EA31337 Libre is an open-source, multi-strategy trading robot for MetaTrader 4 and MetaTrader 5. It functions as a simplified implementation of the EA31337 framework, providing a collection of over 35 built-in strategies based on technical indicators. The expert advisor performs independent market analysis across vario
Trading robot · MT5
RSI EA
RSI EA is a MetaTrader 5 robot designed to execute trades based on the Relative Strength Index indicator.
GitHub stars14
Forks6
Last update2 years ago4 Mar 2024
LicenceApache-2.0
Latest release1.002 years ago
Overview
RSI EA functions as a template for mean-reversion strategies, triggering entries when the indicator crosses specific overbought and oversold thresholds. The expert advisor features comprehensive risk controls, including fixed or percentage-based position sizing and ATR-based exit levels. Users can configure fixed stop-loss and take-profit points, partial closing logic, and maximum spread filters. It also includes a time filter to restrict trading to specific hours and a limit on the maximum number of concurrent positions.
- RSI overbought and oversold entry signals
- ATR-based stop loss and take profit
- Percentage-based position sizing
- Partial close functionality
- Trading hours and spread filters
Details
Author
EarnForex on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Trades without a fixed stop loss
EA files
Topics
expert-advisorforexforex-marketforex-tradingindicatormetatradermetatrader5mql5mt5robot
Input parameters
Read from RSI EA.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Comment_0 | string | ========== | EA-Specific Parameters |
RSIPeriod | int | 14 | RSI period |
RSIOverbought | double | 80 | RSI overbought level |
RSIOversold | double | 20 | RSI oversold level |
RSIPrice | ENUM_APPLIED_PRICE | PRICE_CLOSE | RSI applied price |
Comment_1 | string | ========== | Trading Hours Settings |
UseTradingHours | bool | false | Limit trading hours |
TradingHourStart | ENUM_HOUR | h07 | Trading start hour (Broker server hour) |
TradingHourEnd | ENUM_HOUR | h19 | Trading end hour (Broker server hour) |
Comment_2 | string | ========== | ATR Settings |
ATRPeriod | int | 100 | ATR period |
ATRTimeFrame | ENUM_TIMEFRAMES | PERIOD_CURRENT | ATR timeframe |
Show all 40 inputs
| Name | Type | Default | Description |
|---|---|---|---|
ATRMultiplierSL | double | 2 | ATR multiplier for stop-loss |
ATRMultiplierTP | double | 3 | ATR multiplier for take-profit |
Comment_a | string | ========== | Risk Management Settings |
RiskDefaultSize | ENUM_RISK_DEFAULT_SIZE | RISK_DEFAULT_FIXED | Position size mode |
DefaultLotSize | double | 0.1 | Position size (if fixed or if no stop loss defined) |
RiskBase | ENUM_RISK_BASE | RISK_BASE_BALANCE | Risk base |
MaxRiskPerTrade | int | 2 | Percentage to risk each trade |
MinLotSize | double | 0.01 | Minimum position size allowed |
MaxLotSize | double | 100 | Maximum position size allowed |
MaxPositions | int | 1 | Maximum number of positions for this EA |
Comment_b | string | ========== | Stop-Loss and Take-Profit Settings |
StopLossMode | ENUM_MODE_SL | SL_FIXED | Stop-loss mode |
DefaultStopLoss | int | 0 | Default stop-loss in points (0 = no stop-loss) |
MinStopLoss | int | 0 | Minimum allowed stop-loss in points |
MaxStopLoss | int | 5000 | Maximum allowed stop-loss in points |
TakeProfitMode | ENUM_MODE_TP | TP_FIXED | Take-profit mode |
DefaultTakeProfit | int | 0 | Default take-profit in points (0 = no take-profit) |
MinTakeProfit | int | 0 | Minimum allowed take-profit in points |
MaxTakeProfit | int | 5000 | Maximum allowed take-profit in points |
Comment_c | string | ========== | Partial Close Settings |
UsePartialClose | bool | false | Use partial close |
PartialClosePerc | double | 50 | Partial close percentage |
ATRMultiplierPC | double | 1 | ATR multiplier for partial close |
Comment_d | string | ========== | Additional Settings |
MagicNumber | int | 0 | Magic number |
OrderNote | string | | Comment for orders |
Slippage | int | 5 | Slippage in points |
MaxSpread | int | 50 | Maximum allowed spread to trade, in points |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone EarnForex/RSI-EA 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, and any .mqh files into the Include folder the code expects.
- 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.
Similar expert advisors
An automated MetaTrader 5 expert advisor that executes a bi-directional grid trading strategy. It uses the Average True Range (ATR) indicator to dynamically calculate grid spacing, allowing the system to adapt to current market volatility. The robot supports neutral, bullish, and bearish modes. It includes risk managem
This MetaTrader 5 expert advisor serves as an educational example from a book on MQL5 programming. It implements a versatile trading system that can be configured to use moving average crossovers, Relative Strength Index levels, or both indicators combined for trade entries. The EA manages risk with user-defined stop l
Spike Trader is a price action robot for MetaTrader 4 and 5 that identifies price spikes to trade market reversals. It monitors candle highs or lows relative to preceding bars and requires a specific percentage price jump and candle close position to trigger an entry. The EA enters trades in the opposite direction of t
Allegro Stormer is a MetaTrader 5 expert advisor that implements a specific technical setup based on momentum and oscillator indicators. It utilizes a Momentum indicator filtered by a moving average alongside a Stochastic Oscillator to identify entry points. Risk management is centralized around the Average True Range,
Scalpflip EA is an automated scalping robot for MetaTrader 5 that utilizes a multi-layered technical analysis approach. It offers three entry modes: trend-following, mean-reversion, and a smart mode that selects the strategy based on current market conditions. The system filters trades using the Relative Strength Index
Need a broker for MT5?
Compare regulated brokers that support MetaTrader, with spreads, minimum deposits and leverage side by side.
Compare brokers