Advisor Two MA one RSI 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 intersections of indicator lines does not at all guarantee that the price will start moving in exactly the right direction.
However, most beginners, unfortunately, consider the rules for using indicators as some kind of unbreakable axiom, depriving themselves of imagination and the ability to maneuver.
However, not all traders are so conservative in their views, and this allows you to create completely new strategies and Forex advisors based on well-known indicators.
The Two MA one RSI Advisor is a fully automatic trading expert for the fifth version of the trading terminal, which is built on the basis of an indicator strategy using two moving averages and a relative strength index.
Two MA one RSI can be safely classified as a conservative trading robot, since the expert does not use dangerous and high-risk money 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 for trading on a daily chart.
Installing the Two MA one RSI advisor
The Two MA one RSI advisor is something of a novelty in the field of creating advisors, since the expert was implemented in 2018.
It is worth noting that from the first day of its existence, Two MA one RSI was distributed purely free of charge; moreover, it was placed in the official library of MT5 developers. Thus, installation of this robot is possible in two ways.
The first and easiest way, which does not require an advisor file, occurs directly through the built-in library in your MT5.
To start downloading using this method, launch your trading platform, then move to the very bottom in the “Tools” panel.
Go to the library tab and do a simple sorting so that only advisors are displayed in the list. In the sorted list, find Two MA one RSI and using. Download the additional menu as shown in the image below:
If installation in this way caused some difficulties, you can resort to the standard scheme.
To do this, go to the end of the article and download the robot file.
The next step is just to place the downloaded file in the appropriate folder of the terminal data directory, namely in the folder called Expert. After installation, be sure to restart the trading terminal or update it in the “Navigator” panel, otherwise the advisor will not appear in the list.
In order for it to start trading, just drag the name onto the chart of the currency pair. Trading strategy Two MA one RSI.
Settings As we have already noted, the Two MA one RSI advisor is built on the simplest indicator trading strategy, based on two moving averages, as well as RSI.
So the expert waits for the code when the fast and slow moving average intersect with each other. Then it filters the received signal using the RSI indicator.
The most interesting thing is that the robot concludes trades when the price enters the overbought zone for purchases, and the oversold zone for sales, which is a completely opposite approach to all the basics of trading using RSI.
So in the Fast variable: av.
Period you can set the period of the fast moving average, and in the Fast: type of price variable its type is directly specified. The RSI: type of price variable allows you to select at what prices the RSI indicator is calculated.
The RSI: level UP variable is responsible for the buy level, and the RSI: level DOWN variable is responsible for 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, and the Trailing Stop variable allows you to set the trailing.
The trailing stop step can be set in the Trailing Step variable. The advisor implements two options for calculating a lot , namely static and dynamic.
If you want the advisor to trade a static lot, then the position volume should be specified in the Lots variable. If you want the robot to trade a dynamic lot, then indicate the percentage of risk per trade of the entire deposit in the Risk line.
Backtesting
The author of the Two MA one RSI advisor does not give specific recommendations on currency pairs or time frames, but instead suggests making your own optimization of the parameters for the required asset.
Following the recommendations, we carried out the simplest optimization and testing of the advisor for 2017 on the hourly time frame of the Euro/Dollar currency pair. So, look at the test result in the image below:
In conclusion, it is worth noting that the Two MA one RSI advisor has really high potential.
However, like any other robot, it needs deep optimization and testing of settings. Download the Two MA one RSI advisor .