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RSI Expert

Developed by Don Perry

RSI Expert trades using a Multi Timeframe RSI (5, 15 and 30 minutes), combining also 2 EMAs.


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(11.23KB) Version RSI_Expert_1.3

Expert Reviewed
Our rating: Rated 3 out of 5 stars
Avg rating: Rated 0 out of 5 stars
TypeEA
PairsALL
Time frames ALL
Test profit -1
Test max drawdown -1
Market sessionsASIA, AMERICA, EUROPE
Required experiencebeginner
CompatibilityMT4
CodeSource Code
Details
LicenseFree
Price0 USD
Price description

Updated: 04/10/2010

Screenshots and Videos

Expert Reviews

Expert Technical Review

by Alberto Muñoz - expert rating: Rated 3 out of 5 stars

How the software works

RSI Expert produces trading signals based on the values of several RSI in different timeframes as well as the crossover of two weighted moving averages.

In particular, when all the RSI are above the 50 level and moving averages show a bullish crossover, the EA will send a buy order, while if all the RSI are below 50 and moving averages show a bearish crossover then the EA will sell.

Main settable options

The configurable options of this EA are:
FromHourTrade =6 This and the next parameter define the time range in which the EA will trade.
ToHourTrade =21
FastPeriod =18 Period for the Fast Moving Average.
UseHourTrade = true Defines if EA will trade in a time range or not.
SlowPeriod =60 Period for the Slow Moving Average.
SL =23 Stop loss in pips
TakeProfit =100 Profit target in pips
Lots =1 Position Size
TrailingStop =18 Value for trailing stop
incTp =0 Parameter to control slippage
USE_La_Nina, Mild_Nina, mild, Risk, MM, Use_El_Nino, Mild_nino Parameters used to manage trades using several algorithms.

Our Technical Verdict

RSI Expert is a complete EA, including advanced rules to manage entries and exits. Its main drawback is that it produces very few trading orders, due to its restrictive rules so you should be very patient if you’re planning to trade using this EA. Probably it’s ideal for position traders but not suitable for scalpers.
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