The primary EA uses the Relative Strength Index to identify overbought and oversold conditions for trade entry. It manages risk through fixed stop loss and take profit settings, alongside a maximum position limit to control exposure. Other strategies in the collection include MACD crossovers, Bollinger Band breakouts, and multi-indicator scalping setups. The repository lacks a README file, so users must rely on the source code for strategy parameters and operational logic.
Read from RSI_V5.mq5. Defaults are the author's; change them in the EA's Inputs tab.
Name
Type
Default
Description
InpVolumeLotOrRisk
double
0.01
The value for "Money management"
InpStopLoss
uint
200
Stop Loss (SL)
InpTakeProfit
uint
200
Take Profit (TP)
InpMaxPositions
uchar
10
Maximum number of positions ('0' -> OFF)
InpShift
uchar
2
Shift in bars (from 1 to 255)
InpMagic
ulong
270656969
magic number
Inp_RSI_ma_period
int
30
RSI: averaging period
Inp_RSI_applied_price
ENUM_APPLIED_PRICE
PRICE_WEIGHTED
RSI: type of price
Inp_RSI_LevelUP
double
80
RSI Fast and Slow: Level UP
Inp_RSI_LevelDOWN
double
20
RSI Fast and Slow: Level DOWN
Inp_RSI_stringUP
string
Signal Sell
RSI Fast and Slow: Level UP label
Inp_RSI_stringDOWN
string
Signal Buy
RSI Fast and Slow: Level DOWN label
How to install it
1Download the sourceUse "Download source (.zip)" above, or clone tHeStRyNg/mt5_mql5_eas from GitHub, and unzip it.
2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
3Copy the filesCopy the .mq5 file into Experts.
4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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