RSI Overbought and Oversold Expert Advisor with Optional Trailing Stops
Summary
This document describes an Expert Advisor that uses the Relative Strength Index to open buy positions in oversold conditions and sell positions in overbought conditions. Its settings allow the trader to enable buys, sells, or both, and to choose whether positions close in response to the indicator signal. When signal-based closing is disabled, the document says stop-loss and take-profit levels must be set.
A later update adds an optional trailing stop, which operates only when its input is set above zero. The document gives no RSI thresholds, timeframe, exit-signal definition, position-sizing method, or performance evidence, so the rules are not sufficient to reproduce or assess a full trading system. It also provides no backtest or live-trading results. The description presents a basic threshold-based approach; its performance and risk depend on parameter choices and market conditions.
Key ideas
- The Expert Advisor buys when RSI indicates an oversold condition and sells when it indicates an overbought condition.
- Buy and sell entries can be enabled independently.
- Positions can close by signal, or require stop-loss and take-profit settings when signal closing is disabled.
- A trailing stop is optional and activates only when its input is greater than zero.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.