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RSI EA with pending ordersposted in Questions & Answers
Hello I want to make an EA based in RSI overbought and oversold. Buy signal will always true when it touch 70 rsi until it touch 30. Likewise Sell signal is always true when it touch 30 rsi until it touch 70. here are the rules:
Buy:
- Open buy trade when rsi touch 70 with 10 pips tp and stop loss 20 pips.
- When the buy trade TP is hit, open buy trade at market price with 10 pips tp and 20 pips sl.
- If market moves down 10 pips below the ask price current position, open buy limit 10 pips from the ask price with 10 pips tp and 20 pips sl
- When rsi 30 is touch, all buy orders will be closed.
- When the buy limit tp is hit, open buy trade at market price with 10 pips tp and 20 pips sl.
Sell:
- Open sell trade when rsi touch 30with 10 pips tp and stop loss 20 pips.
- When the sell trade TP is hit, open sell trade at market price with 10 pips tp and 20 pips sl.
- If market moves up 10 pips below the bid price current position, open sell limit 10 pips from the ask price with 10 pips tp and 20 pips sl
- When rsi 70 is touch, all sell orders will be closed.
- When the sell limit tp is hit, open sell trade at market price with 10 pips tp and 20 pips sl.