Author: Mohammad Soubra
Hey fellow traders! Today, I want to share a straightforward code example for automating your trading using the RSI (Relative Strength Index) on MetaTrader 4. If you're looking to take your trading to the next level with a simple yet effective strategy, this one's for you!
- Open a Buy: When RSI 14 (based on closing price) drops below 25.
- Close the Buy: When RSI 14 rises above 50.
- Open a Sell: When RSI 14 climbs above 75.
- Close the Sell: When RSI 14 falls below 50.
This setup also includes a trailing stop, along with fixed take profit (TP) and stop loss (SL) levels to help manage your trades effectively!
Give this strategy a whirl and see how it works for you. Remember, the key to successful trading is not just about having the right tools, but also about being disciplined and sticking to your strategy. Happy trading!
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