Idea by jirimac
mq5 code author - barabashkakvn
The jMaster RSI is an Expert Advisor designed for MetaTrader 5, built on the robust RSI Custom Smoothing indicator. Before sending out a trading signal, it performs a regression analysis, ensuring you're making informed decisions.
When it comes to trailing stops, jMaster RSI offers three options:
- By Pips Mode: This is your standard trailing stop that follows the price movement.
- By Highest/Lowest of Range of Bars: Here, the Stop Loss is determined by the highest or lowest price within a set number of bars.
- By High/Low of Bar x: This option uses the highest or lowest price of the Nth bar for your Stop Loss calculation.
On top of that, you can customize your Stop Loss and Take Profit settings with three different methods:
- By Pips Mode: This is a straightforward approach, using regular Stop Loss and Take Profit levels.
- By Highest/Lowest of Range of Bars: Just like before, these levels are calculated based on the highest or lowest prices within N bars.
- By High/Low of Bar x: Again, this relies on the highest or lowest price of the Nth bar for both Stop Loss and Take Profit calculations.
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