RSI and MA Channel | Foreign Exchange EA Download - MT4/MT5 Resources

Hi, this is something I've been focusing on for the past few weeks. It may need more tweaking, but I think the entry conditions are solid and very clear.

Sell ​​when the candle lines open outside the channel and close the inside channel between the outside bars (yellow)
and the middle dotted line (red), while the RSI (7)
Cross or below 30

SL is the high of the candle that closed within the channel

Set SL when price hits the MA center line (white line)
Or close half the order at this point and take profit when the price reaches the other side of the channel.

Buy the opposite

I'm attaching the template file:

SMA 150 (white) with levels of 500 and -500 (yellow) - 4 brokers using 50
SMA 149 (white) with levels of 250 and -250 (red dot) - use 25 for 4 digit brokers
RSI 7, levels 30 and 70

I'm currently running it on AUDUSD H1 and haven't spent much time on other currencies. Please feel free to explore.

October 8, 2012 - Seems to be generating false signals in a strong trending market - proceed with caution.