Two MA one RSI Advisor for MT5
Technical analysis has certain established rules for using tools, which are described in dozens of books and on various information resources.
The reality is that the appearance of a pattern or indicator line intersection does not guarantee that the price will move in the desired direction.
Unfortunately, most beginners regard the rules for using indicators as some kind of rigid axiom, depriving themselves of imagination and flexibility.
However, not all traders are so conservative in their views, and this allows for the creation of entirely new strategies and Forex advisors based on well-known indicators.
The Two MA one RSI advisor is a fully automated trading expert advisor for version 5 of the trading terminal, built on an indicator strategy using two moving averages and the relative strength index.
Two MA one RSI can safely be classified as a conservative trading robot, as it does not use dangerous and high-risk capital management models .
It is also worth noting that Two MA one RSI can be configured both as a scalper for trading on a five-minute chart and as a long-term expert advisor for trading on a daily chart.
Installing the Two MA one RSI Advisor
The Two MA one RSI advisor is somewhat of a novelty in the field of advisor creation, as the expert was implemented in 2018.
It's worth noting that Two MA one RSI has been distributed entirely free of charge since its inception, and it was even included in the official MT5 developer library. Therefore, there are two ways to install this robot.
The first and simplest method, which does not require an advisor file, is done directly through the built-in library in your MT5.
To start downloading using this method, launch your trading platform and then scroll to the bottom of the "Tools" panel.
Go to the Library tab and perform a basic sort to display only advisors. In the sorted list, find "Two MA One RSI" and use the additional menu, as shown in the image below, to download:
If installation has caused any difficulties, you can use the standard setup.
To do this, scroll to the end of the article and download the robot file. The next step is to simply place the downloaded file in the appropriate folder in the terminal's data directory, specifically the folder named "Expert.
" After installation, be sure to restart the trading terminal or refresh it in the "Navigator" panel, otherwise the EA will not appear in the list. To start trading, simply drag the name onto the currency pair chart.
Two MA one RSI Trading Strategy. Settings
As we already noted, the Two MA one RSI EA is based on a simple indicator trading strategy based on two moving averages and the RSI. The EA waits for the fast and slow moving averages to cross each other.
It then filters the resulting signal using the RSI indicator. The most interesting thing is that the robot enters into trades when the price enters the overbought zone for purchases, and the oversold zone for sales, which is the complete opposite of all the basics of trading using RSI.
The Fast: av. Period variable allows you to set the fast moving average period, while the Fast: type of price variable directly specifies its type.
The RSI: type of price variable allows you to select the prices used to calculate the RSI indicator. The RSI: level UP variable controls the buy level, while the RSI: level DOWN variable controls the sell level for the RSI indicator.
The Stop Loss and Take Profit variables allow you to change the profit and stop order in points, while the Trailing Stop variable allows you to set a trailing stop. The trailing stop step can be set in the Trailing Step variable.
The EA implements two lot calculation : static and dynamic. If you want the EA to trade a static lot, specify the position volume in the Lots variable.
If you want the EA to trade a dynamic lot, specify the risk percentage per trade of the entire deposit in the Risk field.
Backtesting:
The author of the Two MA one RSI advisor doesn't provide specific recommendations for currency pairs or time frames, but instead suggests custom optimization of the parameters for the desired asset.
Following these recommendations, we conducted a simple optimization and backtest of the advisor for 2017 on the hourly time frame of the EUR/USD currency pair. The testing results are shown in the image below:
In conclusion, it's worth noting that the Two MA one RSI advisor has truly great potential. However, like any other robot, it requires extensive optimization and testing of its settings.
Download the Two MA one RSI advisor .
