rs i ea
Info
The rs i ea is a Expert Advisor for MetaTrader 4 that this expert advisor is based on overbought and oversold levels. ea will buy when rsi is in the oversold and sell when rsi is in the overbought zone.
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 rs i ea
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
this expert advisor is based on overbought and oversold levels.
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: Quantora Trade Manager MT4: Advanced Position Management for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
Also recommended: Quantora Break Even Manager MT4 - Professional Automatic Break Even Utility - similar expert with strong performance on MetaTrader 4.
this expert advisor is based on overbought and oversold levels.ea will buy when rsi is in the oversold and sell when rsi is in the overbought zone.
update (2015.09.28):
trailingstop has been added.
trailingstop will active only if trailingstop>0.
update (2015.09.09):
openbuy, opensell — now you can set for sell only or buy only or both.
closebysignal — it means you must set stop loss and take profit (if closebysignal = false ).
You may also like: Quantora Trailing Stop Manager: Automatic Stop Loss for MT4 - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
input bool openbuy=true;
input bool opensell=true;
input bool closebysignal=true;
input double stoploss=0;
input double takeprofit=0;
input double trailingstop=0;.......
⚠ 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.