RSI Strategy that works well but i need an EA to test it more!!!

Hi Everyone,

I want to present a strategy that is not mine. I read it somewhere (dont remember where) and saved the strategy on my computer. I have worked on some backtesting for awhile and it looks very profitable. I would like someone to test it for a longer period of time using an ea to backtest, and trade with so i can get more concrete results. So here goes;

Rules for a Long Trade

1. RSI reading must be less than 30.
2. Wait for an UP candle to form and close with an RSI reading of greater than 30.
3. Go long at market on the open of the next candle.
4. Place your stop at the swing low.
5. Exit half of the position at 50% of the risk and immediately move the stop on the rest to breakeven.
6. Exit the rest of the position when one of the following conditions is met:
   1. Stopped at breakeven.
   2. Trade first moves into overbought territory marked by an RSI readings of greater than 70 and then eventually drops from that zone. As soon as RSI declines below 70, sell at market on the close of that candle.

Rules for a Short Trade

1. RSI reading must be greater than 70.
2. Wait for a DOWN candle to form and close with an RSI reading of less than 70.
3. Go short at market on the open of the next candle.
4. Place the stop at the swing high.
5. Exit half of the position at 50% of the risk and immediately move the stop on the rest to breakeven.
6. Exit the rest of the position when one of the following conditions is met:
   1. Stopped at breakeven.
   2. Trade first moves into oversold territory marked by RSI readings of less than 30 and then eventually rises out of that zone. As soon as RSI increases above 30, buy at market on the close of that candle.

It seems that longer TF work better; as in daily, but the drawbacks can be quite large. The shorter 4H TF seems to work fairly well too. This is also something i would like to clarify with the EA. The RSI should be the default setting (14 on the close). Of course, if you find it working better on another setting, feel free to bring that up.