The RSI Explorer Forex expert advisor is an automated trading robot that deploys the relative strength index’s algorithmic logic.
It takes advantage of the RSI’s overbought and oversold simple trade logic.
The Forex robot utilizes the rationale behind that the “Oversold Area”, “Neutral Area” and “Overbought Area”.
It generates signals based on price moves in and out the three aforementioned RSI zones.
The EA is able to manage accounts through its well computed stop parameters that automated stops outs on x2 profit projection as against an eventual loss.
The RSI Explorer expert advisor made $6222.80 profit on the EUR/USD pair 4-hour chart from an initial deposit of $10000.
Feel free to test the expert advisor on any currency pair of your preference.
Default EA settings:
Magic Number; 10001, lots; 0.1, stop loss; 100.0, take profit; 200.0, trailing stop: 0, slippage; 3.
The default EA settings can be modified directly by editing the source code or changing the Forex robot’s input values.
It’s highly advised to test the expert advisor on a practice account first before running it on a real Forex account.
Download This MT4 Forex Robot Free
Strategy Tester Performance Report
Find below the strategy tester performance report for the RSI Explorer expert advisor attached to the EUR/USD 4-hour trading chart.
Strategy Tester Performance Highlights
The RSI Explorer expert advisor made a total profit of $6222.80 ($10000 initial deposit) from 47 trades during the initial testing period.
The largest winning trade generated $2989.20 in profit, while the largest losing trade lost -$848.00.
See the test results report above for all details.
Download This Expert Advisor Now
Magic Number, lots, stop loss, take profit, trailing stop, slippage.
More Info About This Expert Advisor
Recommended Currency pairs: Any
Trading Platform: Metatrader 4
Time frames: M30 – D1
Expert Advisor Type: Swing Trading
Copy and paste the expert advisor in the MT4 experts data folder.
Then restart the MT4 terminal and attach it to any chart.