AVT RSI EA
- Experts
- Andrey Tatarinov
- Version: 1.5
- Updated: 8 December 2023
- Activations: 15
The Expert Advisor is based on the classic indicator - Relative Strength Index (RSI)
3 strategies of work on this indicator have been implemented:
- Opening deals directly upon reaching overbought / oversold levels.
- Opening deals when a reversal pattern is formed on the indicator chart in overbought / oversold zones.
- Opening trades when the indicator value returns from the overbought / oversold zone.
The number of simultaneously open buy and sell orders is set separately. Thanks to this, you can only use the EA in the direction of the trend. The functions of money management, trailing stop, filter by moving average, withdrawal of an order to breakeven, notifications are also implemented. The EA automatically recognizes 4 and 5-digit quotes.
Description of parameters
Money management - parameters of money management
- UseMoneyManagement - use a fixed lot or percentage of the balance.
- Lot - lot size when FixedLot is selected
- Percent - the percentage for calculating the lot
- MaxBuyOrders - the maximum number of simultaneously open buy orders
- MaxSellOrders - the maximum number of simultaneously open sell orders
Takeprofit settings
TakeProfit - TakeProfit value in points
StopLoss - StopLoss value in points
Trailing settings - trailing stop parameters
- Trailing_Start - start of trailing
- Trailing_Distance - distance between SL and current price
- Trailing_Step - trailing step
- Trailing_Hidden - use hidden SL
BreakEven settings
- BreakEven - enable withdrawal to breakeven
- BreakEven_Profit - profit at which the order is transferred to breakeven
- BreakEven_Fix - the number of points to fix the profit
RSI settings - settings of the RSI indicator
- Strategy - choosing a strategy for working with the RSI indicator
- RSI_Period - period of the RSI indicator
- RSI_Overbought - overbought level of the RSI indicator
- RSI_Oversold - oversold level of the RSI indicator
- RSI_APPLIED_PRICE - the price used in the calculation of the indicator
- SendAlert - enable alert
- SendEMail - enable email notification
- SendPushNotification - enable push notification
Other settings
- MagicNumber - magic orders
- TradingTime - enable trading time
- StartTrading - start trading
- EndTrading - end of trade
- Use_MA_Filter - use a filter based on a moving average
- MA_Period - moving average period
I have downloaded this EA and did some extended backtesting in order to find the best setting for each currency pair. Then I switched to forward testing for two weeks with positive results. This EA works best if you trade in one direction only, as suggested by Andrey Tatarinov. For this it is advisable to use some Moving Average as filter. I am very satisfied with AVT RSI and can highly recommend this EA.