Advisor Based on RSI and Martingale – EA MetaTrader 5
by
This advisor utilizes the RSI indicator and performs adaptive search for minimums and maximums to determine optimal entry and exit points in the market. The advisor analyzes the last `BarsForCondition` candles to gauge the current market condition.
Entry and Exit Strategy
Entry: The advisor opens a position based on signals from the RSI indicator.
– Buy: if RSI reaches a minimum over the specified `BarsForCondition` bars.
– Sell: if RSI reaches a maximum over the specified `BarsForCondition` bars.
Exit: Positions are closed upon reaching TakeProfit or StopLoss levels, which are set in points via the `TakeProfit` and `StopLoss` parameters.
Signal Filtering
Time: The advisor trades only within the time interval specified between `StartTime` and `EndTime`.
News Avoidance: The advisor avoids trading during time periods specified in the `NewsTimeToAvoid` parameter.
Spread: Maximum allowable spread values are set through the `MaxSpread` parameter.
Martingale: The advisor can employ a martingale strategy to increase the lot size during market reversals. This feature is activated by the `Upheaval` parameter and the `MartingaleMultiplier`.
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