This advisor uses the Relative Strength Index (RSI) indicator and performs an adaptive search for minimums and maximums to identify the best entry and exit points in the market. It analyzes the most recent BarsForCondition candles to assess the current market condition.
Entry and Exit Strategy
Entry: The advisor opens a position based on signals from the RSI indicator.
- – Buy: if RSI reaches a minimum over the specified `BarsForCondition` bars.
- – Sell: if RSI reaches a maximum over the specified `BarsForCondition` bars.
Exit: Positions are closed upon reaching TakeProfit or StopLoss levels, which are set in points via the `TakeProfit` and `StopLoss` parameters.
Signal Filtering
- Time: The advisor trades only within the time interval specified between `StartTime` and `EndTime`.
- News Avoidance: The advisor avoids trading during time periods specified in the `NewsTimeToAvoid` parameter.
- Spread: Maximum allowable spread values are set through the `MaxSpread` parameter.
Additional Settings
Martingale: The advisor can employ a martingale strategy to increase the lot size during market reversals. This feature is activated by the `Upheaval` parameter and the `MartingaleMultiplier`.
Free download RSI Martingale EA
Yanis MC (verified owner) –
It’s working very well in demo account, good job