RSI EA
Logic:
- Trend-Following:
- The EA utilizes moving averages (EMA) and the MACD to determine the trend direction.
- Buy signals are generated when the fast EMA is above the slow EMA and the RSI is below 30, indicating a potential upward trend.
- Sell signals are generated when the MACD main line crosses below the signal line, indicating a potential downward trend.
- Order Management:
- The EA checks for existing positions to ensure that it does not open multiple trades simultaneously for the same symbol.
- It employs a fixed lot size for trading but ensures that there is sufficient free margin before placing new trades.
- Trailing Stop:
- The EA adjusts the stop loss for open positions using a trailing stop mechanism.
- For buy positions, the stop loss is moved up as the price increases.
- For sell positions, the stop loss is moved down as the price decreases.
