MT5 RSI EA Trading Strategy That PRINTS Money

[BurtonM]

MT5 RSI EA Trading Strategy That PRINTS Money​

This title comes from a video by Ali Casey at StatOasis on YouTube,

Thank you Ali for sharing all your data analysis, and backtesting.

RSI Trading Strategy That PRINTS Money (Tested & Proven)

It is important you watch the video link above to understand the 2 EAs I have coded.

IMPORTANT: These MT5 EAs are developed and backtested on the S&P500 Daily timeframe.

All files are attached below this post for easy downloading.

I have coded 4 versions: MT4 version is here. Python version is here. TradingView version is here.

1st MT5 EA code, a simple RSI EA (The only difference is I added a StopLoss)

A simple RSI-based strategy that:

Enters long positions when RSI is below 25
Exits when RSI goes above 65 or after holding for 5 bars
Uses a fixed stop loss

Entry condition: if RSI < RSIEntryLevel
Exit condition: if RSI > RSIExitLevel || barCount >= MaxBarsHold

2nd MT5 EA code, a RSI_StdDev EA (The only difference is I added a StopLoss)

The RSI and StdDev strategy logic is:

Enters long when RSI is below entry level AND StdDev is rising
Exits when RSI goes above exit level OR after holding for maximum bars
Uses a fixed stop loss

Entry condition: if RSI < RSIEntryLevel & Standard Deviation (StdDev) is rising
Exit condition: if RSI > RSIExitLevel || barCount >= MaxBarsHold

IMPORTANT: Test the EAs on a Demo account to check that they are Opening & Closing trades correctly.

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