Introduction
So, you've come across the AW RSI based EA and you're wondering if it's worth your time and money. Let's get real: every trading robot out there claims to be the Holy Grail of trading, yet most end up in the digital junkyard. AW RSI based EA has managed to get some good reviews, but let's dig deeper into what it offers and how to set it up for maximizing its effectiveness.
Installation and Settings
Before you start dreaming about untold riches, let's go through the steps to install and configure this trading robot.
- Download the EA: Head over to the official website or your MQL5 account to download the AW RSI based EA.
- Install on MetaTrader 5: Open your MT5 platform, go to File -> Open Data Folder, and copy the downloaded EA file into the Experts folder.
- Attach to Chart: Restart MT5, then open a chart of your preferred trading pair. Navigate to Navigator -> Expert Advisors and drag the AW RSI based EA onto your chart.
- Configure Settings: Adjust the input parameters according to your trading style. These include:
- RSI Period
- Overbought/oversold levels
- Lot size
- Stop loss and take profit levels
- Enable AutoTrading: Ensure the AutoTrading button is pressed so the EA can start working its so-called magic.
Usage Experience
Alright, now let's get to the good part. The setup is straightforward, but the experience is what counts. Based on the comments:
- Tuanyer finds it really good but suggests changing parameter settings for optimization.
- forexmania claims it works on multiple accounts with a good DD and performance balance.
- kaostv is cautiously optimistic after short-term testing.
- BlueDot trusts Alex (the developer) and calls it simple but profitable.
- Jean Philippe Groleau optimized it for 20 years on multiple pairs with a $1000 deposit.
So, it's clear that some people are getting results, but mileage can vary.
Tips for Improvement
To get the most out of the AW RSI based EA, consider the following tips:
- Optimize Settings Regularly: Markets change, and so should your settings. Regularly optimize the EA for current market conditions.
- Use on Multiple Pairs: Diversify to spread risk.
- Backtest Extensively: Before deploying on a live account, run extensive backtests.
- Monitor Performance: Don’t just set and forget. Regularly monitor the EA’s performance.
The Source Code of AW RSI based EA
Ah, the elusive source code. While we don't have the actual source code for the AW RSI based EA sold on MQL5, we can certainly create a code based on its description. This isn't the original but rather a reasonable facsimile based on available information. If you have any questions or need code examples, feel free to ask.
Note: We, EASY Trading Team, do not sell the AW RSI based EA. We've just created a similar code based on its description for educational purposes.
Code:
You don't have permission to view the code content. Log in or register now.Download AW RSI based EA for MetaTrader 5
For those itching to get started, you can find the AW RSI based EA for download at AW RSI based EA Official Page. If you have any questions about the code, don't hesitate to reach out.
So there you have it. Your step-by-step guide to installing, configuring, and optimizing the AW RSI based EA. Don't get too carried away by the positive reviews—always test thoroughly and manage your risk. Until then, happy trading!