The RSI Signals Manager Expert Advisor trades the signals of the RSI indicator. Trades are performed in an appropriate direction when the indicator reaches the value of RSI_Level_Down or RSI_Level_Up. If the indicator exceeds RSI_Level_Up, Short direction is selected for initial trades. If the indicator falls below RSI_Level_Down, Long one is selected. If Inversion = true, the trades are opened in the reverse direction. Profitable trades are closed by take profit. Loss-making ones are averaged by the EA. An order grid is created in the same direction, a breakeven level is calculated, and the grid is closed by take profit when the price reaches it, also in the plus. The EA is fairly easy to optimize.
Parameters
- MAGICB – Long magic number.
- MAGICS – Short magic number.
Trading hours
- Hours_to_GMT_Offset – known server time shift hours (GMT).
- Hours – if true, the EA trades with a specified Begin_hour parameter (GMT) up to End_hour (GMT). If false, the EA trades constantly.
- Begin_hour – start hour (initial trades).
- End_hour – end hour (initial trades).
Initial conditions
- Inversion – inverse the direction of trades.
- Deals – number of initial trades opened simultaneously.
- NumbLot – the number of decimal places for the lot values.
- Lot – the initial lot value for trades.
- TP – take profit in points from the open price or breakeven level.
- SLPLUS – the total stop loss for the averaging grid.
- CoefLot – lot increase ratio when increasing the number of levels in the averaging grid. If set to 1, the lot size does not increase for the subsequent trades in the grid.
- RSI – RSI indicator period. If the indicator exceeds 70, Short direction is selected, if it falls below 30, Long one is used.
- RSI_Level_Up – level for opening the initial Short position.
- RSI_Level_Down – level for opening the initial Long position.
- Step – step (in points) between the averaging grid levels.
- OnOffUnLine – if true, the mode of uneven averaging grid step increase is activated.
- ULсoef – averaging grid step growth ratio.
- MinPauseNetUp – the minimum pause in minutes between any Long trades.
- MinPauseNetDown – the minimum pause in minutes between any Short trades.
Forced direction selection modes
- SELL – if true, SELL direction is allowed.
- BUY – if true, BUY direction is allowed.
TrailingStop and TrailingStep – trailing parameters.
The EA is fairly easy to optimize using the initial setting, and they allow you to set EA into different modes according to your objectives.