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RSI EA
The RSI EA should place trades once it goes through the RSI buy or sell levels from inside the lines only. For example is the buy level for the RSI is 30 the it will only place buy trades then the previous number is more then 30. If it's coming back through from levels 29 or lower one it hits 30 again it doesn't place another buy trade. Same goes for the sell side, if the level of 70 the from 69 then it hits 70 a sell order is placed, but from 71 down to 70, nothing is done.
The system will place additional orders only if it meets 2 condition: 1 the RSI level is hit again from the inside out again as explained above, and the trades is meets the designated "DISTANCE AWAY FROM PREVIOUS TRADE IN PIPS" value(input 18). For example if the DISTANCE AWAY FROM PREVIOUS TRADE IN PIPS VALUE is 100 and the value of the eur/usd is 1.22000 when the RSI level reaches 70 then it places the first trade. If the 70 level is hit again and the previous trade is still in then it will only place the trade is the eur/usd paid is at 1.22100 or higher. If not no trade is placed and it proceeds to trade with just the one order. this same protocol is to be followed for each additional trade that is entered. It has to meet both the RSI and previous trade distance criteria.
The subsequent trades will follow the MARTINGALE(input 2) or the lot increase rule. But instead of increasing the value of the lots, we would like the number of trades to be increased to correlate with the martingale or lot increase values. Example. If the Lot Size is 1 and conditions are meet for 4 more trades under Martingale the number of 1 lot trades will be 2, 4, and 8 trades. they don't all have to be at the same value. The same goes with the lot increase amount. If the lot size is 1 and the lot increase amount is 2 then each time the conditions are meet it will place 2 trades at 1 lot for the second trades, 4 trades at 1 lot for the third trade and 6 trades at 1 lot each for the forth trade.
The last inputs I'll explain are 9 and 10(TAKE PROFIT PER SIDE IN $). If this option is set to true then the buy side and sell side trades are calculated separately. Once the input dollar amount is reached for 1 sided then it just closes out that side trades and the opposite sides keeps trading until it also reached the input $ amount. This rule also goes with the TAKE PROFIT PER SIDE BASED ON AN INCREASE IN % OF EQUITY.
INPUTS:
1. LOT SIZE VALUE2. MARTINGALE: TRUE/FALSE
3. LOT INCREASE: TRUE/FALSE
4. LOT INCREASE AMOUNT VALUE
5. TOTAL TAKE PROFIT FOR THIS PAIR IN $: TRUE/FALSE
6. TOTAL TAKE PROFIT FOR THIS PAIR IN $ VALUE
7. TOTAL TAKE PROFIT FOR THIS PAIR IN EQUITY %: TRUE/FALSE
8. TOTAL TAKE PROFIT FOR THIS PAIR IN EQUITY % VALUE
9. TAKE PROFIT PER TRADE IN $: TRUE/FALSE
10. TAKE PROFIT PER TRADE AMOUNT IN $ VALUE
11. TAKE PROFIT PER TRADE IN PIPS: TRUE/FALSE
12. TAKE PROFIT PER TRADE AMOUNT IN PIPS VALUE
13. TAKE PROFIT PER SIDE IN $: TRUE/FALSE
14. TAKE PROFIT PER SIDE AMOUNT IN $ VALUE
15. TAKE PROFIT PER SIDE BASED ON AN INCREASE IN % OF EQUITY: TRUE/FALSE
16. TAKE PROFIT PER SIDE BASED ON AN INCREASE IN % OF EQUITY VALUE
17. STOP LOSS IN PIPS: TRUE/FALSE
18. STOP LOSS IN PIPS AMOUNT VALUE
19. STOP LOSS IN $ PER TRADE: TRUE/FALSE
20. STOP LOSS IN $ PER TRADE AMOUNT VALUE
21. STOP LOSS IN $ PER SIDE: TRUE/FALSE
22. STOP LOSS IN $ PER SIDE AMOUNT VALUE
23. DISTANCE AWAY FROM PREVIOUS TRADE IN PIPS: TRUE/FALSE
24. DISTANCE AWAY FROM PREVIOUS TRADE IN PIPS VALUE
25. MAGIC NUMBER
RSI INDICATOR INPUTS
26. RSI PERIOD: VALUE27. RSI BUY LEVEL: VALUE
28. RSI SELL LEVEL: VALUE
Can you also add BUY SIDE P/L AND SELL SIDE P/L to an on chart info display.
let me know if you have any questions.