A MetaTrader 4 Forex EA with RSI Half-Scalping and Risk Limits
Summary
The document describes Roboost, a MetaTrader 4 expert advisor for major forex pairs on an hourly timeframe. It combines ideas from common forex robots, including RSI-based half-scalping, and can run on multiple pairs with separate settings. Its configurable safeguards include a maximum lot size, stop losses, restricted trading hours, a spread ceiling, and pending orders. An optional sizing feature adjusts trade size according to remaining equity, which means positions across simultaneously traded pairs affect one another.
The document gives suggested initial testing conditions, including EURUSD and a two-year period, but provides no performance results or detailed entry and exit rules. It presents the software as a beta template supplied as-is, and advises further development and extensive testing before live use. Its limits are material: the strategy is not established as profitable, and the stated risk controls do not remove trading risk.
Key ideas
- Roboost is an hourly MetaTrader 4 forex EA that uses RSI-related scalping ideas.
- Risk controls include stop losses, lot caps, trading-hour limits, spread filters, and pending orders.
- Optional position sizing depends on remaining equity and can be affected by trades on other pairs.
- The EA is provided as a beta template without performance evidence and needs testing before live use.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.