RSI_MAonRSI_Filling Step EA - MetaTrader 5 Expert

trading strategy

The EA uses the custom indicator RSI_MAonRSI_Filling - the signal is the intersection of two indicator lines. The indicator is created within the specified time frame ' Working Time Frame ' - the same time frame is used to determine the moment of birth of a new bar (if necessary with the parameters 'Trailing... ' and ' Search Signal... ').

We are waiting for the lines to cross ("RSI" and "MAonRSI"). If the cross line is below the "50.0" line, it is a signal to open a "buy" position, and if the cross line is above the "50.0" line, it is a signal to open a "buy" position. The "50.0" line is a signal to open a "sell" position. Before opening a position, we check the distance between the price and the nearest position (parameter ' position step ').

rice. 1.RSI_MAonRSI_fill step EA

Now take a closer look at each set of parameters:

Transaction settings:

' Working time range ' - Working time range. Time range for creating the indicator and searching for new bars. Stop loss, take profit and trail setting points . Any parameter (' Stop Loss ', ' Take Profit ', ' Trail Stop ') can be disabled - to do this, set the selected parameter to "0.0". The trailing stop code works as shown in the image below.

Position size management (lot calculation)

The lot can be permanent (' Money Management ' is set to ' Constant Lots ' and lot size is set to ' Value of 'Money Management' ') and dynamic - risk percentage per trade (' Money Management ' is set to ' Trade Risk Percent ' and set risk percentage in 'Value of 'Money Management' '). You can also set a constant lot size equal to the minimum lot size - ' Money Management ' is set to ' Min Lot Size '.

Additional features:

Flag ' Positions: Only 1 ' set to ' True ' allows the EA to hold no more than one position on the market.

Warning: ' Positions: Only 1 ' set to ' True ' does not override ' Positions: Near Opposite ' set to ' True '! In other words: the opposite position will be closed first

Flag ' Position: Reverse ' is responsible for signal reversal. An interesting flag ' Position: Near Opposite ' - when set to ' True ' ensures removal of the opposite position before opening it. ' Print log ' Prints an extended log of all operations. The ' Freeze and stop levels coefficient ' parameter sets the coefficient for the stop and freeze levels when these levels of the symbol are equal to zero. The recommended value is "3".

Attachment download

📎 rsi_maonrsi_filling_step_ea.mq5 (128.76 KB)

📎rsi_maonrsi_filling.mq5 (22.01 KB)

Source: MQL5 #38811