Hey guys, I've been running the RSI MTF EA on a demo account for just over 3 months now.
It's running on a VPS on the EUR/USD M5 chart.
The EA has achieved 11% ROI in the 3 months. EA not perfect, but feel there is room for improvement to make me confident to go live with this. The issue is the potential DD it can get into.
Check out my latest video which goes through the recent trades.
Feedback always welcomed
hey zoheb01, thanks a lot for the EA, i didnt see in the settings anything about SL..is there a possibility to add this option?
dont know why he missed the first on but the second one also by the rules should have been taken
Nice EA you have which I believe is one of the best around as an idea.
Can I ask you to check the possibility to change the settings of the macd filter?
For example, you can use 5-13-1 with a 2 colour macd
See Picture attached where I have placed the blue vertical line. The oversold arrow disappeared and the macd at the subwindow is the red bar.
You can make the EA taking 2 trades one that goes for the first target 0.5% as you have it or just 10 pips and the second to trail in profit starting from the first target and on.
Maybe with the way you can make the EA more profitable because I believe for us ( small traders) is a kind of hit a run situation to make profit.
Looking forward to a good thread. Thanks and
Thanks for the EA. I tried it on a demo account. I can see this is a no stop-loss strategy. The EA will take profits however simply let the losses run with the hope that sometimes in the future the profits will be enough to cover the losses. My suggestion is to add an option such as exit then RSI reverses. So cutting the potential losses early instead of letting the losses accumulating.
I use the Average Price indicator to help me "trade out of trouble"
Here is a video of how I use it
Dear Zoheb01. Thanks for the EA. But can you please help us with the settings. What is the lot that the EA place trades? How we change it? How the next trade is placed if the first is not hit the target set? what is the signal distance per cent means? And finally what is the gain per cent of balance means?
The EA is working only on the 5-minute timeframe?
I’ve created a number of indicators, and the most common questions I get are:
What is my “best” indicator and what are the “best” settings?
This week I’ve decided to share the MT4 template of how I setup my MT4 chart and the indicators I’m currently using to trade the Forex markets.
The video below walks through the template of what indicators I use and how I use them. I share examples of previous trades and how I use the indicators to tell me a story of what’s happening on the chart and whether to enter.
List of indicators needed for the template:
OGT Price Action Indicator v1.3
OGT Trend Dashboard Indicator v1.1 (Need to change Symbol when loaded, watch video)
OGT RST MTF Indicator v1.1
Moving Averages (part of MT4 platform)
Round Numbers Indicator (Free from MQL5 marketplace – watch video)
MACD LWMA v1.01 Indicator (not my indicator but love it!)
Indicators attached for ease.
MACD LWMA v1.01.ex4OGT Price Action Indicator v1.3.ex4OGT RSI MTF Indicator v1.1.ex4OGT Trend Dashboard v1.1.ex4
OGT Trading MT4 Template.tpl
Any questions let me know.
Pips per trade: 5
gain % of balance make per trade: 1%
1% of £1000 = £10
£10 / 5 pips = £2 per pip / 0.2 lots
The EA will open an additional trade if RSI MTF signal happens and there are trades still open. Set signal distance to 0.
© Forex Factory