NetWorker

⭐⭐⭐⭐⭐ NetWorker - Advanced Grid Trading Expert Advisor with RSI for MetaTrader 5

NetWorker.mq5 is a powerful and customizable Expert Advisor for automated trading, based on a grid trading strategy that incorporates the Relative Strength Index (RSI) indicator. This EA is designed for traders who want to automate their trading with precise parameter control. The key feature is the use of the RSI indicator, which helps identify overbought and oversold levels in the market.

Key Features:

1. RSI-Based Trading Signals
   The EA opens buy orders when the RSI is below the oversold level (30) and sell orders when the RSI is above the overbought level (70).
   You can choose to trade both long and short positions or limit trades to only buy or sell based on your market outlook.

2. Grid Trading Strategy
   The EA uses a grid trading strategy, placing orders at fixed intervals (in pips). This allows the strategy to profit from price fluctuations within a range.
   The customizable interval between orders (in pips) allows you to adjust the distance based on market volatility.

3. Time Filter
   The EA includes a time filter that prevents new orders from being placed too frequently. You can set a minimum time interval between orders (in minutes) to avoid market noise.

4. Dynamic Take Profit and Stop Loss
   Take Profit is set dynamically in pips and can be adjusted based on your preferred risk/reward ratio.
   Although no stop-loss is used, the EA has a breakeven feature that locks in profit when the price moves in your favor.

5. Loss Protection (Breakeven)
   The EA automatically moves the stop-loss to the breakeven level after the price moves a specified number of pips in your favor, minimizing potential losses.

6. Lot Size Control
   You can set the lot size for your trades, giving you flexibility in managing risk. The lot size can be set to any value within the allowed minimum and maximum volume for the symbol.

7. High Customizability

   • RSI Period: You can adjust the period for the RSI indicator.
   • Overbought and Oversold Levels: Customize the levels for trade decisions.
   • Grid Trading Interval: Set the distance between orders in pips.
   • Take Profit: Define the take profit distance in pips.
   • ATR Multiplier: Use the Average True Range (ATR) for assessing market volatility (though it does not directly affect stop-loss).
   • Timeframe: By default, H1 is used for currency pairs such as EURUSD, but you can select a different timeframe depending on the instrument.

NetWorker EA Settings Overview:

1. RSI Period
   This parameter sets the period for calculating the Relative Strength Index (RSI), used to assess overbought or oversold market conditions. The default period is 14, but it can be adjusted between 1 and 140 depending on user preferences. A lower value increases sensitivity to market changes, while a higher value smooths the signals.

2. Overbought Level
   The overbought level for the RSI. By default, it is set to 70, indicating that the asset may be overbought and signaling a potential sell. You can adjust this level from 0 to 700 depending on how aggressively you want to react to market signals.

3. Oversold Level
   The oversold level for the RSI. The default value of 30 indicates that the asset may be oversold and signals a potential buy. This level can be set from 0 to 30, allowing for different market conditions.

4. Grid Order Interval in Pips
   This parameter defines the distance between orders placed in the grid trading strategy. The interval is set in pips and controls the density of trade positions. Smaller values increase the number of trades, while larger values reduce them.

5. Time Filter Between Orders in Minutes (Increase for Decrease)
   This filter regulates the minimum time interval between orders in minutes. The higher the value, the less frequently new positions will open. This helps avoid excessive trading during market noise and provides better control over when new orders are placed.

6. Lot Size for Trades
   This parameter determines the lot size for each trade. It gives you flexibility in risk management, allowing you to set the lot size within the permissible minimum and maximum values for your chosen instrument.

7. Take Profit in Pips
   Take Profit (TP) in pips determines how far from the current price the exit level should be set for a profitable trade. This can be adjusted based on your desired risk/reward ratio. Setting a take profit automatically closes orders when the market moves in your favor.

8. ATR Period (Average True Range)
   The ATR parameter is used to assess market volatility. A higher ATR period smooths the calculation. This allows the EA to account for market volatility and adjust stop loss and take profit levels accordingly.

9. Multiplier for Dynamic Stop Loss
   This parameter helps intelligently adjust the stop loss based on market volatility. The multiplier affects the distance at which the stop loss is set from the current price, helping to avoid premature stop-outs due to small price fluctuations.

10. Break-Even Points
    Break-Even is when the price moves a specified number of pips in your favor, after which the stop loss is moved to the entry point, ensuring no loss on a successful trade. This minimizes risk and protects from losses if the market starts to move against your position.

11. RSI Timeframe
    The timeframe on which the RSI indicator is calculated. By default, H1 (1-hour) is used for currency pairs, while D1 (1-day) is typically used for precious metals. You can adjust this parameter depending on your preferences and trading instruments.

12. Trade Type (Default: Both Sides)
    This setting allows you to choose the trade type:

• Both Sides (Both) — trades both buy and sell orders depending on the RSI signals.
• Buy Only (BuyOnly) — opens buy orders only when the RSI is below the oversold level.
• Sell Only (SellOnly) — opens sell orders only when the RSI is above the overbought level.

Advantages:

• Automated Trading: Automates grid trading with RSI signals without manual intervention.
• Risk Management: Built-in functions like take profit and breakeven help manage risk effectively.
• Customizability: Customize the strategy to match your trading style and risk preferences.
• Scalability: Suitable for various instruments and timeframes.

Ideal For:

• Traders who want to automate their grid trading strategy using RSI.
• Traders who prefer an automated approach and wish to trade both long and short positions or in one direction.
• Traders needing flexibility in configuring trade parameters, including order intervals, RSI levels, and lot sizes.

Attention:

Trading involves the risk of losses, and the results of this Expert Advisor are not guaranteed. Please ensure you understand the risks before using this product in live trading conditions. Always test the EA in the strategy tester before using it in real trades.