Expert Advisor based on the RSI Indicator.

The strategy is quite simple:

•    If the lower level of the RSI is crossed from bottom to top, a BUY deal is opened.
•    If the upper level of the RSI is crossed from top to bottom, a SELL deal is opened.

The lot size is fixed and is specified in the settings (Lot) or are automatically calculated depending on the initial capital (it can be configurated in the Ea´s control panel too).

Given that the indicator may temporarily cross either the upper or lower levels during the candlestick formation process, it is essential to examine the trade signal upon the completion of a candlestick. Consequently, the trade will be initiated at the opening of the subsequent candle.

However, the closing phase becomes more intriguing. Primarily, trades are typically closed when an opposite signal emerges. In other words, if there are open buy deals and a sell signal materializes, all the buy deals will be terminated, and a single sell deal will be established.

Nonetheless, if any of the buy deals possess a Stop Loss that, when closed, would generate a profit or simply reach the breakeven point, the deal will remain open (excluding swap considerations). The same principle applies to the sell deals.

Roboforex ECN Live Account – Leverage: 1-500 – Starting Capital: 100

Full support and comprehensive manual:

We believe in providing our customers with the best possible support. That’s why we offer full support and a comprehensive manual to help you get started. If you have any questions or issues, you can contact our support team for assistance.

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