RSI MultiCross Expert Advisor (MT4)
The RSI MultiCross Expert Advisor works by entering a trade when RSI makes a cross of a level and exits on the cross of the opposite level (MIN_RSI, MAX_RSI).
To enter a buy RSI will cross below the MIN_RSI and the candle that closes above MIN_RSI will signal to enter the trade. This allows the EA to get some indication price could be reversing (vice versa for a sell signal).
To exit a buy RSI will cross above the MAX_RSI minus the RSI_Buffer. Or you can use the TP_Multiplier or SL_Multipliers and use an ATR based stop loss / take profit.
Set TP_Multiplier or SL_Multiplier to 0 to use the averaging features and to exit RSI at the opposite level.
Works on all time frames and pairs.
For higher time frames I will use the TP_Multiplier and SL_Multiplier (H1, H4, Daily). Lower time frames I use the averaging features.
No EA should be left alone. Human intervention is a must.
MagicNumber: Magic Number used for orders
RSI_Period: RSI Period to use.
MIN_RSI: Will not enter buy unless RSI is below the MIN_RSI
MAX_RSI: Will not enter sell unless RSI is above the MAX_RSI
RSI_Buffer: Add this number to the MIN_RSI or subtract to the MAX_RSI for exit. (set to 0 to not use)
UseAveraging: Turns on the averaging feature
UseLotSizeAdd: Increment lot size option
UseTPAllTrades: If using averaging you might only want to use TP for the first trade
RangeMultiplier: Used to calculate the distance between averaging trades
MaxOpen: Max orders that will open.
ClosePercent: Percentage of account balance to close averaging trades in profit
Lot_Size: Starting Lot Size
TP_Multiplier: Used to calculate the ATR based Take Profit (set to 0 to not use)
SL_Multiplier: Used to calculate the ATR based Stop Loss (set to 0 to not use)
MaxPairLoss: Percentage of account balance to close all pair trades
MaxSpread: Max Spread