The simplest Expert Advisor based on RSI. Sells at a downward crossing of an oscillator overbought level, buys at an upward crossing of an oscillator oversold level. The entry signal is formed when a bar is closing if the level is crossed.
Note that the TradeAlgorithms.mqh library file allows using Expert Advisors with brokers who offer nonzero spread and the option of setting Stop Loss and Take Profit together with position opening. You can download more variants of the library at the following link: Trade Algorithms.
Default Expert Advisor’s input parameters have been used during the tests shown below. Stop Loss and Take Profit have not been used during the tests.
Originally this EA has been written in MQL4 and was first published in the Code Base on 04.08.2016.
