RSI_Expert - MetaTrader 5용 expert

Idea by: Aleksey Cherbaev

MQL5 code author: barabashkakvn

A simple Expert Advisor based on iRSI (Relative Strength Index, RSI).

The trading strategy is simple:

• A BUY position is opened at the intersection of RSI DOWN level from bottom up;
• A SELL position is opened at the intersection of RSI UP level downwards.

The lot size is fixed and is set in parameters (Lots). You can also specify the desired Stop Loss, Take Profit and Trailing Stop.

In the course of signal formation, the indicator can temporarily cross any of the levels (upper or lower), therefore the trading signal is checked at bar #1 and bar #2. Position closure is a bit more interesting - positions are mainly closed when an opposite signal appears. Accordingly, if there are open BUY positions and a SELL signal appears, all BUY positions will be closed and one SELL position will be opened.

You can try different values of Stop Loss, Take Profit and Trailing Stop. Parameters can be disabled by setting their values to "0.0".

USDJPY, M15: