All orders
Rules
Specification
A custom RSI indicator with standard functions such a:
- Being able to set up "apply to/length"
- Source of the Timeframe if possible
- RSI bands 70/30 or anything that can be manually setup
The RSI is ofcourse a standard RSI, but we need to make a modification that is not on MT4 - adding a moving average to the RSI itself too.
The moving average on the RSI must have the following settings too: MA type, MA Length, BB StdDev
We might be able to use the same source code that's on TradingView, as we need to exact same RSI with MA to work on MT4.
These are the things we need to do by making the customer RSI indicator.
Strategy:
After making the customer RSI indicator, the strategy would look like, Selling at RSI 70, Buying at 30,- but these alone are just the main idea around the details. When it comes to the details, we need the EA to ONLY Sell if the RSI is coming back, and closing below the 70 again + crossing the Moving Average. Once this happens, RSI coming back under 70, and closing below the Moving Average, the system is Ready to Sell.
Same thing happens on the RSI 30, when it Buys. First the RSI must go below 30, and after that it must close above the 30, and also cross Moving Average.
The trade management does not involve Grid/ Martingale. We only need to use a single SL, TP system that should be adjustable SL, TP.
Lot sizes should be set up two type of ways, a fixed lot size, or a compounding lot size, where the account grows, the Lot sizes will grow accordingly.
As a side note that can be really important to include into this EA is having a setup function to only BUY /SELL/BUY/SELL/BUY/SELL what this means it can't have two Sell positions after each other, and can't have two consecutive Buy positions after each other. It should Buy, Sell, Buy, Sell and so on.
Looking forward to work with a good developer on this project!
