This expert advisor is using RSI with commonly used period 21 as momentum indicator. To improve the signal filter consisting of two moving averages is used. Our trade will be entered only in the direction of prevailing main trend. To maximialise profits from each entry, trailing stop is used together with tight preset stop loss.
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Used forex indicators:
RSI (relative strength index) 21. Trade will be entered when RSI rises above 70 line (buy into momentum) and falls below 30 line (sell into the momentum.
Moving averages: Crossvoer of slow moving average 500 and faster moving average 250 will be used to determine the direction of main trend. We will enter only the trade in the direction of main trend.
There are many different settings that perform well with this expert advisor, you are welcomed to test it for best performance and apply it on any currency pair.
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This expert advisor was tested with following settings on 1H EURUSD. Test period: 2013,2014,2015.
Notes to inputs:
Use MM: true setting will enable LotsPer1000 – automatic money management. False settings will only allow stable lot size (Lots).
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.
