This is a multi-time frame RSI EA, it will execute trade base on RSI indicator crossing over the overbought line for buy signal, and crossing down the oversold line for sell signal in multi-time frame.
SELL \ BUY SIGNAL
All RSI indicators in 1minute, 5min,15min,30min and 1 hour time frame are below are below the oversold line of 45 or 30 for SELL signal, or above the OVERBOUGHT line of 55 or 70 for BUY signal. There will be a time filter before execution if we are to use current candle signal from all the time frame, but if it will be close candle signal there will be no time filter.
EXIT SIGNAL:
1. By take profit or trailing stop
2. By reverse signal
SPECIAL FEATURES
TRADE RE-ENTRY- I will like you to put an option to select for trade re-entry, lets assume that a take profit target is hit on sell signal, and after sometime all the time frames align again for another sell signal. I will like an option that will allow the ea to execute another sell order.
TAKE PROFIT EXTENSION- During sell or buy signal, I will a setting that will allow the ea to be extending take profit target, if the price is approaching the take profit and all the time frame signals are still on one trend, in this case the ea should extend the take profit with some setting amount of pips then use stop loss to trail the profits.
INPUTS:
1.Lot size=
2. Stop-loss=
3. Trailing stop-loss=
4. Use Daily Target =true or false
5. Daily target amount =
6. Spread monitor=
7. Money management= true or fale
8. Money management risk in percent =
9. Trade re-entry = true or false
10. Take profit extension= true or false
11. Take profit extension pip=
RSI SIGNAL SETTINGS
12. RSI TIME FRAME= 1MIN; 5MIN; 15MIN; 30MIN; 1HOUR;
13. RSI period=
14. RSI overbought level=
15. RSI oversold level=
16. RSI price=
17. RSI current or close signal selection ( if is current it will use time filter to delay the signal but if is close candle it execute trade if all the candles are close with the same signal)
18. Time delay for current signal= ( maximum of 1 minute
NEWS HOUR FILTER
19. Minute before an event to stay out of trading=
20. Minute after an event to enter trading= ( note, it will enter trade after an event if all the signals are align)
TIME FILTER
21. USE TIME FILTER= true or false
22. Start time=
23. Close time=
24. Monday start time=
25. Friday close time=
Note. Time frame can be 1 or 2 or 3 or 4 or 5.
You can INPUT other things which I may not remember, and re- arrange the INPUTS in a proper way. I only lay down what I needed.
Linkback: https://www.forex.zone/new-ea-coding/26/rsi-multi-time-frame-ea/639/