Forex RSI Signals Manager Robot review:
The RSI Signals Manager Expert Advisor trades the signals of the RSI indicator. Trades are performed in an appropriate direction when the indicator reaches the value of RSI_Level_Down or RSI_Level_Up. If the indicator exceeds RSI_Level_Up, Short direction is selected for initial trades. If the indicator falls below RSI_Level_Down, Long one is selected. If Inversion = true, the trades are opened in the reverse direction. Profitable trades are closed by take profit. Loss-making ones are averaged by the EA. An order grid is created in the same direction, a breakeven level is calculated, and the grid is closed by take profit when the price reaches it, also in the plus. The EA is fairly easy to optimize.
- MAGICB – Long magic number.
- MAGICS – Short magic number.
- Hours_to_GMT_Offset – known server time shift hours (GMT).
- Hours – if true, the EA trades with a specified Begin_hour parameter (GMT) up to End_hour (GMT). If false, the EA trades constantly.
- Begin_hour – start hour (initial trades).
- End_hour – end hour (initial trades).
- Inversion – inverse the direction of trades.
- Deals – number of initial trades opened simultaneously.
- NumbLot – the number of decimal places for the lot values.
- Lot – the initial lot value for trades.
- TP – take profit in points from the open price or breakeven level.
- SLPLUS – the total stop loss for the averaging grid.
- CoefLot – lot increase ratio when increasing the number of levels in the averaging grid. If set to 1, the lot size does not increase for the subsequent trades in the grid.
- RSI – RSI indicator period. If the indicator exceeds 70, Short direction is selected, if it falls below 30, Long one is used.
- RSI_Level_Up – level for opening the initial Short position.
- RSI_Level_Down – level for opening the initial Long position.
- Step – step (in points) between the averaging grid levels.
- OnOffUnLine – if true, the mode of uneven averaging grid step increase is activated.
- ULсoef – averaging grid step growth ratio.
- MinPauseNetUp – the minimum pause in minutes between any Long trades.
- MinPauseNetDown – the minimum pause in minutes between any Short trades.
Forced direction selection modes
- SELL – if true, SELL direction is allowed.
- BUY – if true, BUY direction is allowed.
TrailingStop and TrailingStep – trailing parameters.
The EA is fairly easy to optimize using the initial setting, and they allow you to set EA into different modes according to your objectives.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)