If you’re looking to up your trading game, this Expert Advisor (EA) leverages the Relative Strength Index (RSI) to pinpoint the best entry and exit points in the market. By analyzing the last BarsForCondition candles, it adapts to the current market conditions, helping you make informed decisions.
Entry and Exit Strategy
Entry: The EA opens trades based on signals from the RSI indicator.
- Buy: when RSI hits a minimum over the specified BarsForCondition bars.
- Sell: when RSI reaches a maximum over the specified BarsForCondition bars.
Exit: Positions are closed once they hit the Take Profit or Stop Loss levels, which you can set in points using the TakeProfit and StopLoss parameters.
Signal Filtering
- Time: This EA only trades within the time frame you set between StartTime and EndTime.
- News Avoidance: It avoids trading during specified periods that you can set in the NewsTimeToAvoid parameter.
- Spread: You can define the maximum spread allowed with the MaxSpread parameter.
Additional Settings
Martingale Strategy: This EA can implement a Martingale approach to boost the lot size during market reversals. Activate this feature using the Upheaval parameter along with the MartingaleMultiplier.
With the right settings, you can harness the power of RSI and Martingale to refine your trading strategy. Happy trading!
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