Capable scalping expert advisor using multiple RSI. to separate downtrend from uptrend and to avoid trading in the range (market without any significant momentum).
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Oscillator is also used for our entry. Every entry is also conditioned by price candle closing against the direction of main trend, to provide the best possible price for entry.
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Used forex indicators
RSI (relative strength index). RSI with period 50 and 14 will filter the trend and range. If are both trending above 50 line – uptrend. If they trend below 50 line -downtrend. By adjusting trigger zones we can change expert advisors sensitivity to trend and momentum.
Trigger for entry: RSI with period 3 coupled with bullish candle in downtrend and bearish candle in uptrend – to provide statistical price edge.
Test results from 01.01.2013 to 01.01.2016.
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This expert advisor was tested with following settings on 1H EURUSD. Test period: from 01.01.2013 to 01.01.2016.
Notes to inputs:
Take profit points: Take profit for orders
Candle points: Minimum size of signal candle
Stop loss points: Stop Loss for orders
Filter sensitivity above 50. Sensitivity for uptrend with 51 being the most sensitive setting.
Filter sensitivity below 50. Sensitivity for downtrend with 49 being the most sensitive setting.
Slow filter period: Calculation of slow RSI filtering out the major trend.
Medium filter period: Calculation of faster RSI filtering out the medium trend.
Lotsper1000. Position size used for 1000 USD of equity.
RSI signal period: Calculation period of signal RSI forex indicator.
UseMM: True setting will ulock automatic money management.
Lots: Position size - manual setting when UseMM is disabled
Unlimited 3 expert advisor
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.
