This repository provides a collection of Expert Advisors for MetaTrader 5 and Python trading scripts developed for an educational YouTube series. It features various technical indicator-based strategies, including MACD, Relative Strength Index, Stochastic, and Bollinger Bands. The included MQL5 files implement multi-ti
Collection · MT5
MQL5 Sample RSI Expert Advisors
This collection includes four MetaTrader 5 expert advisors designed to demonstrate basic algorithmic trading using the Relative Strength Index.
GitHub stars2
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Last update3 years ago29 Nov 2022
LicenceNone stated
Overview
The repository provides separate scripts for long and short entries, with options to evaluate trade signals either on a per-tick basis or only upon candle completion. Each expert advisor allows users to configure RSI periods and levels alongside standard risk controls, including fixed point-based stop loss and take profit orders and a total dollar loss limit. The scripts serve as educational templates for developers learning MQL5.
- RSI based overbought and oversold entries
- Bar-based or tick-based signal evaluation
- Hard stop loss and take profit levels
- Total account loss limit in dollars
Details
Author
sambaye on GitHub
Type
Collection
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion
Markets
Forex
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Topics
algorithmsforex-tradingmql5trading-bot
Input parameters
Read from RSI_Bar_Entry_Sell.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
LossLimit | int | 2000 | Loss Limit in dollars |
Lot_Size | double | 0.01 | |
InpTakeProfitPts | int | 35000 | Take profit points |
InpStopLossPts | int | 20000 | Stop loss points |
InpTradeComment | string | __FILE__ | Trade comment |
InpMagicNumber | int | 2000011 | Magic number |
RSI_Sell_Value | double | 68 | |
RSI_Period | int | 14 | |
RsiLookBack | int | 0 | |
PositionsTotals | int | 2 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone sambaye/MQL5_Sample_Expert_Advisors 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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