Expert Advisor: EXP RSI OMA
Info
The Expert Advisor: EXP RSI OMA is a Expert Advisor for MetaTrader 5 that expert advisor exp rsi oma utilizes signals generated from its histogram. A signal is formed at the close of a bar under specific conditions:- Breakout of support or resistance levels by the MACD histogram.
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 Expert Advisor: EXP RSI OMA
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
Expert Advisor EXP RSI OMA utilizes signals generated from its histogram.
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: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
Expert Advisor EXP RSI OMA utilizes signals generated from its histogram.Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
A signal is formed at the close of a bar under specific conditions:- Breakout of support or resistance levels by the MACD histogram.
- Change in the direction of the histogram or signal line.
- Breakout of the signal line by the histogram (depending on selected mode input parameters).
The RSIOMA_HTF indicator within the EA is for trend visualization in the Strategy Tester only and is inactive in other modes.
To use this EA, place the compiled rsioma.ex5 and rsioma_htf.ex5 indicator files in your <terminal_data_folder>\mql5\indicators directory.
After compilation, the exp_rsioma.ex5 expert file includes the rsioma.ex5 and rsioma_htf.ex5 indicators as embedded resources. This means the EA can function independently without the need for separate indicator files in the terminal folder.
The indicator executable files have been added as resources at the global scope.
Resource inclusion in the EA code:
#resource "\indicators\rsioma.ex5"
#resource "\indicators\rsioma_htf.ex5"
The string paths to these indicators have been updated in the oninit() function block.
This approach allows the compiled EA to be used on other trade terminals without requiring the indicators to be installed separately.
The tradealgorithms.mqh library file supports using EAs with brokers offering non-zero spreads and the ability to set stop loss and take profit simultaneously with position opening.
Default EA input parameters were used for the following tests. Stop loss and take profit were not used.
Figure 1. Examples of deals on the chart.
Testing results for 2015 on USDCHF H4:
Figure 2. Chart of testing results.
Testing results for 2026 on USDCHF H4:
You may also like: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.