Description
Whenever the RSI indicator enters the overbought area, it will open a short trade. When it enters the oversold area, it will enter a long trade.
The basic version of this EA can be downloaded for free but will only work on demo accounts.
Basic
- Configure lot size
- Set SL and TP
- Trade on new bar
- Configure RSI period
- Set RSI shift & applied price
- Set overbought & oversold levels
- Two Entry Strategies
$39.95 $29.95Add to cart
Pro (most popular)
- All features from Basic, plus:
- Percentage position sizing
- ATR Trailing stops
- Fixed Distance Trailing stops
- Bar Trailing Stops
- Move to Break-even
- Dynamic stop loss and take profit (ATR-based)
- R:R ratio take profit
- Inverse trade direction
- Concurrent trades
- Spread filter
- Moving Average Filter
$49.95 $39.95Add to cart
Settings
The EA comes with a number of settings that make it easy to customize. You can change the RSI period that is used, the size of the order, the stop loss and take profit. Here are the settings that are included with the Basic version of the EA (the Pro version has many more options):
| Name | Description |
|---|---|
| Lot size | The position size of the order in lots |
| Stop loss distance | Stop loss distance in pips |
| Take profit distance | Take profit distance in pips |
| RSI period | The RSI indicator period |
| RSI shift | The shift of the RSI indicator |
| RSI applied price | The applied price (Close, Open, High, Low, Median, etc) |
| Entry Strategy | When exactly to enter. Two options:
|
| Upper RSI level | The overbought level |
| Lower RSI level | The oversold level |
