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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 ยท MT5
RSI WMA EA
This MetaTrader 5 expert advisor executes trades based on a combination of Relative Strength Index (RSI) and Weighted Moving Averages (WMA) across two timeframes.
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Last update1 year ago15 Dec 2024
LicenceNone stated
Overview
RSI WMA EA compares indicator values against defined buy and sell thresholds on a primary timeframe, with an optional trend filter from a higher timeframe. Risk management includes fixed lot sizing or a dollar-based trade value, two profit target ratios for trade scaling, and a partial closing mechanism. It also offers an optional trailing stop and limits the number of active trades per chart. The documentation is extremely minimal.
- Dual timeframe RSI and WMA analysis
- Configurable overbought and oversold thresholds
- Partial position closing at first profit target
- USD-based or fixed lot sizing
- Multiple profit target ratio settings
Details
Author
shahadatnovel on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion, Indicator crossover
Markets
Any symbol
Timeframes
Any timeframe
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 rsiwmav2.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
Indicator_Settings | string | ++++++++++++++++++++++++++ | |
RSI_WMA_TF1 | string | RSI WMA LOWER TF | |
RSI_Timeframe | ENUM_TIMEFRAMES | PERIOD_CURRENT | |
RSI_Period | int | 14 | |
RSI_Applied_Price | ENUM_APPLIED_PRICE | PRICE_CLOSE | |
WMA_METHOD | ENUM_MA_METHOD | MODE_LWMA | |
WMA_Period | int | 50 | |
EMA_Period | int | 20 | |
RSI_Threshold_Buy | double | 30.0 | |
RSI_Threshold_Sell | double | 70.0 | |
UseHigherTimeFrame | bool | true | Use RSI WMA HTF |
RSI_WMA_TF2 | string | RSI WMA HIGHER TF |
Show all 32 inputs
| Name | Type | Default | Description |
|---|---|---|---|
RSI_Timeframe2 | ENUM_TIMEFRAMES | PERIOD_CURRENT | |
RSI_Period2 | int | 14 | |
RSI_Applied_Price2 | ENUM_APPLIED_PRICE | PRICE_CLOSE | |
WMA_METHOD2 | ENUM_MA_METHOD | MODE_LWMA | |
WMA_Period2 | int | 50 | |
EMA_Period2 | int | 20 | |
RSI_Threshold_Buy2 | double | 30.0 | |
RSI_Threshold_Sell2 | double | 70.0 | |
EA_Settings | string | ++++++++++++++++++++++++++ | |
UseUSDAmountPerTrader | bool | false | Use USD Amount Per Trade |
Trade_Value_USD | double | 500.0 | USD amount per trade |
LotSize | double | 0.2 | Lot Size |
LotClosePartially | double | 50 | Partial Close Lot % |
Profit_Target_1_Ratio | double | 1.0 | First profit target ratio |
Profit_Target_2_Ratio | double | 3.0 | Second profit target ratio |
UseTrailingStop | bool | false | Use Trailing Stop |
Use_Last_High_Low_Price | bool | false | Use Last High/Low Price |
Trail_Trigger_Ratio | double | 1.0 | Trailing Stop Loss ratio |
MagicNumber | int | 1234 | Magic Number |
NumberOfActiveTradesPerChart | int | 5 | Number Of Active Trades Per Chart |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone shahadatnovel/RSIWMA_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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