RSI OverBought OverSold EA MT5

Relative Strength Index(RSI) Strategy EA MT5

Welcome to the RSI Trader EA, an advanced tool designed exclusively for MetaTrader 5. This expert advisor streamlines trading activities by harnessing the power of the Relative Strength Index (RSI) indicator, automating trade entries and exits based on overbought and oversold conditions. The EA also facilitates reverse trading setups within these zones, offering a versatile approach to managing trades.

For detailed documentation  General Settings/Input Guide |  Indicator Settings/Input Guide  | Backtests and Set files 

You can find MT4 version here

High Level Overview of Features

Implements a robust, backtested trading strategy.

Supports multiple timeframes and multi-currency trading.

Allows for customizable parameters like lot sizes, indicators, and entry/exit criteria.

Offers clear Stop-Loss and Take-Profit settings.

Includes trailing stops to secure profits.

Uses position sizing to manage overall risk.

Has drawdown protection and spread/slippage filters.

Provides multiple entry methods (breakouts, reversals, trend-following).

Offers flexible exit rules (indicator-based, time-based, or profit-based).

Executes trades quickly with minimal delay.

Uses efficient, non-lagging indicators.

Consumes low system resources.

Delivers on-screen pop-ups and audio alerts.

Sends email or push notifications.

Adjustable input parameters and filters (time of day, sessions, day-of-week).

Modifiable indicator thresholds and conditions.

Adapts to various market conditions.

Supports historical data testing for performance validation.

Allows parameter optimization to find the best settings.

Displays a real-time dashboard of open trades, account equity, and system metrics.

Presents intuitive and well-organized input menus.

Offers clear documentation and user guides.

Incorporates slippage and spread controls.

Implements error-handling and logging.

Provides daily, weekly, and monthly trade summaries.

Tracks metrics like maximum drawdown, win rate, and profit factor.

Works seamlessly on MT4/MT5 platforms.

Receives regular updates and improvements.

Maintains reliable performance and stable operations over time.

Usage Recommendations:

Prior to deploying in live markets, thorough testing in a demo account is strongly advised. This ensures a comprehensive evaluation of the EA's performance, its alignment with your trading strategy, and an assessment of risk tolerance levels.