Introduction
In the vast ocean of Forex trading, the IT Moving RSI EA is yet another trading robot that has stepped into the market. Appreciated by some and overlooked by others, this EA seems to be somewhat in the middle of the spectrum based on the user ratings and comments. For instance, our friend jefschmeikel here left a reasonably neutral comment saying, ok, but don't expect a lot, with a rating of '3'. Let's delve into the features and performance of this EA and see if it deserves a round of applause or just a golf clap.Description of Features
IT Moving RSI EA, as the name indicates, primarily functions on the RSI (Relative Strength Index) analysis and Moving Average crossover strategies. The EA buys and sells based on these indicators, striving to capture profits. The trades are automatically managed and there are options for customization, catering to the diverse strategies of different traders.Analysis of Results
Over the past year, the performance of the IT Moving RSI EA has been quite a roller coaster ride. There were several profitable trades, but also an equal amount of losing ones. Overall, the EA seems to have a decent performance ratio, yet it's far from perfect. There were a lot of mixed signals and the return on investment (ROI) was not as impressive as some might expect. More detailed statistics are available on the Forex Robot Easy website.Pros and Cons
- On the bright side, the IT Moving RSI EA is user-friendly, has customizable parameters, and operates on established strategies.
- On the downside, the results are unpredictable and its efficiency oscillates. It's also worth mentioning the lack of transparency regarding the original source code.
The Source Code of IT Moving RSI EA
Now, here is where things get a bit murky. We don't know the original source code of the IT Moving RSI EA sold on MQL5. However, based on the description provided on MQL5 where the algorithm is sold, we can create a pseudo-code. If you have any questions about this pseudo-code, feel free to ask us on the forum. Please take notice that this is a code example from easytradingforum.com, based on the description of the robot [] on MQL5. EASY Trading Team neither sells the IT Moving RSI EA nor possesses the original code. Our aim here is purely educational.
Code:
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