Momentum Buddy

The Momentum Buddy uses momentum shift to identify trading opportunities. When the RSI crosses the 50 level from below, it indicates an upward shift in momentum. This shift is confirmed by the On Balance Volume (OBV) indicator. A buy order is placed. When the RSI crosses the 50 level from above, it indicates a downward shift in momentum. This shift is confirmed by the On Balance Volume (OBV) indicator. A sell order is placed. Exits are entirely based on indicator values.

The EA works better with mostly trending symbols. I include screenshots of a 10 year back test of USDJPY.  RSI is set to close, and its period is 5 in this case. OBV is set to tick volume. Timeframe H4. You can therefore compare results using your own broker.

The input parameters are so simple. These are:

Volume Settings

Lot size

RSI indicator settings

RSI period

RSI applied price

RSI level

OBV indicator settings

Type of volume

Other Settings

Magic Number - "This is a unique number that the EA uses to identify its own trades".

Remember that NO SINGLE TRADING STRATEGY IS FOOLPROOF! I do not promise good returns as past performance will never guarantee future results.

Trade well.