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I am looking for someone to code me a mtf rsi EA or utility that will continue to open a position whenever the TP is hit and stop the process when the RSI enters the opposite zone.
How it will work..First I will already have the EA or utility running on a chart before I open a position so let's say I open a BUY EURUSD with a TP of 10 pips and a SL of 20 pips when The TP is hit the EA opens another position automatically with a TP of xx pips and lot size of xxx( which I will explain later)as long as the RSI remain above 30.(initially the the EA will only open trades when the RSI is above 70) when the TP is hit it will continue to do so until the RSI drops below 30 then the sequence is done. Only the first position open by the robot that the RSI will still be above or below 70 after that it does not matter as long as the RSI is still above 30 to continue to buy) or below 70 and continue to sell) I cannot find a better way to explain this. I am using 70/30 as RSI levels as an example. The opposite is for sell condition, to continue to open sell position when the TP is hit until the RSI goes back above 70. Initially it will open the trades when the RSI is below 30 and a TP was hit in the first position
Secondly, incase I forgot the put the EA on a chart before I open any position, as soon as the EA is dropped on a chart, it will start working and waiting for when a TP is hit and the RSI is still above 70 or below 30 . The EA does does not open a trade unless a trade was previously opened by another EA or manually.
SETTINGS...RSI
USE CURRENT TF.. TRUE/FALSE.
USEM1 TRUE/FALSE
USE M5 TRUE/FALSE
USE M15 TRUE/FALSE
ETC .. ALL THE THE TIME FRAMES AVAILABLE ON MT4
Current time frame will use the values of the chart the EA was placed on. if EA is placed on a 30mins chart, it will use the rsi values of of ob/os for exits and entries of a 30mins chart NOTE: if more than one RSI TF is selected all must be in OB or OS territory for the EA to do it's job as compared to just using one RSI
Maximim Spread to open xx . If the spread is greater than this value then the EA will not open trade. I will manually input so leave blank as the default
USE TP True/FALSE default is TRUE
TP. 6
USE SL TRUE/FALSE default is FALSE.......Typically I will have an EA set a SL for any trades opened by another EA
SL 30
Use default lot size TRUE/FALSE( if set to false it will use the lot size of the last position that was closed which was opened manually or by another EA)
Default lot size is 0.25( can be changed manually)
RSI BUY level xxx default is 70
RSI SELL level xxx default is 30
RSI value xx default is 2
USE RSI based on current candle 1
use RSI based on closed candle 0
Default is 1
TRADES TO MANAGE
Manage all trades. EA will manage all trades opened manually or by other EA 1.... this is the Default set to TRUE
Manage only trades opened by manually T/F
Manage only trades opened by other EA automatically .T/F
for the last 2 the default is false
Magic #... so I can use different strategies
There are many MTF RSI available online I just have this on my computer so can adjust and make them work to my specification. I have sent 2 pictures explaining how the EA should work. Please read before bidding