Principle of operation
- Advisor sets the stop order (buy stop / sell stop) in the region X pips from the current price when activating signal buy / sell indicator RSI.
- Yield of the entries occurs at levels stop loss and take profit and trailing stop (take profit in dollar, stop loss in dollar and trailing stop).
- If the transaction does not reach a value sufficient to output from the position at re-activating signal buy / sell indicator RSI, in the distance X pips from the current price set another stop order (buy stop / sell stop).
- MagicNumber = 3377.
- MintoDelStopOrder = 15.
- Risk = 1.00. The level of risk depends on the funds in the account. At Risk = 0 Advisor uses only parameter Lots.
- MinLots = 0.01.
- MaxLots = 10.00.
- MaxOrder = 10. The maximum order.
- Lots = 0.10.
- Step = 25. The distance from the current price to stop.
- UseHiddenTakeProfit = true. Activate TakeProfitDollar.
- TakeProfitDollar = 100.0.
- UseHiddenStopLoss = true. Activate StopLossDollar.
- StopLossDollar = 100.0.
- UseTrailingStop = true. Activate TrailingStop.
- TrailingStop = 25.
- Rsi_Period = 14.
- Rsi_Timeframe = 0.
- UseFollowTrend = false. Select true, if you want to follow the trend, UseCounterTrend must be equal to false.
- UpperFollow = 55.
- LowerFollow = 45.
- UseCounterTrend = true. Select true when working against the trend (counter trend), UseFollowTrend should be equal to false.
- UpperCounter = 70.
- LowerCounter = 30.
- Use_TimeFilter = true. Activate filtering hours advisor trades.
- Trade_Hour_Start = 0.
- Trade_Hour_End = 24.
- Monday = true. Establish working days advisor.
- Tuesday = true.
- Wednesday = true.
- Thursday = true.
- Trade_On_Friday = true.
Initially, test the product in the MetaTrader 4 and swipe forward-tests on a demo account to evaluate the effectiveness of the adviser. Also test it on different time frames and pairs to get the best result. My recommendations for settings: Use Advisor sufficiently large timeframes (H1 / H4). You can also change the timeframe (timeframe) from 0 to 60 or 240.
Testing at the RSI period equal to 14 (standard RSI) or 20, you can change the parameter value from 14 to 20 to test other periods. It is recommended to use a counter trend techniques RSI (counter trend RSI methods). You can also follow the trend.
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