Login / Register
Add a review
Log in
Sign UP
[bws_google_captcha]
MMM RSI for Scalping and Trend

0.00

The MMM RSI Expert Advisor is based on two strategies:

  • According to the first one, sell orders are opened if the RSI indicator reaches the maximum value, and buy orders are opened when the RSI reaches the minimum value.
  • The second strategy calculates the speed of the price movement and determines the direction of the trend, as well as closes pending orders when the value specified in the first parameter is reached. To use the Expert Advisor in scalping mode, you need to set the twelfth parameter to TRUE, and then all profitable pending orders will be closed.

The Expert Advisor is programmed to protect capital in the event of unfavorable market behavior. There is a TrailingStopLoss protection (ideal for scalping, as it closes any profitable order if the price moves quickly against you, and the profit on the order exceeds zero). You can also determine the maximum number of simultaneously opened orders for each symbol and the minimum profit in the deposit currency.

  • Closes orders with any profit of value over specified in currency: the parameter works the same as a traditional take profit, but with the difference that it specifies the value in the deposit currency, usually USD. Any order with a profit equal to or greater than this value will be closed. To disable this option, enter 0 (zero).
  • Take profit (order profit ceiling): traditional take profit. Its value is specified in pips. Orders will be automatically opened with this take profit value. To disable this option, enter 0 (zero).
  • Stop loss (loss limit): traditional stop loss. Its value is specified in pips. Orders will be automatically opened with this stop loss value. To disable this option, enter 0 (zero).
  • Lots volume to trade: the volume of orders to trade on the current currency pair. This parameter is required.
  • Trailing stop loss: traditional trailing stop. Its value is specified in pips. Orders will be automatically opened with this stop loss value. To disable this option, enter 0 (zero).
  • RSI Period: The period of the RSI indicator. The Expert Advisor uses the RSI indicator to measure the rate of change in the value of a currency pair in order to determine the trend on the currency pair on which it operates. If you are not sure about your actions, we recommend that you leave the default value (14). This parameter is required.
  • Maximum number of simultaneous orders to open for this symbol: the maximum number of simultaneously opened orders for the current symbol. To disable this option, enter 0 (zero).
  • Magic Number: The magic number for orders opened by the Expert Advisor.

[spoiler title=”Read More…”]

  • Lowest RSI Level: The minimum value of the RSI. The Expert Advisor uses the RSI indicator to measure the rate of change in the value of a currency pair in order to determine the right moment to open buy orders. If you are not sure about your actions, we recommend that you leave the default value (30). This parameter is required.
  • Highest RSI Level: The maximum value of the RSI. The Expert Advisor uses the RSI indicator to measure the rate of change in the value of a currency pair in order to determine the right moment to open sell orders. It is recommended to leave the default value (70) if you do not know what to do with this parameter. This parameter is required.
  • Price Applied to RSI: The price used to calculate the RSI indicator. Required parameter.
  • Minimum equity percentage to allow opening new orders: the minimum amount of equity required to open new orders is used to protect capital..

  • Double the trading volume (lots) if prior order if profitable: if set to true, the EA will double the volume of the following orders after closing a profitable order for the current symbol. To disable the parameter, set false.
  • Maximum Lot size: maximum lot size. When the maximum value is reached, the lot size will reset to the minimum value.;

  • Start hour the EA will not trade (0..23h): the hour of the start of the period in which the EA will not trade. If you do not want to use the option, specify the value -1.
  • End hour the EA will not trade (0..23h): the hour of the end of the period in which the EA will not trade. If you do not want to use the option, specify the value -1.

[/spoiler]

Add review
Reviews ( 0 ):