RSI Martingale EA: Free MT5 Expert Advisor

Overview

RSI Martingale EA opens an initial position when RSI reaches overbought or oversold thresholds. If price continues to move against the initial trade, the EA layers additional orders at set point intervals, multiplying the volume for each subsequent entry. The system manages trades as a single basket, automatically calculating a common take profit level to exit the sequence. It lacks a traditional stop loss mechanism.

RSI indicator entry filter

Configurable lot size multiplier

Fixed-distance trade layering

Dynamic basket take profit management

Details

Author

peefpee on GitHub

Type

Trading robot

Platform

MetaTrader 5 (MQL5)

Strategy

Martingale, Mean reversion, Grid

Markets

Any symbol

Timeframes

Any timeframe

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

EA Files

MartingaleRSI_EA.mq5

Source

github.com/peefpee/mt5-martingale-ea

Input Parameters

Read from MartingaleRSI_EA.mq5. Defaults are the author's; change them in the EA's Inputs tab.

Name	Type	Default	Description
`RSI_Period`	`int`	`14`	RSI Period
`RSI_Price`	`ENUM_APPLIED_PRICE`	`PRICE_CLOSE`	RSI Applied Price
`RSI_Overbought`	`double`	`70`	RSI Overbought level (sell signal)
`RSI_Oversold`	`double`	`30`	RSI Oversold level (buy signal)
`FirstLotSize`	`double`	`0.01`	First lot size
`Multiplier`	`double`	`2.0`	Lot size multiplier
`PointDifference`	`int`	`200`	Point difference for next entry
`TakeProfit`	`double`	`100`	Take profit in points
`MagicNumber`	`int`	`12345`	Magic number
`Comment`	`string`	`RSI Martingale`	Order comment

How to Install It

1Download the sourceUse "Download source (.zip)" above, or clone peefpee/mt5-martingale-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.

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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