Simple Fractal RSI EA
Info
The Simple Fractal RSI EA is a Expert Advisor for MetaTrader 5 that this is a straightforward expert advisor (ea) based on the fractal and rsi indicators. It sells when the RSI crosses below the overbought level and buys when it crosses above the oversold level.
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 Simple Fractal RSI 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 is a straightforward Expert Advisor (EA) based on the Fractal and RSI indicators.
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: Gold MT5 Fractal Breakout EA - another powerful expert for MetaTrader 5 traders.
This is a straightforward Expert Advisor (EA) based on the Fractal and RSI indicators.Also recommended: GBPJPY Monday Strategy: Simple Weekly Long Trade - similar expert with strong performance on MetaTrader 5.
It sells when the RSI crosses below the overbought level and buys when it crosses above the oversold level.The trading signal is confirmed when the bar closes after the oscillator crosses the specified level.
The included tradealgorithms.mqh library enables the use of Expert Advisors with brokers that have non-zero spreads and allow setting Stop Loss and Take Profit simultaneously with position opening.
Default Expert Advisor input parameters were used during testing. Stop Loss and Take Profit were not utilized in these tests.
Figure 1. Examples of trades on the chart.
Testing results for 2026 on AUDUSD H1:
Figure 2. Chart of testing results.
You may also like: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.