RSI Martingale EA
Expert Advisor based on RSI indicator, the EA will open trades when reaches determined overbought and oversold levels, open martingale trades on loss and close all orders on average total profit.
Expert Advisor Features
- Option to change RSI indicator settings.
- Time filter option to choose trading hours.
- Option to change RSI overbought and oversold levels.
- Customize and set average profit by dollar or by pips or both.
How It Works
First, EA will wait for entry signal from RSI indicator, when RSI reaches overbought level EA will open sell trade, and when RSI reaches oversold level EA will open buy trade, if price goes againt entered trade EA will open martingale trades based on speicifed step pips and then close all trades on average profit.
- Martingale strategies is very profitable but also can be risky so use it wisley.
- To reduce martingale risks start with small lot size.
- Best trading hours for this strategy is Asian session and in low volatility markets.
RSI Martingale EA has some parameters so you can adjust it according to your needs, I'll explain it in details.
Max Opened Trades 0=disable
Max opened trades in the same time for buy trades and sell trades indivitually.
Enable Time Filter
option to enable trading only on speicified hours.
Start Trading Hour
speicifed start hour to start EA trading.
End Trading Hour
speicifed end hour to stop EA from trading.
RSI indicator period settings.
RSI OverSold/Buy Level
RSI level where EA will start buy trades.
RSI OverBought/Sell Level
RSI level where EA will start sell trades.
Multiply order lot by this number for martingale trades.
Number of pips between martingale trades.
Use Average TakeProfit, Average TakeProfit Pips
option to use average takeprofit pips for total buy/sell orders indivitually.
Close By USD Profit, Min USD Profit
option to close buy/sell trades indivitually based on total profit in USD.
Close By USD Loss, Max USD Loss
option to close buy/sell trades indivitually based on total loss in USD.
first order lot size.
enable set orders lot size based on account balance and available margin.
number of precent to risk from your balance to determine orders lot size.
orders magic number.
Show Trades Info Panel
option to show or hide trading panel from chart.
Version 1.0 09.08.2019
first initial version