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MTF RSI GRID Trader
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Author:  CharlesKiwitrader [ Wed Jul 16, 2014 12:08 pm ]
Post subject:  MTF RSI GRID Trader
Hi Coders,
I am hoping someone can help me here as I hope this is something quite simple, that I can't figure out what to change to work how I designed it. I found this EA on this forum as a RSI grid trader and wanted to modify this to a Multi Time Frame RSI Grid Trader, but in modifying I have come unstuck!!! :cry: :cry: :cry:
As the title says I have attempted to create a Multi Time Frame RSI Grid Trader when trades with the trend after the value of the RSI is > 50 (buy) and <50 for sell.

Now the problem is at the moment the EA opens a buy and a sell trade immediately on placing the EA on a chart, or in other words it hedges straight away, and not use the RSI for entry. This makes me think I have done something wrong in my set up of the buy/sell orders etc.

The way I would like this to work is that,
1, when RSI value > 50 the EA would buy only, and if price goes against this it would add buy steps in (already in code), then when RSI < 50 EA would open a sell trade, and continue with hedging from there.

2, There is already in the code a 'profit lock' procedure so when the buy series of trades hits the horizontal line a trailing stop is invisibly placed via dotted line, and the same for collective sell trades.

3. After a buy/sell series has finished the EA would then wait for the MTF RSI value to be either < or > 50 etc for a new series to be placed, as well as the other series still in play (so-to-speak).

Here is hoping someone can help me finish this off so we can test it for profitability etc.

Also, I am attaching a MTF RSI indicator which may provide a useful alternative to what I have inputted, but as a VERY newbie coder I am not keen to add this into the code and correct any mistakes etc if it is an easy job for someone more experienced.
Author:  Lowphat [ Wed Jul 16, 2014 8:17 pm ]
Post subject:  MTF RSI GRID Trader
I'm not sure if the following code will apply your logic correctly but i took a stab at it.

Code: Select all

bool AllowBuy=false,AllowSell=false;

  if (RSI1>50 && RSI2>50 && RSI3>50 && RSI4>50)AllowBuy=true;
  if (AllowBuy&&buys==0)
      ticket = OrderSendReliable(Symbol(),OP_BUY,CalculateStartingVolume(),MarketInfo(Symbol(),MODE_ASK),slippage,0,0,key,magic,0,Blue);
or would the above be if (RSI1<50 && RSI2<50 && RSI3<50 && RSI4<50) and then opposite for sells


Code: Select all

 if (buys>=1)
  {    // CASE 1 >>> We reach Stop Loss (grid size)  
    if (total_buy_profit < CalculateSL(total_buy_lots))
        ticket = OrderSendReliable(Symbol(),OP_BUY,MartingaleVolume(total_buy_profit),MarketInfo(Symbol(),MODE_ASK),slippage,0,0,key,magic,0,Blue);
....

Code: Select all

if (RSI1<50 && RSI2<50 && RSI3<50 && RSI4<50)AllowSell=true;
  if (AllowSell&&sells==0)
     ticket = OrderSendReliable(Symbol(),OP_SELL,CalculateStartingVolume(),MarketInfo(Symbol(),MODE_BID),slippage,0,0,key,magic,0,Red);

Code: Select all

  if (sells>=1)
  {   // CASE 1 >>> We reach Stop Loss (grid size)   
    if (total_sell_profit < CalculateSL(total_sell_lots))
     ticket = OrderSendReliable(Symbol(),OP_SELL,MartingaleVolume(total_sell_profit),MarketInfo(Symbol(),MODE_BID),slippage,0,0,key,magic,0,Red);
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