RSI is used to identify overbought and oversold conditions, as well as divergence and hidden divergence signals. With Frustrader RSI ST Expert, you will not miss any point in your RSI-based strategy. **Note: You can test the product without registering, but follow the registration steps for full access to use the product.
RSI Strategy Expert is a Semi-Automatic trading Expert that is for those who use the RSI-based trading strategy.
- Strategy Method: The RSI Strategy Expert works in four Strategy Methods: 1.Enter Over Bought Sold 2.Exit Over Bought Sold 3.Hit Over Bought Sold 4.Follow The Trend
In close-break out mode, the position may be taken a little later and part of the profit may be lost. But it is also more reliable and produces fewer false signals.
1.Enter Over Bought Sold:
2.Exit Over Bought Sold:
3.Hit Over Bought Sold:
4.Follow The Trend:
Based on Selected Strategy Method, RSI Period, Upper & Lower level input can be entered.
Applied Price includes: Close Price, Open Price, High Price, Low Price, Medium Price, Typical Price and Weighted Price. Each of these options can be selected for the price of expert positioning. Also its possible to select different MA types (Simple, Exponential, Smoothed & Linear Weighted) at MA Method section.
- Select Trade Mode: In the Select Trade Mode section, the type of position that the expert can take is specified.
In this section, the drop-down menu includes off mode, long position, short position and short and long position.
If the off option is selected in this section, the expert will not make any trades and will not interfere in open positions.
Our suggestion is that if you do not want to use Expert at a specific time, instead of deleting it, select the “Off” option so that you do not have to make all the settings again the next time you use Expert.
- Select Execution Mode: In the Select Execution Mode section, the type of Candle Confirmation for Expert to take action is specified. There is two options: Candle Close Confirmation & Close Breakout. If the execution Mode is set on Candle Close Confirmation, the position will be Opened after Candle closes in the first turning point according to the client strategy. In Close Breakout Mode, the position will be Opened after two confirmations. First turning point candle must be closed and the second candle also have to continue the same Direction and hit more than 10% length of the previous candle (first turning candle) till the position will be opened.
As seen in the image below, in close break out mode, the price must hit as much as 10% of the signal candle length in the corresponding direction.
- Lot Volume: In this part, the volume of trades in lots is given by the client to the expert, in order to open a position with that volume.
- Stop Loss: In this part, the amount of loss that the position closes if it happens is determined in pips.
- Take Profit: In this part, the amount of profit that the position closes if it happens is determined in pips.
- Trailing Stop: This is a dynamic stop loss that moves with the price. Frustrader suggests that the amount of trailing stop is equal to the amount of stop loss. If set to zero, it will be disabled.
- Add Trading Days: This section specifies the days when the expert is allowed to open a position.
- Start Hour: In this section, the time when the expert is allowed to start positioning is specified.
- End Hour: In this section, the time when the expert must finish positioning is specified.
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RSI, ST Experts
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