Author of the concept - Aleksey Cherbaev
Code creator - barabashkakvn
The RSI Expert Advisor (EA) kicks into action when a new bar forms on your chart. It consistently employs the iRSI indicator, while the use of iMA indicators hinges on the Trade on Moving Average setting:
- MA trade: Off - No Moving Average indicators are utilized.
- MA trade: Forward - This option involves the classic crossover strategy between two Moving Averages (Fast and Slow).
- MA trade: Reverse - This signals a reversal when the Fast and Slow Moving Averages intersect.
If you want to disable the stop loss (Stop Loss), take profit (Take Profit), or trailing stop (Trailing Stop), simply set the parameter to "0.0".
Managing Lot Size
You can choose to keep the lot size constant (by setting the Money management parameter to Constant lot) or make it dynamic, adjusting the risk percentage for each trade (by setting Money management to Risk in percent for a deal).
Additionally, this EA can be used in a netting environment, though be aware that results may vary significantly.
Comments 0