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What Is a Forex Trading Robot?
A forex trading robot is a colloquial term for algorithmic trading based on a set of forex market signals that helps determine whether to buy or sell a currency pair at a given point in time. These systems are often fully automated and integrate with online forex brokers or exchange platforms.
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RSI Trade EA MT4 trades using the RSI Indicator. It offers many customizable RSI trading scenarios and flexible position management settings, plus many useful features like customizable trading sessions, a martingale and inverse martingale mode. [ Most Popular Product | List of FREE Product | Installation Guide | Update Guide | Submit Your Problem | All Products ]
Easy to use and customizable RSI setting.
Enable Grid trading.
Customizable break-even, SL, TP and trailing-stop
Works for ECN/Non-ECN brokers
Implements a martingale features
Customizable indicator settings
Filter trading by forex sessions
Built-in money management
Built-in news filter. EA automatic download news data from news website.
The EA implements the following entry strategies, that can be enabled or disabled at will:
Trade when the RSI Indicator is oversold or overbought
Trade when the RSI comes back from an oversold or overbought condition
Four different trading behaviors are available in the EA inputs:
Both Side (Long and Short): The EA will buy at bullish signals and sell at bearish signals both trade
Any Single Side: Open any one trade which signal come first (Buy or Sell)
Long Side Only: The EA will buy at bullish signals and disregard bearish signals
Short Side Only: The EA will sell at bearish signals and disregard bullish signals
Additionally, it implements four different money management modes:
Trade manual lotsize: The EA will trade a fixed lotsize on each trade
Martingale: The EA will double the lotsize after a losing trade
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