Expert Advisors and Indicators for MetaTrader 5

Here you will find many programs for the MetaTrader 5 trading platform, which save the trader from routine operations and help him concentrate only on the really important things

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MetaTrader 5

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Information

Experts
MetaTrader 5
Yvan Musatov
1.0
5

Overview

A professional expert analyzes the market using the relative strength index. The basic principle is that the bot takes the indicated prices for a certain period of time and calculates the strength and amplitude of the price. This can show when the trend will lose strength and reverse. The signal from the exit from the overbought/oversold zones is analyzed, the levels of these zones will be the levels with LEVEL_MAX and LEVEL_MIN values. We buy when the signal first falls below a certain level (LEVEL_MIN), and then rises above it. We sell when the signal first rises above a certain level (LEVEL_MAX), and then falls below it. The Expert Advisor handles errors correctly and works reliably with a capital of $100 or more, $1000 is recommended. The EA uses the basic concepts: trailing start, trailing stop, stop loss and take profit.

For a decade now, the relative strength index has been haunting stock traders around the world, it is considered one of the best indicators for creating market metrics and various trading strategies and systems. On the one hand, it seems simple, like the rules of the game of football, on the other hand, it contains impressive depths that it is impossible to stop revealing.

The difference of this Expert Advisor is the automatic adjustment of parameters in accordance with volatility. There is a special set of parameters for this. The essence of which is that we determine the timeframe and the basic volatility from which we will build. For example, the base volatility for EURUSD on the M1 timeframe, subject to the analysis of 60 bars, will approximately be 150. Thus, all the bot parameters that are expressed in points will correspond to this particular volatility, and when the volatility changes, the parameters will automatically change. If you use this scheme on other instruments, the bot will also automatically change the parameters according to the current volatility.

Parameters
  • MAGIC - Magic number.
  • PERIOD - The period on which the Expert Advisor works.
  • LIMIT_SPREAD - Spread limit.
  • LIMIT_LOT - Maximum lot limit.
  • LOT - Lot, if more than zero then nano-management does not work.
  • MONEY_MANAGEMENT - Forms a lot depending on the deposit.
  • STOP_LOSS - Stop loss.
  • TAKE_PROFIT - Take profit.
  • TRAILING_START - Trailing stop start. 0 - Disabled.
  • TRAILING_STOP - Trailing stop. 0 - Disabled.
  • LEVEL_MIN - Minimum level for RSI.
  • LEVEL_MAX - The maximum level for RSI.
  • PERIOD_RSI - RSI period.
  • APPLIED_PRICE_RSI - Price RSI calculation.
Volatility setting
  • VOLATILITY_ON - activates work with volatility.
  • VOLATILITY_TF – period for which volatility is calculated.
  • VOLATILITY_BARS - Number of bars for volatility analysis.
  • VOLATILITY_NORMAL - normal volatility.
  • VOLATILITY_MIN - Filter by volatility, if it is less than this parameter, then work does not occur.
  • VOLATILITY_MAX - filter by volatility, if it is greater than this parameter, then the work does not occur.

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RISK WARNING: fx-market.pro is a software reseller, we do not offer investment advice or execute trades. The software we provide is a tool where the settings are input by the end user to design their own trading strategy. Trading forex and CFDs carry a high degree of risk to your capital and it is possible to lose your entire deposit. Only speculate with money you can afford to lose. As with any trading, you should not engage in it unless you understand the nature of the transaction you are entering, and the true extent of your exposure to the risk of loss. These products may not be suitable for all investors, therefore if you do not fully understand the risks involved, please seek independent advice.

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