Larry Conners RSI 2 - MetaTrader 5 Expert - MT4/MT5 Resources

This Expert Advisor uses three indicators: RSI (relative strength index), fast moving average (5 periods), slow moving average (200 periods).

The idea behind this strategy is to determine the overall trend by using a slow moving average (MA 200). Then buy on dips and sell on gains.

Long entry rules

long exit rules

Short entry rules

Short Exit Rules

input parameters

 Enter double batch = 1 ; //many
Input integer short SmaPeriods = 5 ; //fast MA period
Input integer long SmaPeriods = 200 ; //Slow MA period
Input integer RSIP period = 2 ; //RSI period
Enter integer RSI long entry = 6 ; //RSI long entry
Enter integer RSI short entry = 95 ; //RSI short entry

Enter Integer Slippage = 3 ; Enter Boolean Use Stop Loss = True ; // Use Stop Loss
Enter double stop loss points = 30 ; //Stop loss (points)
Enter Boolean value Use Take Profit = True ; //Use Take Profit
Enter double profit points = 60 ; // Take profit (points)

Best results on the 1 hour time frame for the EUR/USD currency pair. Use the input to find the results you want.

Attachment download

📎 larryconnersrsi2.mq5 (9.07 KB)

Source: MQL5 #19503