RSI_Expert - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources

Idea from : Alexey Cherbayev

MQL5 code author : Balabashka Kong

A simple Expert Advisor based on iRSI (Relative Strength Index, RSI).

The trading strategy is simple:

Lot size is fixed and set in parameters ( many ). You can also specify the desired Stop Loss , Take Profit and Trailing Stop .

During signal formation, the indicator can temporarily cross any level (upper or lower), so trading signals are checked at bar #1 and bar #2. Closing a position is a bit interesting - mainly closing a position when a contrary signal appears. Therefore, if there are open buy positions and a sell signal appears, all buy positions will be closed and a sell position will be opened.

You can try different values ​​for Stop Loss , Take Profit and Trailing Stop . A parameter can be disabled by setting its value to "0.0".

Attachment download

📎 rsi_expert.mq5 (38.37 KB)

Source: MQL5 #21759