RSI MFI Trading Algorithm: Free MT4 Expert Advisor

Overview

RSI MFI Trading Algorithm evaluates market conditions across six timeframes simultaneously, ranging from one-minute to four-hour charts. The logic triggers when both indicators reach specific overbought or oversold thresholds on EURUSD, GBPUSD, or XAUUSD. In its current form, the tool functions as a signal generator, providing desktop alerts and mobile push notifications to the user rather than executing automated trades. The README notes that further interface improvements and scalping settings are planned.

Simultaneous RSI and MFI indicator analysis

Multi-symbol scanning for XAUUSD, EURUSD, and GBPUSD

Multi-timeframe monitoring from M1 to H4

Desktop and mobile push notification alerts

Details

Author

mertz1999 on GitHub

Type

Utility

Platform

MetaTrader 4 (MQL4)

Strategy

Mean reversion

Markets

Forex, Gold

Timeframes

M1-M5, M15-H1, H4 and above

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

RSIMFI_NEW.mq4

Source

github.com/mertz1999/RSIMFI_trading

How to install it

1Download the sourceUse "Download source (.zip)" above, or clone mertz1999/RSIMFI_trading 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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