RSI Tops and Bottoms

This EA uses the standard RSI indicator to place trades. The system will look at two factors before placing the trade or not placing a trade. For example: A1 and A2 below have to be meet before a trade is placed.

The systems has 4 scenarios to place trades:

A1 = Potential buy if RSI is coming from 69 and has gone up to 72

B1= Potential sell if RSI is coming from 71 and has gone down to 68

C1= Potential sell if RSI is coming from 31 and has gone down to 28

D1= Potential buy if RSI is coming from 29 and has gone up to 32

The trades are only placed after the following conditions are meet:

A2= the current market rate has to be higher than the previous market rate when RSI reached 72 from 69

B2= the current market rate has to be lower than the previous market rate when RSI reached 68 from 71

C2= the current market rate has to be lower than the previous market rate when RSI reached 28 from 31

D2= the current market rate has to be higher than the previous market rate when RSI reached 32 from 29

If the conditions above are not met then no trade is placed. It will now use the new current rate as the new level for the next potential trade that meets both criteria.

Examples: This is an A1 and A2 example.

·        A1- If the last closed candle that met our criteria for the eur/usd was 1.16000 when the RSI went from 69 to 72 and the current candle is at 1.16500 and the RSI has just hit 72+ from 69 then it will place a buy trade and now the 1.16500 rate becomes the new rate for next trade that meets the criteria.

·        A2- If the current candle is only at 1.15500 when the RSI is 72+ from 69, it is lower than the previous 1.16000 candle. No trade is places and now the 1.15500 rate becomes the new rate to be higher than for the next A1 trade.

This example goes for all the trade scenarios A1-D1.

Inputs:

* All the standard "RSI" Inputs

* A1 RSI Trigger: "default" 72

* B1 RSI Trigger: "default" 68

* C1 RSI Trigger: "default" 28

* D1 RSI Trigger: "default" 32

* Lot Size as $ amount: True/False

* Lot Size as $ amount: Value

* Lot Size as % of equity: True/False

* Lot Size as % of equity: Value

* Take Profit in Pips: True/False

* Take Profit in Pips: Value

* Take Profit in $: True/False

* Take Profit in $: Value

* Trailing Stop: True/False

* Trailing Stop: Value

* Stop loss in pips: True/False

* Stop loss in pips: Value

* Stop loss in $: True/False

* Stop loss in $: Value

* Magic Number: Value

Would like to see makers showing the entry and exit points of the trades, as well as an marker(arrows or whatever) showing when the RSI criteria was met. It can go above the by candles and below the sell candles.  If it didn't meet the criteria put an (x) or (*) symbol above or below the closed candle.

Would also like a information box upper right hand side of the chart that gives the Rates of the Previous closed candles that met the RSI levels for A2-D2.

Example:

A2: 1.51000

B2: 1.50000

C2: 1.47000

D2: 1.48000

Let me know if you have any questions or suggestions.

DaJuan