Introduction
The RSI Multi-Currency EA is an Expert Advisor designed to capture potential trend reversals and continuations using the Relative Strength Index (RSI). The RSI is a widely used momentum oscillator that measures the speed and change of price movements. This EA provides customizable RSI settings for entry and exit strategies, as well as advanced features like grid recovery, hedging, and martingale strategies, making it adaptable to various market conditions. Ideal for traders seeking flexibility and precise trade execution across multiple currency pairs.
Features Overview
Multi-Currency Trading
- Monitor and trade multiple currency pairs simultaneously.
- Example: EURUSD, GBPUSD, USDCHF.
RSI Strategy
- Entry and exit conditions are determined using customizable RSI parameters.
- Entry Strategies: Choose from various RSI-based entry rules to suit your trading approach.
- Exit Strategies: Select from multiple exit strategies, or disable automated exits entirely.
- You can find the detailed description for the different strategies here
Group Stop-Loss and Take-Profit
- Automatically close all trades if the combined profit or loss across all pairs meets predefined thresholds.
Recovery Strategies
- Grid Recovery: Adds trades in a grid pattern to recover losses.
- Hedge Strategy: Opens counter trades to manage risk.
- Martingale Strategy: Increases trade size progressively to recover losses.
Flexible Filters
- Day Filter: Enable or disable trading on specific weekdays.
- Time Filter: Define active trading hours to align with market conditions.
Position Sizing
- Dynamically calculate lot sizes based on risk or fixed lot settings.
Alerts and Notifications
- Receive notifications for important trading events via platform alerts or email.
Input Parameters
Core Indicator Settings
-
RSI Timeframe:
- Select the timeframe for RSI calculation.
- Default: PERIOD_CURRENT .
-
RSI Period:
- Defines the RSI period for calculation.
- Default: 14 .
-
RSI Applied Price:
- Determines the price type used for RSI calculation.
- Default: PRICE_CLOSE .
RSI Calculation Mode
-
Calculation Mode:
- MANUAL: Uses the specified upper and lower RSI levels.
- AUTO: Automatically calculates upper and lower levels based on the upper level input.
- Default: AUTO .
-
RSI Upper Level:
- Defines the upper level for RSI (e.g., Overbought zone).
- Default: 60 .
-
RSI Lower Level:
- Defines the lower level for RSI (e.g., Oversold zone).
- Default: 40 .
Entry Strategies (ENUM_ENTRY_STRATEGY)
Choose from the following entry strategies:
Exit Strategies (ENUM_EXIT_STRATEGY)
Choose from the following exit strategies:
-
EXIT_STRATEGY1:
- Buy Exit: RSI enters the overbought zone.
- Sell Exit: RSI enters the oversold zone.
-
EXIT_STRATEGY2:
- Buy Exit: RSI exits the overbought zone.
- Sell Exit: RSI exits the oversold zone.
-
EXIT_STRATEGY3:
- Buy Exit: RSI enters the oversold zone.
- Sell Exit: RSI enters the overbought zone.
-
EXIT_STRATEGY4:
- Buy Exit: RSI is above the upper level.
- Sell Exit: RSI is below the lower level.
-
EXIT_STRATEGY5:
Multi-Currency Settings
- Pairs:
- A comma-separated list of currency pairs to monitor and trade.
- Example: EURUSD, GBPUSD, USDCHF.
Group Stop-Loss/Take-Profit Settings
Additional Features
Refer to the EA’s settings for configurations related to:
- Grid Recovery
- Hedge Strategy
- Martingale Strategy
- Day and Time Filters
- Position Sizing
- Alerts and Notifications
How It Works
- The EA evaluates RSI values on each specified currency pair.
- Trades are executed based on the selected RSI entry strategy.
- Example: Buying when RSI enters the oversold zone or exits the overbought zone.
- Trades can be managed with optional exit strategies or left open for manual closure.
- All trades are monitored for cumulative profit or loss. If thresholds for the Group Stop-Loss or Group Take-Profit are reached, all trades are closed.
- Recovery strategies (Grid, Hedge, Martingale) are applied as specified in the input settings.