engulfing with rs i
Info
The engulfing with rs i is a Expert Advisor for MetaTrader 4 that opens buys on bullish engulfing candles when rsi is above overbought and sells on bearish engulfing candles when rsi is below oversold. when the account's profit reaches the desired level it closes all the orders.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use engulfing with rs i
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
opens buys on bullish engulfing candles when rsi is above overbought and sells on bearish engulfing candles when rsi is below oversold.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: error ea with profitable run - another powerful expert for MetaTrader 4 traders.
opens buys on bullish engulfing candles when rsi is above overbought and sells on bearish engulfing candles when rsi is below oversold.
Also recommended: Universal Configurable EA with Integrated Indicators - similar expert with strong performance on MetaTrader 4.
when the account's profit reaches the desired level it closes all the orders.inputs
lot size - specify the trade size.
profit goal - in deposit currency.
maxloss - a negative amount of currency.
rsi period.
applied price for rsi.
overbought level.
oversold level.
some results:
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
extern double lots=0.1;
extern double profitgoal=190.00; // profit goal in deposit currency
extern double maxloss=-10;
sinput string rsi_settings;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.