Expert Adviser based on RSI

RSI EA

The RSI indicator will consider three period that will be regulatable by the user.

Slow period                        e.g          15min

Middle period                    e.g          30min

Fast period                          e.g          1hr

CONDITIONS

Slow period RSI must be below level 40 for a SELL and above level 60 for a BUY

Middle period RSI must be below level 40 for a SELL and above level 60 for a BUY

Fast period RSI must cross below level 50 for a SELL and above level 50 for a BUY

ENTRY CONDITION

Regular entry

Once condition 1 and 2 meets and fast period is above level 50 take a BUY (one position only)

Once condition 1 and 2 meets and fast period is below level 50 take a SELL (one position only)

Intermediate Entry:

Add new SELL positions with same lot size every time the fast period RSI get above level 55 and return back to cross level 50 with the other two period still confirming strong sell i.e slow and middle RSI still below level 60.

Add new BUY positions with same lot size every time the fast period RSI get below level 45 and return back to above level 50 with the other two period still confirming strong BUY i.e slow and middle RSI still below above 60.

Aggressive Entry:

When all three entry conditions meet and a tread is taken, keep entering a new position with same lot size each time the fast period timeframe candle closes in affirmation of tread position and do not open position once the candle closes against the tread direction i.e

Take a SELL after every bearish candle (take no action once the candle is bullish)

Take a BUY after every bullish candle (take no action once the candle is bearish)