Larry Conners RSI 2 – expert for MetaTrader 5
This Expert Advisor uses three indicators, RSI (Relative Strength Index), fast Moving Average (5 period), slow Moving Average (200 period).
The Idea of this strategy is to determine the general trend by using the slow Moving Average (MA 200). Then buy on the dips and sell on the rises.
Long Entry Rules
- RSI (2 period) is less than 6.
- Close of previous candle is greater than slow Moving Average.
Long Exit Rules
- Close is greater than fast Moving Average.
Short Entry Rules
- RSI (2 period) is greater than 95.
- Close of previous candle is less than slow Moving Average.
Short Exit Rules
- Close is less than fast Moving Average.
input double lot = 1; //Lots input int shortSmaPeriods = 5; //Fast MA period input int longSmaPeriods = 200; //Slow MA period input int RSIPeriods = 2; //RSI Period input int RSILongEntry = 6; //RSI Long Entry input int RSIShortEntry = 95; //RSI Short Entry input int slippage=3; input bool useStopLoss=true; //Use Stop Loss input double stopLossPips=30; //Stop Loss (pips) input bool useTakeProfit=true; //Use Take Profit input double takeProfitPips=60; //Take Profit (pips)
Best results on the EUR/USD pair 1H timeframe. Play with inputs to find your desired results.
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