Free 2MA RSI for MetaTrader 5

MetaTrader 5 expert

2MA RSI

Info

The 2MA RSI is a Expert Advisor for MetaTrader 5 that this expert advisor uses two moving averages and rsi indicator. It has two money management systems - fixed lot and martingale.

Usage

This tool is typically used for automated trading on major forex pairs and gold.

Platform

This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.

How to Install and Use 2MA RSI

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 uses two Moving Averages and RSI indicator.

Typical Use Case

This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.

Compatible Platform & Setup

This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.

Description & Settings

Related: An Expert Advisor, based on the "Puria method" Forex Strategy - another powerful expert for MetaTrader 5 traders.

Also recommended: BG C Grid EA - similar expert with strong performance on MetaTrader 5.

This Expert Advisor uses two
Moving Averages
and
RSI
indicator.

It has two money management systems - fixed lot and martingale. The martingale can be disabled.

Input parameters:

PeriodFast - fast MA period;

PeriodSlow - slow MA period;

ShiftFast - fast MA shift;

ShiftSlow - slow MA shift;

RSI - RSI period;

Perekup - overbought RSI level;

Pereprod - oversold RSI level;

Stop - Stop Loss in points;

Tp - Take Profit in points;

DML - margin for 1 lot;

UD - number of doublings;

Slipage - slippage in points.

You may also like: KS Q Command Center Remote Google Sheets Trade Manager - excellent alternative for expert users on MetaTrader 5.

⚠ 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.