Super RSI MT5

Expert adviser  Super RSI MT5 enters the market by signals from RSI. Indicator RSI (Relative Strength Index) is one of the main oscillators used in technical analysis. This instrument helps to assess pricing dynamics against the previous values. RSI offers a chance to define the market sentiment and spot the points at which the market is overbought and oversold. It is also used to detect times when the price is about to reverse, and a new trend rises. Usually standard overbought and oversold levels are 70 and 30. If the indicator’s line goes above the 70 level, it signals that market is overbought and the trend may reverse downwards. If the indicator’s line goes below the level 30, it signifies that market is oversold and the trend may reverse upwards.

You find additional set files HERE including default

Features

• No dangerous trading techniques used
• Low draw down, stable and safe
• Much suitable for big capital accounts
• Single or multi charts trading
• Ability to trade reversed OB/OS
• Fast efficient code for faster operations in both trading and optimizations
• Orders always have take profit and stop loss(without the use of Reverse order close system)
• Always one order at a time/chart
• Signal reverse order close system
• If used, this system will close an open position upon new signal. Example if buy is open and sell signal - buy order will be closed either in loss or profit. This function also act as a virtual stop and take. Hard stop used instead for these orders in case a signal connection loss occur between terminal and broker.
• Works on any currency pair (  Optimization required) 
• Support Hedge accounts only
• Money management
• Virtual trailing stop
• Lowest possible initial deposit - $50 - $100 based on  1:500 leverage (Always test before use live)
• Recommended start deposit $300 if you going to trade multiple charts for example all majors
• Default settings ready to be deployed on EurUsd H1 chart

Reversal system vs main system

Main system uses order take profit and stop loss and if one of them get hit the order is closed and the adviser wait for a new signal. Reversal system act a bit different as it uses the signal system to close orders which also act as a virtual stop loss and take profit but no levels stored at the broker side. In this case a hard stop loss is used in case there are a longer connection error occur between terminal and broker server. If you have for example a buy order open and an incoming signal for sell the adviser immediately closes the buy order and open a sell order and so on. Using either Main or reversal has it's pros and cons. 

Indicator settings

• Fully adjustable - Overbought/oversold zones,working time frame,price type and period. By having external variable inputs available the range of usage widen.

Recommendations

• Super RSI works on any time frame but should be used on higher like H1-H4, best results and accuracy achieved on  H4. Frequency of trades can be more or less all depending on time frames and indicator settings. As a basic rule, risk should not exceed 2% in each trade and recommended to use. Using trailing stop could significant reduce performance and this is an individual function to use.

Optimizations

• Easy and fast to optimize - Main system (1) or Reversal system (2). All settings numbered (1 or 2) in which you easy pick corresponding setting and increment steps to optimize. Optimizations are done on 'Open prices' mode and periods between 6-12 months or when presence of losses begin to get greater then profits.

Adviser settings

• I refer to screenshots - I think all settings are kind of self explanatory. Any questions just ask!