Conservative Scalper EA is a MetaTrader 4 robot designed for intraday scalping on major currency pairs such as EURUSD, GBPUSD, and USDJPY. It determines market bias on the M15 timeframe using dual Exponential Moving Averages and enters trades on the M5 chart based on RSI levels and candle breakouts. The system prioriti
Trading robot · MT4
RSI Trading System
Lester John's RSI Trading System is an automated expert advisor for MetaTrader 4.
GitHub stars1
Forks0
Last update9 years ago19 Apr 2017
LicenceNone stated
Overview
RSI Trading System utilizes a combination of technical indicators, including Bollinger Bands, RSI, MACD, and Momentum, to identify trade entries. The EA executes limit orders based on two primary triggers: a price-momentum-RSI confluence and MACD signal crossovers. It operates primarily on the M5 timeframe according to hardcoded parameters in the source code. Risk management is handled through a trailing stop function, though few parameters are exposed as user inputs. The repository contains no README file or user documentation.
- Multi-indicator entry signal logic
- Momentum and RSI trend filtering
- MACD signal line crossover detection
- Automated trailing stop function
Details
Author
LesterAJohn on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Indicator crossover, Scalping
Markets
Any symbol
Timeframes
M1-M5
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
Input parameters
Read from rsi.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
BB_period | int | 20 | |
BB_dev | double | 2 |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone LesterAJohn/RSI-TradingSystem 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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