Forex TS PingPong Trader Robot is a simple but profitable EA.
Through the backtesting starting from 2011, it works fine with EURUSD M30 or H1 timeframe. Other currency pairs need further testing or optimization.
It checks RSI indicator for the overbought/oversold status of the currency pair. If the currency pair is oversold/overbought, it will open the long/short position accordingly.
And it supports the signal filtering by MA. You may also set the trade direction based on your own analysis.
It has options to use martingale in the EA. Although martingale looks dangerous, since we are controlling the total size of positions, the largest relative drawdown in the 8 years trading is just about 30%.
I already had a signal based on this EA: PingPongTrader EURUSD. Currently the EA is running on M30 timeframe with default parameters.
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)