RSI Breakout - MetaTrader 4 Expert | Forex Indicator Download - MT4/MT5 Resources
OneStepRemoved.com MetaTrader Programming
RSI trend strategy is based on a simple EA trading indicator using RSI as a trading signal. When the RSI breaks above 73 or falls below 27, the Expert Advisor places an order to buy or sell the currency pair. Expert Advisors use ATR to set exit prices. When entering a trend, set a stop loss three ATR behind the entry price. When price moves in the trader's favor by more than three ATRs, the stop loss is set to break even. If the trade goes ahead, a trailing stop of three ATRs is used to eventually close the position.
Average True Range is a measure of volatility that more accurately measures volatility in markets that are prone to gaps, such as commodities and foreign exchange.
Attachment download
Source: MQL5 #10838
RSI Breakthrough - MetaTrader 4 Expert | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
This content can be used as a data entry for foreign exchange EA, indicators, trading systems or quantitative strategies. When reading, it is recommended to make a judgment based on the platform version, trading type, time period, risk control method and historical discussion background. Do not use it directly based on the title or a single point of view.
If the content involves MT4/MT5, ForexFactory, MQL source code, TradingView indicators or strategy discussions, you can give priority to the parameter logic, backtest environment, market stage, execution cost and failure conditions, and then decide whether to continue downloading, reviewing or secondary development.
Risk warning
For any EA, indicator or automatic trading strategy, it is recommended to first conduct historical backtesting, simulation account verification and small capital testing. Grid, Martin, high frequency, recovery and examination strategies especially require setting the account risk upper limit, single variety risk upper limit and manual deactivation conditions.
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