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REGISTER PARTICIPANTS Expert Bts Rsi High Low Mt4

Discussion in 'Forex Market MQL5' started by James Goldman, Sep 9, 2020.

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  1. James Goldman

    James Goldman Moderator
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    #btsrsihighlow

    bts-rsi-high-low-logo-200x200-2899.png

    This EA adopts the RSI indicator to monitor price movements and trades accordingly. It can be used for any currency pair and for any timeframe.

    Strategy 1
    • Long Entry Rule: When RSI has crossed low_level downwards, reached lower_level, and then crossed back up through low_level.
    • Short Entry Rule: When RSI has crossed high_level upwards, reached higher_level, and then crossed back down through high_level.
    • Exit Rules: Close a trade when RSI reaches the opposite side (high_level for long order, low_level for short order).
    Strategy 2
    Set low_level=lower_level and high_level=higher_level.

    • Long Entry Rule: When RSI has crossed low_level downwards, formed a bottom, and then crossed back up through low_level.
    • Short Entry Rule: When RSI has crossed high_level upwards, formed a peak, and then crossed back down through high_level.
    • Exit Rules: Close a trade when RSI reaches the opposite side (high_level for long order, low_level for short order).
    Default settings use RSI(14) on closing prices, higher_level=70, high_level=70, low_level=30, lower_level=30. These settings are not recommended for all pairs and timeframes. The trader might need to optimize the inputs for desired profitability.

    bts-rsi-high-low-screen-1146.png

     
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