Based on RSI and Martingale - expert for MetaTrader 5

Yury Smagin
Views:
8083
Rating:
(5)
Published:
2023.09.12 13:46
Updated:
2023.10.14 20:22
Download as ZIP, How to download code from MetaEditor
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This advisor utilizes the RSI indicator and performs adaptive search for minimums and maximums to determine optimal entry and exit points in the market. The advisor analyzes the last `BarsForCondition` candles to gauge the current market condition.

Entry and Exit Strategy

Entry: The advisor opens a position based on signals from the RSI indicator.

  •   - Buy: if RSI reaches a minimum over the specified `BarsForCondition` bars.
  •   - Sell: if RSI reaches a maximum over the specified `BarsForCondition` bars. 

Exit: Positions are closed upon reaching TakeProfit or StopLoss levels, which are set in points via the `TakeProfit` and `StopLoss` parameters.

Signal Filtering

  • Time: The advisor trades only within the time interval specified between `StartTime` and `EndTime`.
  • News Avoidance: The advisor avoids trading during time periods specified in the `NewsTimeToAvoid` parameter.
  • Spread: Maximum allowable spread values are set through the `MaxSpread` parameter.

Additional Settings

Martingale: The advisor can employ a martingale strategy to increase the lot size during market reversals. This feature is activated by the `Upheaval` parameter and the `MartingaleMultiplier`.

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