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Looking for simple RSI EA

  • #1
  • First Post: Sep 29, 2010 7:17am Sep 29, 2010 7:17am
Is there any EA that trades on RSI

How about this idea

Buy when RSI crosses 50 in UP
Sell when RSI crosses 50 in DOWN

Or

Buy when RSI crosses 52 in UP
Sell when RSI crosses 48 in DOWN

Or any other combination

If there is an EA please let me know
Thanks
  • #2
  • Sep 29, 2010 7:25am Sep 29, 2010 7:25am
too easy to work
Fuck Forex Factory
  • #3
  • Sep 29, 2010 7:46am Sep 29, 2010 7:46am
Quoting moksha
Is there any EA that trades on RSI

How about this idea

Buy when RSI crosses 50 in UP
Sell when RSI crosses 50 in DOWN

Or

Buy when RSI crosses 52 in UP
Sell when RSI crosses 48 in DOWN

Or any other combination

If there is an EA please let me know
Thanks
Its very easy to code such EA... but very difficult to make money with such ideas
  • #4
  • Sep 29, 2010 7:55am Sep 29, 2010 7:55am
Vikas Namaskar
Do you know how to code an EA?
  • #5
  • Sep 29, 2010 8:06am Sep 29, 2010 8:06am
Quoting moksha
Vikas Namaskar
Do you know how to code an EA?
No. I am not a programmer. But you can try this link...
http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/
or can googled forex strategy builder.
  • #6
  • Sep 29, 2010 8:58am Sep 29, 2010 8:58am
Hi Vikas
Why would it be too difficult to make money with this idea?
Any specific reasons
Have a look at the attached DJX index chart with 50% RSI

[IMG]file:///C:/Users/mj/AppData/Local/Temp/moz-screenshot-3.png[/IMG][IMG]file:///C:/Users/mj/AppData/Local/Temp/moz-screenshot-4.png[/IMG]
Attached File(s)
File Type: doc DJXRSI50.doc   193 KB | 1,109 downloads
  • #7
  • Sep 29, 2010 9:28am Sep 29, 2010 9:28am
It does work. My problem is when to exit the trade. Sometimes you can wait until it crosses back to the other side of 50 and not lose too much profit but sometimes you lose much more than you really should. It just depends if it's trending or not against you.
If you are using the daily chart you also have to be very patient. Sometimes it will range at the 50 level & that's when you should stay away. But knowing if it ranges there is the tricky part.
  • #8
  • Sep 29, 2010 9:50am Sep 29, 2010 9:50am
Have a look at the Daily Fozzy method. That may be in line for what you are looking at.
  • #9
  • Sep 29, 2010 10:06am Sep 29, 2010 10:06am
Quoting moksha
Hi Vikas
Why would it be too difficult to make money with this idea?
Any specific reasons
Have a look at the attached DJX index chart with 50% RSI

[IMG]file:///C:/Users/mj/AppData/Local/Temp/moz-screenshot-3.png[/IMG][IMG]file:///C:/Users/mj/AppData/Local/Temp/moz-screenshot-4.png[/IMG]
Hi..
One of the drawback of trading such crossover strategy with EA is that it generates many false signals which may wipe out your account balance.
  • #10
  • Sep 30, 2010 3:41am Sep 30, 2010 3:41am
So is there a EA that is easily available?
  • #11
  • Sep 30, 2010 8:29am Sep 30, 2010 8:29am
Vikas
When you say " EA is that it generates many false signals which may wipe out your account balance."
Do you mean ( using LOng example)
This method will get MORE trades which get you in to Long when RSI crosses 50 but then goes down
THAN trade which after keep going well beyond 50 without dropping?

Also somebody mentioned weekly .. I am currently studying it on 15 min charts , quick trades

Please advice further
  • #12
  • Sep 30, 2010 10:06am Sep 30, 2010 10:06am
Moksha,

in a ranging market the price goes up and down hitting your stoplosses. rsi may be going up and down too. no need for EA. just add rsi indicator on any chart, you will understand

learn price action. get rid of indicators. if it was so simple as buying on rsi 50, everybody would be doing that only. follow j16 thread, understand candle stick patterns. there are several threads on this PA.
  • #13
  • Nov 13, 2010 11:33pm Nov 13, 2010 11:33pm
Quoting moksha
Buy when RSI crosses 50 in UP
Sell when RSI crosses 50 in DOWN
This idea might work on a daily timeframe.

On a daily timeframe even if the price barely crosses the RSI 50 line you might still have + 10 pips after the spread.

No one wants to sit around watching a daily chart so a RSI EA (based on the above rules) might be worth a try.

Just keep the take profit low, and/or have a partial order feature so part of the trade can be closed after 10 pips, and the rest left to ride trend in case there is one.
  • #14
  • Mar 12, 2012 1:21am Mar 12, 2012 1:21am
The problem with the FXCM RSI Oscillator EA is that it closes trades when you cross the opposite threshhold you set for opening/closing. A solution is to set it to open OR sell only and set the other level for 50. For excample set the buy level to 58 and the sell level to 50 AND set the EA to buy only. If you have a hedging account you can set up a sell ony EA on another chart... I use E/U 15m and 30m charts with this EA to open trades.

Thanks to FXCM for giving us this nice EA.
  • #15
  • Mar 12, 2012 4:22am Mar 12, 2012 4:22am
If the daily charts are used at your hand, patience is necessary. Maybe it will range at the 50 level and you should stay away from this position.
  • #16
  • Mar 20, 2012 5:08am Mar 20, 2012 5:08am
I created a simple RSI EA template that does what the OP requires and may be used as a template for other types of Expert Advisors. The article How to create a simple MT4 expert advisor that trades once per bar covers the issues related to using an indicator in an EA, referencing a different time period within the code and only placing one trade per bar to limit whipsaws. The article also discusses how to deal with some of the errors that can occur when placing an order with OrderSend().
Quote
By setting the buy threshold to 70, buy orders are created when the RSI crosses above 70. When the RSI crosses below 30 the sell condition is triggered and a sell trade is placed.
The EA trades in a stop and reverse manner (code available).
  • #17
  • Jul 5, 2013 1:55am Jul 5, 2013 1:55am
RSI ea



I need an EA that will open a buy when the RSI drops to at or around the 33 RSI and close the trade when up at or around the 68 RSI

Does anyone know of one?
many thanks.
  • #18
  • Mar 26, 2015 10:38am Mar 26, 2015 10:38am
Quoting EventHorizon
RSI ea I need an EA that will open a buy when the RSI drops to at or around the 33 RSI and close the trade when up at or around the 68 RSI Does anyone know of one? many thanks.
try this
http://www.forexfactory.com/attachme...5&d=1246807260
  • #19
  • Oct 26, 2019 7:02am Oct 26, 2019 7:02am
Hi Guys

i dont know if you can help with that or not, this ea works fine on Strategy testing but not on a demo account, i don't understand why , i have activated the DLL and live trading and also on the options of MT4 as well , other EA works fine on the MT4 but only this one .

i have tried diffrent Brokers XM, oanda , fxopen and icmarket same issue.


Can you please help me it's a great EA and i really want to try it.
Attached File(s)
File Type: ex4 PZ RSI Trader EA.ex4   50 KB | 962 downloads
  • #20
  • Mar 12, 2024 11:42pm Mar 12, 2024 11:42pm
Hi Friends,
Post #1 strategy is good. TP and SL are also will be in levels.

Buy above 52, Stoploss is 50, Take Profit is 60
Sell below 48, Stoploss is 50, Take Profit is 40

These RSI levels are variables, need in INPUT

If anybody make this EA, welcome.
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