Forex RSI Signals Manager Robot

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_UpShort direction is selected for initial trades. If the indicator falls below RSI_Level_DownLong 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.

Parameters

  • MAGICB – Long magic number.
  • MAGICS – Short magic number.

Trading hours

  • 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).

Initial conditions

  • 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.

Test results:

Forex RSI Signals Manager Robot

Installation

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)

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