Hi, I need to have my trading strategy coded as an EA that can be used with Metatrader 5, simply via the EAs tab.
(You'll have to show me how to install the EA, once coded, on my platform, please).
My strategy is simple and therefore I imagine quick to code.
It's a classic buy and sell strategy using only the RSI indicator.
The RSI parameters are : A 2-period RSI with an overbought level of 95 and an oversold level of 5.
The conditions for opening buy and sell positions are :
For a buy position: The RSI, which was oversold ( < 5 ), exits the oversold position ( > 5 ). WAIT FOR THE CANDLE TO CLOSE, then enter the position directly at the opening of the next candle.
For a sell position: The RSI, which was overbought ( > 95 ), exits the overbought position ( < 95 ). WAIT FOR THE CANDLE TO CLOSE, then enter the position at the opening of the next candle.
The conditions for closing buy and sell positions are:
➜ Close trades as soon as the first candle closes in profit.
(Even if the gap between trade opening and closing is sometimes very small).
➜ OR when the stop loss is hit. The stop loss is defined in pips, its value must be modifiable in the parameters.
IMPORTANT :
☞ If a buy position is still open and a sell position is to be triggered, then ignore it and let the initial buy position continue. If it's another buy position that needs to be triggered, then it must be taken without cutting the one already in progress. Buy positions in this case can add up ad infinitum as long as they don't close with the closing conditions defined in the strategy.
☞ If a sell position is still open and a buy position should be triggered, then ignore it and let the initial sell position continue. If it's another sell position that needs to be triggered, then it must be taken without cutting the one already in progress. In this case, sell positions can be added to ad infinitum as long as they do not close under the closing conditions defined in the strategy.
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