Turnaround Technique
- Experts
- Razvan-andrei Tomegea
- Version: 1.0
- Activations: 10
Introducing the Turnaround Technique EA, a powerful trading tool designed for traders seeking to identify and capitalize on market reversals using the Relative Strength Index (RSI) and the Money Flow Index (MFI). This strategy is ideal for both novice and experienced traders looking to enhance their trading performance with a straightforward yet effective approach.
By applying the strategy across multiple markets, traders can diversify their portfolio and take advantage of opportunities in different sectors.
Check out the live signal here: https://www.mql5.com/en/signals/2258612
Strategy Overview
The RSI & MFI Trend Reversal Strategy focuses on detecting overbought and oversold conditions in the market to signal potential reversals. This approach is effective in identifying trend changes in a wide range of markets, including:
- Forex: GBPUSD, USDCAD, AUDUSD, AUDCAD, EURUSD;
- Cryptocurrencies: BTCUSD;
- Indices: US30;
- Commodities: XAUUSD.
Note: Only GBPUSD has been optimized and has set files ready. More pairs coming soon.
You can find the set files here: https://drive.google.com/drive/folders/1z_WZnWdjKDdxEAHerWtnNu0_IdujqDgO?usp=sharing
How to use
- Broker: Pepperstone or any Raw Spread/Low Spread/Razor account;
- Minimum leverage: 30x;
- Minimum account size: 1000 USD;
- Account currency: any.
Parameter description
- TIMEFRAME (int): The time frame for which the EA will analyze market data;
- EXPERT_MAGIC (int): A unique identifier for the EA's trades. This magic number helps distinguish trades opened by this EA from those opened by other EAs or manually;
- ONLY_LONGS (bool): If set to true , the EA will only open long (buy) positions and will not open short (sell) positions;
- ONLY_SHORTS (bool): If set to true , the EA will only open short (sell) positions and will not open long (buy) positions;
- BOTH_DIRECTIONS (bool): If set to true , the EA is allowed to open both long and short positions at once if conditions are met;
- USE_RSI (bool): If set to true , the EA will use the Relative Strength Index (RSI) for its trading decisions;
- TOP_RSI (int): The upper threshold for the RSI indicator. When the RSI exceeds this value, it may indicate overbought conditions;
- BOTTOM_RSI (int): The lower threshold for the RSI indicator. When the RSI falls below this value, it may indicate oversold conditions;
- EXIT_RSI (bool): If set to true , the EA will use RSI levels to determine exit points for trades;
- TOP_RSI_EXIT (int): The upper RSI level at which the EA will consider exiting long positions;
- BOTTOM_RSI_EXIT (int): The lower RSI level at which the EA will consider exiting short positions.
- TOP_RSI_REVERSAL (int): The RSI level that indicates a potential reversal point for short positions;
- BOTTOM_RSI_REVERSAL (int): The RSI level that indicates a potential reversal point for long positions;
- USE_MFI (bool): If set to true , the EA will use the Money Flow Index (MFI) for its trading decisions;
- TOP_MFI (int): The upper threshold for the MFI indicator, indicating overbought conditions;
- BOTTOM_MFI (int): The lower threshold for the MFI indicator, indicating oversold conditions;
- EXIT_MFI (bool): If set to true , the EA will use MFI levels to determine exit points for trades.
- TOP_MFI_EXIT (int): The upper MFI level at which the EA will consider exiting long positions;
- BOTTOM_MFI_EXIT (int): The lower MFI level at which the EA will consider exiting short positions;
- TOP_MFI_REVERSAL (int): The MFI level that indicates a potential reversal point for short positions;
- BOTTOM_MFI_REVERSAL (int): The MFI level that indicates a potential reversal point for long positions;
- EXIT_WHEN_PROFIT (bool): If set to true , the EA will exit positions when they reach a certain profit level;
- EXIT_AT_FIBONACCI (bool): If set to true , the EA will consider Fibonacci retracement levels for exiting trades;
- WAIT_FOR_REVERSAL (bool): If set to true , the EA will wait for a reversal signal before entering trades;
- USE_COMBINED (bool): If set to true , the EA will use a combination of indicators (RSI and MFI) for making trading decisions;
- USE_HEIKIN_ASHI (bool): If set to true , the EA will use Heikin Ashi candles for analysis instead of regular candles;
- CHECK_STRONG_HEIKINASHI (bool): If set to true , the EA will check for strong Heikin Ashi signals before entering trades;
- USE_REGULAR_CANDLES (bool): If set to true , the EA will use regular candlestick patterns for analysis;
- CHECK_STRONG_CANDLES (bool): If set to true , the EA will check for strong regular candle signals before entering trades;
- MAX_PAIRS (int): The maximum number of currency pairs that the EA can trade simultaneously;
- RISK (double): The risk percentage per trade, which helps determine position sizing based on account balance;
- LOTS (double): The fixed lot size for trades. If set to 0 , the EA will calculate lot sizes based on the risk parameter.
Trading disclosure
Trading foreign exchange (forex), contracts for difference (CFDs), or other financial instruments carries a high level of risk and may not be suitable for everyone. Past performance is not indicative of future results. You should carefully consider your financial objectives, level of experience, and risk appetite before entering the forex or CFD market.The vast majority of individual traders lose money in these markets. Leverage can work against you as well as for you, leading to large losses that exceed your initial investment. Be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.No representation or guarantee is made that you will achieve profits or avoid losses using the strategies, systems, or information provided on this site. If you engage in trading, you do so entirely at your own risk.
EA with a very interesting idea. I recommend trying it