VR Rsi Robot is a multi-timeframe trading strategy - MetaTrader 4 Expert - MT4/MT5 Resource

The conditions for entering the transaction are strictly regulated. For buying, it is required that on H1 and D1, the RSI value (based on completed candles) is above the oversold level (default 20), and the current RSI value is greater than the previous value, indicating the presence of an upward impulse. For selling, similarly: the RSI on both timeframes must be below the overbought level (80), and the current value must be smaller than the previous value, indicating a price decline. Using a full bar eliminates the repaint effect since the signal is formed after the candle has completed its formation.

Position management is implemented on a "one position per instrument" basis. Experts monitor open orders by their magic number. If a buy signal occurs when a sell position is opened, the sell position is closed and a buy position is opened. The same logic applies to sell signals. Therefore, the robot always either exits the market or is in a position in which the direction coincides with the recently generated signal.

An important feature is the automatic adjustment of trading volumes based on the broker's requirements. During initialization, the robot rounds the specified batch to the nearest allowed number step and checks that it is not smaller than the allowed minimum. This ensures correct operation of any account. Overall, this strategy represents a simple and straightforward approach to RSI trading, based on confirming signals on longer time frames.

Attachment download

📎 VR_Rsi_Robot.mq4 (22.27 KB)

Source: MQL5 #70467