/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------+
//| XRSI47 |
//+------------------------+
//
/*
Theory of operation
-------------------
This is a scalping expert based on cross of RSI4 & RSI7
This is a STOP/REVERSE system (which means always-in)
(This is probably going to need a pip filter for chop)
TIME FRAME
----------
5 MINUTES
SUGGESTED PAIRS
---------------
GBPUSD
ENTRY LONG
----------
RSI4([2]) less than RSI7(Bar[2]) and RSI4(bar[1]) greater than RSI7(Bar[1])
ENTRY SHORT
-----------
RSI4([2]) greater than RSI7(Bar[2]) and RSI4(bar[1]) less than RSI7(Bar[1])
EXIT
----
Sell on cross and take opposite trade
MONEY MANAGEMENT
----------------
-none-
RISK MANAGEMENT
---------------
-none-
FAILURE PROTECTION
------------------
Orders are opened with stoploss and takeprofit of 50
since it's unlikely to affect scalping, and is safe
enough in case of power failure or the internet disruption
*/
#property copyright "George Toffolo - MT4 code by Ron Thompson"
#property link "http://www.lightpatch.com/forex"
/*
For RSIType, use the following:
-------------------------------
PRICE_CLOSE 0 Close price.
PRICE_OPEN 1 Open price.
PRICE_HIGH 2 High price.
PRICE_LOW 3 Low price.
PRICE_MEDIAN 4 Median price, (high+low)/2.
PRICE_TYPICAL 5 Typical price, (high+low+close)/3.
PRICE_WEIGHTED 6 Weighted close price, (high+low+close+close)/4.
*/
// generic user input
extern double Lots=0.1;
extern int Slippage=2;
extern int RSISlow=4;
extern int RSIFast=7;
extern int RSIType=6;
//+------------------------------------+
//| EA load code |
//+------------------------------------+
int init()
{
Print("Init happened");
}
//+------------------------------------+
//| EA unload code |
//+------------------------------------+
int deinit()
{
Print("DE-Init happened");
Comment(" ");
}
//+------------------------------------+
//| EA main code |
//+------------------------------------+
int start()
{
double p=Point();
int cnt=0;
int OrdersPerSymbol=0;
double pRSI4=0, RSI4=0;
double pRSI7=0, RSI7=0;
bool Rising=false, Falling=false;
string TradeComment = "XRSI47";
// Error checking & bar counting
if(AccountFreeMargin()<(1000*Lots)) {Print("-----NO MONEY"); return(0);}
if(Bars<100) {Print("-----NO BARS "); return(0);}
// 2-period moving average on Bar[2]
RSI4=iRSI(Symbol(),0,RSIFast,RSIType,0);
pRSI4=iRSI(Symbol(),0,RSIFast,RSIType,1);
RSI7=iRSI(Symbol(),0,RSISlow,RSIType,0);
pRSI7=iRSI(Symbol(),0,RSISlow,RSIType,1);
// Determine if there was a cross
if(pRSI4<pRSI7 && RSI4>RSI7) {Rising=true; Falling=false;}
if(pRSI4>pRSI7 && RSI4<RSI7) {Rising=false; Falling=true;}
// count the open orders for this symbol
OrdersPerSymbol=0;
for(cnt=OrdersTotal();cnt>=0;cnt--)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if ( OrderSymbol() == Symbol())
{
OrdersPerSymbol++;
}
}
// Initial order placement
if(OrdersPerSymbol==0)
{
//ENTRY Ask(buy, long)
if(Rising)
{
OrderSend(Symbol(),OP_BUY,Lots,Ask,Slippage,Ask-(50*p),Ask+(50*p),TradeComment,10101,White);
Print("Initial BUY");
}
//ENTRY Bid (sell, short)
if(Falling)
{
OrderSend(Symbol(),OP_SELL,Lots,Bid,Slippage,Bid+(50*p),Bid-(50*p),TradeComment,10101,Red);
Print("Initial SELL");
}
} //if
// Existing order, determine if direction changed
for(cnt=OrdersTotal();cnt>=0;cnt--)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if ( OrderSymbol()==Symbol())
{
// RSI crossed down, so swap BUY for SELL
if (OrderType() == OP_BUY && Falling)
{
OrderClose(OrderTicket(),Lots,Bid,Slippage,White);
OrderSend(Symbol(),OP_SELL,Lots,Bid,Slippage,Bid+(50*p),Bid-(50*p),TradeComment,10101,Red);
} // if BUY
// RSI crossed up, so swap SELL for BUY
if (OrderType() == OP_SELL && Rising)
{
OrderClose(OrderTicket(),Lots,Ask,Slippage,Red);
OrderSend(Symbol(),OP_BUY,Lots,Ask,Slippage,Ask-(50*p),Ask+(50*p),TradeComment,10101,White);
} //if SELL
}//if OrderSymbol...
}//for
return(0);
} // start()
Sample
Analysis
Market Information Used:
Indicator Curves created:
Indicators Used:
Relative strength index
Custom Indicators Used:
Order Management characteristics:
Checks for the total of open orders
It automatically opens orders when conditions are reached
It Closes Orders by itself
Other Features: