HR RSI Scalper Free

 The EA buys when RSI is overbought and sells when RSI is oversold with a 100 Point Profit Target and a 1000 Point Stop . If the result from the first trade is positive , the EA will open the next order in reverse , buying when the RSI is oversold and viceversa untill it gets a loss . If it gets a loss it reverses order direction again .

    The "HR" from the name comes from "High Risk" because if it gets, a loss it will recover it by increasing Lot size with the help of the implemented Recovery Factor which is set to 12 to recover the 1000 Points lost .

   The EA uses two levels of recovery , after which it does not increase lot size any more to prevent further losses .

     For the full version of the product you may try the professional version here .

Pairs : GPB/USD , AUD/USD , USD/JPY ;

Timeframe : H1 ;

Minimum recomended Balance : 500 USD ;

Parameters :

Lots - set to 0.01; TakeProfit, set to 100 Points ; StoLoss ,set to 1000 Points ; TrailingStop set to 0 ;

ManageLot set to false , correctly  calculated for accounts in USD ; RiskPercent ,set to 0.5 , not recomended to set above 1 ;

RecoveryFactor set to 12 ; RSIPeriod = 14 ; RSIUpperLevel and RSILowerLevel ; MagicNumber to differentiate from other EA's.

LotSize,TP,SL,TrailStop,LotManagement and Magic Number are fixed in the free version .