This MetaTrader 4 expert advisor operates two concurrent strategy groups based on technical indicators. It primarily utilizes Bollinger Bands and Envelopes to identify market entries for automated trading. The robot employs a position scaling approach, using lot multipliers and fixed-distance grid additions to manage t
Trading robot · MT4
RSI Grid
This MetaTrader 4 expert advisor executes a mean-reversion strategy driven by the Relative Strength Index.
High risk
GitHub stars1
Forks0
Last update6 years ago5 Oct 2019
LicenceNone stated
Overview
RSI Grid enters trades when the RSI indicates overextended price levels and manages them using a grid-based approach. The EA scales lot sizes using a martingale factor and allows for position layering at specified distances. Risk is managed via a maximum position limit and an emergency exit function triggered by a specific balance-to-equity ratio. The source code includes an option for lot auto-scaling as the account grows, although the repository lacks a descriptive README.
- RSI overbought and oversold entry triggers
- Martingale lot scaling with configurable multiplier
- Grid position layering with minimum distance logic
- Emergency equity-to-balance ratio protection
- Automated lot sizing based on account balance
Details
Author
jensengelke on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Mean reversion, Grid, Martingale
Markets
Any symbol
Timeframes
M1-M5, M15-H1
Risk profile
- Uses martingale lot scaling: losses can grow fast
- Opens a grid of orders: exposure builds up in a trend
- Trades without a fixed stop loss
Input parameters
Read from rsi_grid.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
label0 | string | | +--- admin ---+ |
myMagic | int | 1 | |
tracelevel | int | 2 | |
backtest | bool | true | display balance and equity in chart |
chartLabel | string | RSI grid | |
label1 | string | | +--- entry signal ---+ |
rsiPeriod | int | 6 | |
rsiDistance | double | 15.0 | RSI threshold in % from upper and lower end |
label2 | string | | +--- money management ---+ |
lots | double | 0.01 | |
maxPositions | int | 6 | max number of positions |
tpPoints | double | 400 |
Show all 18 inputs
| Name | Type | Default | Description |
|---|---|---|---|
martingaleFactor | double | 2.5 | |
martingaleMinDistance | double | 100 | |
increaseSizeEvery | double | 1500.0 | auto-scale (initial account size or 0.0 to disable) |
emergencyExitRatio | double | 0.6 | emergency exit: balance/equity ratio (0.0 to disable) |
pyramide | bool | true | new position size in profit |
abortInEmergency | bool | true |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone jensengelke/MT4-prod from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 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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