RSI EA Metatrader 4 Forex Scalping Robot

The RSI EA Metatrader 4 Forex Scalping robot is an algorithmic trading software that utilizes the Relative Strength Index or RSI indicator in gauging market signals.

The RSI EA has a set of logic that will buy when the RSI is in an oversold condition and sell when the RSI is in the overbought region.

The EA offers users the option of setting the levels they wish to use to open and close trades.

This bot is a scalping system because it works best on the 1-Minute time frame.

However, it can be optimized for use on other timeframes as well.

In conclusion, the RSI expert advisor can be adopted on all currency pairs if rightly optimized.

Free Download

Download the “rsi_ea.mq4” MT4 robot

Strategy Tester Report

Find below the RSI EA forex robot strategy tester report for the AUD/USD forex pair on the 1-Minute chart.

Overall Performance

The EA made a total profit of $127.73 from a total of 51 trades. The largest winning trade generated $18.68 in profits, while the largest losing trade generated a loss of-$14.28.

Statistics:

Bars in test: 32521 ticks modelled

Initial deposit: $100.00

Total net profit: $127.73

Total trades: 51

Largest profit trade: $18.68

Largest loss trade: -$14.28

Consecutive wins: 3

Consecutive losses: 1

Download

Download the “rsi_ea.ex4” Metatrader 4 robot

MT4 Forex Robot Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Expert advisor

Input Parameters: OpenBUY, OpenSELL, CloseBySignal, StopLoss, TakeProfit, TrailingStop, RSIperiod, BuyLevel, AutoLot, Risk, ManualLots, MagicNumber, Koment, Slippage

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: RSI

Installation

Copy and paste the rsi_ea.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)

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