Expert Advisor User Manual
Thank you for choosing to use our expert advisor. We hope it enhances your trading experience and brings you closer to your goals. This manual will guide you through the settings and functionalities of the RSI GridMaster EA, helping you make the most of its features. If you have any questions, feel free to contact us.
Product page: MT5 version MT4 version
1. Attach the Expert Advisor to a Chart:
o In the Navigator window, locate your Expert Advisor under Expert Advisors.
o Drag and drop the Expert Advisor onto the chart of the currency pair or asset you wish to trade.
2. Enable Algo Trading:
o Make sure the AutoTrading button on the toolbar is enabled (green).
o When you attach the EA to the chart, ensure that the Allow algo trading checkbox is ticked in the settings.
3. Check and Adjust Settings:
o Review the Expert Advisor settings to ensure they align with your trading strategy.
o Adjust any parameters as necessary before starting.
Once the installation is complete, you can start configuring the settings for optimal performance. Here’s a step-by-step guide to help you get started:
o EA NAME = “RSI GridMaster”: The text provided here will appear in the comments.
o Signal Settings
RSI Period = 18: Sets the period for the RSI indicator.
RSI Oversold First Trade = 29.0: When the RSI value falls below this threshold, the EA will open a buy order for the first trade.
RSI Overbought First Trade = 71.0: When the RSI value rises above this threshold, the EA will open a sell order for the first trade.
RSI Oversold Grid = 30.0: This value determines when the EA will open additional buy orders.
RSI Overbought Grid = 70.0: This value determines when the EA will open additional sell orders.
Signal Timeframe = PERIOD_H1: Sets the timeframe on which the RSI indicator operates.
o Risk Management
Auto Lot = false: Enables automatic lot sizing based on the account balance.
Risk Level = 1.0: The lot size is automatically adjusted according to the account balance. With a value of 1, the lot size will be 0.01 for every $1,000 in balance (e.g., 0.03 for $3,000). A value of 3 will make the lot size 0.03 for every $1,000 in balance.
Volume Upper Limit = 0.0: Sets the maximum allowable lot size.
Fix Lot = 0.01: If the auto lot function is disabled, this lot size will be used.
Maximum Open Trade = 14: Limits the number of open positions. The EA will not open additional orders once this number is reached.
Cut Loss = false: If enabled, the EA will close all positions if the account balance loss reaches a specified percentage.
Cut Loss Balance Percentage = 30.0: Specifies the percentage of balance loss at which all positions will be closed.
o Trading Settings
Profit in Pips = 30.0: If the total profit from open positions reaches 30 pips, all trades will be closed.
Minimum Grid Distance in Pips = 30.0: New orders will not open if the distance between them is less than this value. If it exceeds this value, new orders will open based on RSI signals.
Fix Distance Grid = false: If enabled, new orders will always open at the specified minimum pip distance.
Spread Filter = 5.0: No new orders will be placed if the spread is equal to or greater than this value.
Buy Orders = true: Allows enabling or disabling buy orders. This can be useful during strong downward trends or to avoid negative swap costs.
Sell Orders = true: Allows enabling or disabling sell orders.
Trailing Stop First Order = false: Can be used for scalping on lower timeframes. It remains active while only one position is open, protecting profit with a trailing stop.
Trailing Start = 10.0: The trailing stop activates once the profit reaches the specified pip distance.
Trailing Stop = 5.0: The trailing stop follows the price at this pip distance.
Trailing Step = 1.0: Specifies the step size for the trailing stop.
Martingale = false: Enables the martingale feature.
Multiply Lots = 2.0: Sets the lot multiplier. Each new position will have its size multiplied by this factor.
Martingale Upper Limit = 0.0: Specifies the maximum lot size for orders using the martingale strategy.
Martingale Profit Percentage = 0.3: Defines the profit target in percentage of the balance for closing trades when using the martingale strategy. For instance, a value of 0.3 with a $1,000 balance will close trades at $3 profit, while with $3,000 and a value of 0.5, it will close at $15 profit.
Martingale Fix Profit = false: Allows setting a fixed monetary amount for closing martingale positions.
Martingale Profit = 30.0: Closes all positions when the average profit reaches this amount (in the account currency).
o Time Filter
Time Filter = true: Enables or disables the time filter. The filter is based on the server time.
Monday = true: Allows enabling or disabling trading for individual days. The filter only restricts the first trade, subsequent trades are not affected.
Monday Start = “07:00”: Trading is allowed starting from this time.
Monday End = “20:59”: Trading is allowed until this time.
Tuesday = true
Tuesday Start = “07:00”
Tuesday End = “20:59”
Wednesday = true
Wednesday Start = “07:00”
Wednesday End = “20:59”
Thursday = true
Thursday Start = “07:00”
Thursday End = “20:59”
Friday = true
Friday Start = “07:00”
Friday End = “12:59”
o Magic Number
MagicStart = 3718: Allows modification of the magic number to identify trades opened by the EA.
Recommendation:
Before using the expert on a live account, test your settings in the strategy tester and on a demo account to understand how the system operates. This way, you can make any necessary adjustments and gain confidence in the settings.
If you have any questions or need further assistance, please don’t hesitate to reach out. You can find our contact information here. We are always happy to help!
Successful trading!