Link to download the EA: https://www.mql5.com/en/market/product/130270?source=Site+Market+Product+From+Author
RSI Strength MQL5 EA – Relative Strength Indicator Based Expert Advisor
This Expert Advisor (EA) is based on the Relative Strength Index (RSI).
It will use the RSI levels and the Period set to enter either a BUY or a SELL trade.
Based on the set parameters for RSI, for example;
Currency pair = GBPUSD
Currency Timeframe/Period = 15minOrder Send Parameters
- Lot Size = 0.01
- Take Profit = 30
- Stop Loss = 20
RSI Settings
- RSI Timeframe/Period: PERIOD_CURRENT (Leave on period current if you want it to use the current timeframe displayed on the current chart. Otherwise you can set a pre_defined timeframe on the dropdown if you wish.)
- RSI Period: 9
- RSI Type of Price or Handle: PRICE_CLOSE
- RSI Level High: 70
- RSI Level Low: 30
BUY Trade
The EA will execute a BUY trade when the RSI crosses above the pre-set Level Low.
- That is, the previous RSI Period was below Level Low (30), and the current RSI Period is above Level Low (30).
SELL Trade
The EA will execute a SELL trade when the RSI crosses below the pre-set Level High.
- That is, previous RSI Period was above Level High (70), and the current RSI Period is below Level High (70).
—
NB: The EA will apply and use the currency and timeframe based on the chart you place the EA on.
—
More info:
Website: https://financebeta.com/
Telegram Channel: https://t.me/FinanceBeta
Telegram Group Chat: https://t.me/joinchat/KOChvq5dglFmMmQ9
Twitter: https://twitter.com/FinanceBeta
Instagram: https://www.instagram.com/financebeta/
Facebook: https://web.facebook.com/FinanceBeta
