My first ea ever. I need some advice.

[Renato 2]

Hello Community. I have build my first ea it works but somehow it doesn´t make money. It would be nice if some of the pros in here could take a look on it and point me in the right direction.
here´s the link https://fxdreema.com/shared/sJL6NJ1qc
As I´m a beginner in fxdreema, any help is appreciated.

[l'andorrà]

@renato-2 Well, you are certainly one of those fortunate users whose EA works at first try! Congrats! On your results, did you backtest your strategy manually before implementing the EA? Are your results different?

[Renato 2]

Thank You. To be true, it´s not my own personal strategy. A friend of mine gave it to me.
It´s supposed to work like this:

Indicators
3 EMA
10 SMA
40 SMA
240 SMA
RSI -10
Target Profit – 4 Pips – to be amend based on Time-frame.
SL – Most Cases when price reverse and closed above 10 SMA for Sell order & below 10 SMA for a Buy Order.

For Buy/Long -
So Basically when 3EMA Cross and Candle Closed above 10SMA Buy Order must trigger.
3 EMA, 10 SMA & 40 SMA must be above 240 SMA.
RSI Must above 60.

For Sell/Short -
So Basically when 3EMA Cross and Candle Closed Below 10SMA Sell Order must trigger.
3 EMA, 10 SMA & 40 SMA must be below 240 SMA.
RSI Must below 40.

Sorry for that long description. By his saying he is supposed to make approx 5-10 pips.

[l'andorrà]

@renato-2 well, it is apparently well implemented in your EA. Did you backtested it anyway?

[ranjayforex]

@renato-2 Best way to use RSI is to Sell from 80 and Buy from 20 with a confirmation. I think there is too much logic as it related to SMA, when the values become true the trade would have already been exhausted. Use the two best SMA to you.

[Renato 2]

@l-andorrà yes I backtested it and the results were not satisfying. But I´m not giving up.

[Renato 2]

@ranjayforex Thank you for your kind advice. Will have a look on it and play with it.
It´s all about learning.

[l'andorrà]

@renato-2 I hope you find the answer soon. Don't hesitate to share it here, please.