The Auto Trade (RSI) Metatrader 4 Forex Robot is an algorithmic expert advisor that opens, exits and manages positions based on the Relative Strength Index level crosses.
It is possible for users to set desired levels they want the Auto Trade (RSI) forex robot to deploy in opening and closing trades.
The logic that is used to define trade entries on the Auto Trade (RSI) EA is to buy when the RSI is above 50 and sell when below 50.
All timeframes will work on the Auto Trade (RSI) expert advisor but our preference falls on the 15- Minute chart.
Strategy Tester Report
Find below the Auto Trade (RSI) forex robot strategy tester report for the EUR/GBP forex pair on the 15- Minute chart.
The EA made a total profit of $433.67 from a total of 24 trades. The largest winning trade generated $36.79 in profits while the largest losing trade generated a loss of-$162.67.
Bars in test: 2049 ticks modelled
Initial deposit: $500.00
Total net profit: $433.67
Total trades: 24
Largest profit trade: $36.79
Largest loss trade: -$162.67
Consecutive wins: 23
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Program, OpenBUY, OpenSELL, RSIperiod, ManualLots, AutoLot, Risk, StopLoss, TakeProfit, CloseBySignal, TrailingStop, Slippage, MagicNumber
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Auto_Trade_With_RSI.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)