EAVN005 Relative Strength Index

EAVN005 Relative Strength Index

EAVN005 – Trading with RSI Indicator

"The image in Tap Screenshots shows the result of an optimization for XAUUSD on the M15 timeframe, configured with BUY-only settings. You may consider adjusting the parameters when trading XAUUSD, as the recent trend favors opening BUY orders."

⚙️ Installation Guide

General Settings

1. EA Name: The name of the Expert Advisor.

2. Magic Number: Assign a unique Magic Number for each chart to prevent order conflicts.

Trading Settings

3. Position Options: Select whether to open BUY or SELL orders manually.

4. Lot Size: Default is 0.01. Can be adjusted to increase trade volume.

5. Lot Step Cycle (0 = off): Enables DCA (Dollar-Cost Averaging) strategy. Example: Lot Step Cycle = 3

   • Buy 1: 0.01

   • Buy 2: 0.01

   • Buy 3: 0.01

   • Buy 4: 0.02 (increased by lot step)

Strategy Settings

6. Open Position Method:

   • In Oversold Zone / In Overbought Zone

   • Out of Oversold Zone / Out of Overbought Zone

7. RSI Period: 14

8. RSI MA Period: 7 (Moving Average of RSI value)

9. RSI Oversold Level: 30

10. RSI Overbought Level: 70

11. RSI Applied Price: Close Price

Account Protection

12. Take Profit Mode: Choose between "Take Profit on Target" or "Take Profit Early".

13. Close Position for Minimum Profit (USD): Closes trades when a minimum profit in USD is reached.

14. Close Position When Margin Free < 50%: If enabled, the EA will close all trades when free margin drops below 50% of the account balance to protect capital.

Information Display

15. Show/Hide Indicator: Toggle true/false to display or hide EA indicators. Recommended to keep enabled for better monitoring.

16. Show/Hide Panel: Toggle true/false to display account information. Recommended to keep enabled.