Auto Trader with RSI EA
Logic:
- Trend-Following:
- Uses RSI (Relative Strength Index) to determine the trade direction.
- Buys when the RSI is above 55 and there are no open sell orders.
- Sells when the RSI is below 45 and there are no open buy orders.
- RSI Indicator:
- Calculates the average RSI over the last 21 periods to smooth out short-term fluctuations.
- Uses the RSI to open and close positions based on defined thresholds.
- Order Management:
- Implements dynamic lot sizing based on account balance and risk percentage.
- Uses trailing stop to secure profits when the price moves favorably.
- Allows for both fixed and variable lot sizes depending on the configuration.
- Closes positions based on RSI signals if the CloseBySignal option is enabled.
- Trailing Stop:
- Adjusts stop loss dynamically to lock in profits as the trade progresses.
- Dynamic Lot Sizing:
- Adjusts the lot size based on account balance and specified risk percentage.
- Allows for both fixed and variable lot sizes depending on the configuration.
