Qualified R S I is a Server Side VTL Expert Adviser. It is based on the Relative Strength Indicator, RSI. The tradings system uses the RSI to identify over bought and over sold market conditions and open counter trend trades. RSI remaining at higher levels indicate overbought market conditions. RSI remaining below 45 level indicates oversold market conditions. The EA examines this situation and open counter trend trades. The trading system rules are:
Buy When RSI is below 45 level for the last 12 bars.
Sell when RSI is above 55 level for the last 12 bars.
Close positions when fixed stoploss or trailing stoploss is hit.
Before starting the EA on server, set the parameter values by opening the VTL Script in VTL Editor. Parameters are located at the top of the script file. The symbol to trade, chart time frame, lot size and stoploss can be defined in the parameters.
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