If you're looking to enhance your trading strategy, the RSI Slowdown indicator could be your new best friend. This trading system generates signals right at the close of a bar whenever a colored indicator arrow pops up, making it easier to spot potential trading opportunities.
To get started with this Expert Advisor, you'll need the compiled indicator file, RSI_Slowdown.ex5. Make sure to drop it into your terminal's data folder at MQL5\Indicators.
One of the great features of this EA is its compatibility with brokers that offer a nonzero spread. Plus, it allows you to set your Stop Loss and Take Profit right when you open a trade. If you're interested in exploring more options, check out the Trade Algorithms library for additional variants.
For the tests shown below, we used the default input parameters for the Expert Advisor. Notably, Stop Loss and Take Profit were not utilized during these tests.
Fig. 1. Examples of deals on the chart
Here are the testing results from 2015 on the GBPJPY H6:
Fig. 2. Chart of testing results
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