Expert Advisor: Stochastic MA with RSI
Info
The Expert Advisor: Stochastic MA with RSI is a Expert Advisor for MetaTrader 5 that this expert advisor utilizes three indicators: ma(150), rsi(3) with levels 80 and 20, and stochastic(6, 3, 3) with levels 70 and 30. These parameters can be customized to suit your trading strategy.
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: Stochastic MA with 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 utilizes three indicators: MA(150), RSI(3) with levels 80 and 20, and Stochastic(6, 3, 3) with levels 70 and 30.
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.
This Expert Advisor utilizes three indicators: MA(150), RSI(3) with levels 80 and 20, and Stochastic(6, 3, 3) with levels 70 and 30. These parameters can be customized to suit your trading strategy.Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
Trade Entry Direction:
The direction of trade entry is determined by the Moving Average (MA). Only one trade is initiated in each direction.
- If Bid > MA, consider a buy trade.
- If Ask < MA, consider a sell trade.
Position Entry:
The position is entered when both RSI and Stochastic conditions are satisfied.
- Buy when RSI and Stochastic are below their respective lower levels (RSI < 20 and Stochastic < 30).
- Sell when RSI and Stochastic are above their respective upper levels (RSI > 80 and Stochastic > 70).
Exit Strategy:
The exit strategy is based on the Stochastic indicator and profit/loss considerations.
a) Trailing Stop = 0:
- Close a buy position if Stochastic > 70 and open price <= bid, ensuring a profit in points.
- Close a sell position if Stochastic < 30 and open price >= ask, securing a profit.
b) Trailing Stop > 0:
- If a trailing stop value is set, the position's stop loss will be adjusted at the opening of each new candlestick, maintaining the specified distance from the price. This may result in closing the position with a loss.
c) Allow Loss = 0:
- Close a position upon reaching the opposite Stochastic level if the trade has incurred a certain loss in points.
- Close a buy if Stochastic > 70 and open price > bid.
- Close a sell if Stochastic < 30 and open price < ask.
d) Allow Loss > 0:
- If 'Allow Loss' is specified and the position entry zone is exited according to Stochastic, the position is closed if the trade has a loss equal to or greater than the specified points.
- Close a buy if Stochastic > 30 and the difference between open price and bid is greater than or equal to the allowed loss in points.
- Close a sell if Stochastic < 70 and the difference between ask and open price is greater than or equal to the allowed loss in points.
Testing on EURUSD, H1:
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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.