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 · MT5
Simple RSI Expert
This MetaTrader 5 expert advisor executes trades based on Relative Strength Index (RSI) levels.
GitHub stars2
Forks0
Last update5 years ago14 Oct 2020
LicenceNone stated
Overview
Simple RSI Expert enters long positions when the RSI is below a specified low point and the previous candle closed bullish, while short positions are triggered when the RSI is above a high point and the previous candle closed bearish. The robot manages risk using fixed point-based stop loss and take profit orders for every trade. It enforces a single-position limit, ensuring no new trades are opened while an existing position is active. The provided README is empty.
- RSI overbought and oversold detection
- Point-based stop loss and take profit
- Single position limit logic
- Bullish and bearish candle confirmation
Details
Author
emvadov on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion
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 SimpleRSI.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
lowRSI | double | 30 | LOW RSI - BUY POINT |
highRSI | double | 70 | HIGH RSI - SELL POINT |
stopLoss | double | 200 | STOP LOSS POINTS |
takeProfit | double | 400 | TAKE PROFIT POINTS |
lotSize | double | 0.01 | TRADING LOT SIZE (1 = 100,000$) |
periodRSI | int | 14 | RSI PERIOD - BY DEFAULT 14 CANDLES |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone emvadov/MQL5-SIMPLE-EXPERTS 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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