Unlock Trading Success with the RSI Engine for MetaTrader 5

Key Features

Multiple Entry Strategies: Choose between classic overbought/oversold reversals or advanced RSI divergence signals to find the best entry point.
Confirmation Filters: Use an RSI centerline cross to boost signal accuracy and minimize false entries.
Dynamic Exit Logic: Beyond Stop Loss and Take Profit, the EA can close trades based on RSI levels for greater flexibility.
Full Customization: Tailor all RSI parameters, trade management settings, and strategy rules to fit your trading style.
Independent Trade Management: A unique Magic Number allows the EA to manage its own trades without interfering with other bots or manual trading.

Trading Strategies & Signals

Entry Signal Logic

You can choose one of the following methods to generate your entry signals.

1. RSI Divergence (Default Strategy)

This is the go-to strategy, activated by default. The EA detects divergences between price action and the RSI oscillator over a customizable lookback period (default: 60 bars) to identify potential market reversals.

Bullish Divergence (Buy Signal): This occurs when the price makes a new low, but the RSI prints a higher low, suggesting downward momentum is weakening.
Bearish Divergence (Sell Signal): This happens when the price reaches a new high, but the RSI shows a lower high, indicating that upward momentum is faltering.

2. Overbought/Oversold Reversal

If you prefer, you can disable divergence to use the classic RSI reversal strategy.

Buy Signal: Triggered when the RSI crosses up from the oversold zone (default: below 30).
Sell Signal: Triggered when the RSI crosses down from the overbought zone (default: above 70).

3. Centerline Confirmation (Optional Filter)

For extra confirmation, you can enable this filter. After an initial signal is generated (from either divergence or an OB/OS condition), the EA waits for the RSI to cross the centerline (50) before executing the trade, confirming a real shift in market momentum.

Exit Strategy Logic

The EA employs both fixed and dynamic exit conditions to protect your trades.

Stop Loss & Take Profit: Each trade is safeguarded by a fixed Stop Loss and Take Profit level.
RSI Level Exit (Enabled by Default): This dynamic exit closes positions based on the RSI's value. For instance, a long position may close automatically when the RSI enters the overbought level (e.g., 70), locking in profits as momentum fades. Conversely, a short position can close when the RSI reaches the oversold level (e.g., 30).

Trade and Risk Management

The EA comes equipped with essential parameters to manage risk effectively.

Lot Size: Fixed lot size for all trades. (Default: 0.1)
Stop Loss: Protective stop-loss in points. (Default: 500)
Take Profit: Profit target in points. (Default: 300)
Magic Number: A unique identifier for the EA's trades. (Default: 160941)

RSI Indicator Configuration

You have complete control over the RSI indicator settings to suit your trading style.

RSI Period: The lookback period for the RSI calculation. (Default: 14)
Overbought Level: The threshold for the overbought zone. (Default: 70)
Oversold Level: The threshold for the oversold zone. (Default: 30)
Centerline: The midpoint of the RSI oscillator. (Default: 50)