RSI Range Trader Forex Expert Advisor

RSI Range Trader – Forex Expert Advisor

Trade Advisor RSI Range Trader is a free software, but its use is limited to work only in the MetaTrader4 trading terminal on trading accounts of FXCM. As the name suggests, the Expert Advisor is an indicator and uses the Relative Strength Index in its work. The Expert Advisor places trade orders to sell or buy in accordance with the ratio of the offer price of the trading instrument and the level of the indicator. RSI Range Trader can execute only one trade at a time. There is no stop-loss function in the Expert Advisor, so when using it you should be careful to avoid a complete depletion of the trading account due to a series of losing trades. The RSI Range Trader Expert Advisor can also be used as an oscillator, in which case it constantly keeps trade orders open.

WorkerFXCM
Executive classshort-term and long-term
Type of Expert Advisor trendy
Size of the lot no less than 1000 pips for 0.1 of the standard lot
Size of deposit, $500
Hand500
Timeframes from M5 and above
Strategiesyour strategy
IndicatorsRSI
Recommendationed brokersFXCM
Pair tool/forexEURUSD, GBPUSD
Yield, % p.a.53.37
Max. drawdown, % p.a.29.32
Rating6.6
Autonomous account type
Indicator
Multiple use
Free use
Mini deposits
Maximum risk limit
ECN
NDD
Many series in one direction
Automatic start lot
Fixed stop-loss
Fixed Take Profit
Automatic shoulder
Created, year2015
What is a Forex Expert Advisor?

In connection with the popularization of automated trading, many investors ask themselves what is a Forex Expert Advisor? First of all, it is a special program required to manage the trading process automatically, i.e. without the trader’s participation. A trader invests in the robot in advance, a kind of algorithm, the conditions on the basis of which the subsequent market activity is carried out.

How do forex advisors work?

When you trade manually, you need to analyze the market yourself, take into account the forex forecast for the current day, forex news and choose the entry points to the market. However, it is also possible to trade automatically, using special programs that do most of the work for a trader – forex advisors.

Why shouldn’t beginners trade with Forex Expert Advisors?

Trading involves obtaining a great deal of knowledge – understanding the functioning of the market and various nuances, including the ability to apply technical and fundamental analysis. Forex Expert Advisors, i.e. the programs used for automatic trading, cannot help it.

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