Multi RSI

SUMMARY

It is an Expert Advisor (EA) designed to work on the 5-minute time frame of the EUR/USD currency pair. The EA utilizes simple trading logic to avoid over-optimization and uses the RSI indicator to determine entry points and trade in the direction of the trend.

PERFORMANCE (LIVE FORWARD TEST)

TOTAL GAIN	#ERROR!
MONTHLY	-2.5%
DRAWDOWN	16.0%
START	2024-03-26
OPERATING MONTH	5
ACCOUNT	demo

KEY FEATURES

Currency Pair	EURUSD
Time frame	5M

Terminal	MT5
Trading Syle

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Description

trading strategy

This EA executes trades completely automatically on 5-minute bars of EURUSD.
The trading strategy adopted is relatively simple.
This EA compares the values of the RSI indicator over two periods to detect trend reversals. The period parameter of the RSI is comprised between 50 and 70 and is useful for identifying relatively long-term trends. Using this simple logic, the EA aims to avoid over-optimization and keep the trading strategy as robust as possible.

position management

One of the key features of this EA is its approach to position management. All positions opened by the EA have a fixed stop loss and take profit level set at 60 pips. The potential loss of each position is limited.

Risk management and maximizing account profits

Instead of adopting a simple martingale strategy that doubles the lot size after a loss, this EA adjusts the lot size in a more flexible way. By doing so, we aim to avoid large drawdowns, recover losses quickly, and ultimately maximize the profit of your account.

Drawdown considerations

Although this EA adjusts the lot size and trades more aggressively after losses occur, it is important to note that there is a risk of large drawdowns if consecutive losses occur.

Attach an EA to the M5 chart of EURUSD on MT5.

parameter settings

Lot_Size: Minimum 0.01 lot ~ Please set according to your account balance.
Magic number: Normally, there is no problem with the default setting. This is the number that identifies this EA order within the account. If you use multiple EAs in one account, please set the magic number so that it is not the same as another EA’s magic number.

This EA operates while adjusting the lot size, so it cannot tolerate drawdowns if the account balance is too small or the lot size is too large.

We recommend starting with 2000 USD and 0.01 lot. Be careful when increasing lot size. The foreign exchange market changes rapidly and trading involves risk.

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