Larry Connors RS I 2
Info
The Larry Connors RS I 2 is a Expert Advisor for MetaTrader 5 that this expert advisor utilizes three indicators: rsi (relative strength index), fast moving average (5-period), and slow moving average (200-period). The strategy's core concept is to identify the primary trend using the Slow Moving Average (MA 200).
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 Larry Connors RS I 2
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: RSI (Relative Strength Index), Fast Moving Average (5-period), and Slow Moving Average (200-period).
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: larry williams xg boost onnx expert advisor - another powerful expert for MetaTrader 5 traders.
This Expert Advisor utilizes three indicators: RSI (Relative Strength Index), Fast Moving Average (5-period), and Slow Moving Average (200-period).Also recommended: MFI Histogram Trading System - similar expert with strong performance on MetaTrader 5.
The strategy's core concept is to identify the primary trend using the Slow Moving Average (MA 200). Subsequently, it aims to buy on dips and sell on rises.
Long Entry Rules
- RSI (2-period) is less than 6.
- The close of the previous candle is greater than the Slow Moving Average.
Long Exit Rules
- Close is greater than the Fast Moving Average.
Short Entry Rules
- RSI (2-period) is greater than 95.
- The close of the previous candle is less than the Slow Moving Average.
Short Exit Rules
- Close is less than the Fast Moving Average.
Input Parameters
Best results are observed on the EUR/USD pair with a 1-hour timeframe. Adjust inputs to suit your preferences.
You may also like: Risk Guard Lite: A MQL5 EA for Controlled Risk Trading - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <trade\trade.mqh> // get code from other places
input double lot = 1; //lots
input int shortsmaperiods = 5; //fast ma period
input int longsmaperiods = 200; //slow ma period
input int rsiperiods = 2; //rsi period
input int rsilongentry = 6; //rsi long entry
input int rsishortentry = 95; //rsi short entry.......
⚠ 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.