Hey traders! Today, I want to dive into the MQL5 Wizard MA RSI Expert Advisor (EA) that can really elevate your trading game on MetaTrader 5. This nifty tool is generated through the MQL5 Wizard, utilizing signals from the Moving Average (MA) and the Relative Strength Index (RSI). Let's get into how it works!
This EA operates exclusively at the start of a new bar.
Expert Advisor Inputs
- Expert Title: MQL5 Wizard MA RSI
- Expert Magic Number: 26774
- Every Tick Calculation: false
Input Parameters Explained
| Variable | Value | Disclaimer |
|---|---|---|
| Signal threshold to open [0...100] | 55 | This is the value to trigger an open position. |
| Signal threshold to close [0...100] | 100 | This is the value to trigger a close position. |
| Price level to execute a deal | 0.0 | Distance from current price. 0 means open at the current price. |
| Stop Loss level (in points) | 50.0 | Price level for Stop Loss. |
| Take Profit level (in points) | 50.0 | Price level for Take Profit. |
| Expiration of pending orders (in bars) | 4 | Lifetime of pending orders (in bars). |
| Moving Average Period of averaging | 20 | Period for MA calculation. |
| Moving Average Time shift | 3 | Horizontal shift of the MA indicator. |
| Moving Average Method of averaging | MODE_SMA | Type of smoothing for MA. |
| Moving Average Prices series | PRICE_CLOSE | Type of price for MA calculations. |
| Moving Average Weight [0...1.0] | 0.8 | Weight of MA signals. |
| Relative Strength Index Period of calculation | 3 | Period for RSI calculation. |
| Relative Strength Index Prices series | PRICE_CLOSE | Type of price for RSI calculations. |
| Relative Strength Index Weight [0...1.0] | 0.5 | Weight of RSI signals. |
Now, let's take a look at the testing results using EURUSD on the M15 timeframe from January 6, 2016, to January 27, 2017, with an initial deposit of $3,000:
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