Hi all,

I have been watching alot of great development over the past couple months on these forums with EA's. I am wondering if i could get some help on developing a really simple EA actually...

Guide Lines as follows:

Based off RSI only

TF: Any *Prefer M30, H1
TP: 10-20
SL: 40
RSI Period 6, 14 on H1 (I use RSI period 6 mainly as reference)
When RSI hits a value of 32, the EA will place a Buy.
When RSI hits a value of 50, the EA will close the order
*Also the other way around.*
When RSI hits a value of 75, the EA will place a Sell.
When RSI hits a value of 60, the EA will close the order
Possiable to change Values and/or disactiavte the buy or sell portion.


Currently this is one thing i do on a daily bases on really any pair which pays off overall. I just miss out on some chances on my off hours which i think a simple EA could handle...if not all the time which would be a benny. Just can't seem to find an EA to perform this simple function without having alot of other items added to it.

Hope to hear from you all soon....
Thanks all!

Spider

I got some question :
1. Is it mean from below 32 up to 32 then going buy, or don't care from any direction ? Same with 75 level. Is it mean from above 75 down to 75 then going sell ?
2. Are you wait for the signal bar to close and enter the trade on the next bar ? Or anytime the RSI hit 32 / 75 you just enter the trade ? For the last one, I think will be much false signal.
Thank you in advance

__________________
David Michael H
"Trader helps traders with sincerity, honesty and integrity"

I am an old stock guy actually just coming into the forex market so bear with me. On the RSI, it is true there are alot of false signals which an EA would generate.
1. When the value of the RSI chart hits 32 or below the EA should place a Buy only. As the RSI moves back up the chart to the values of 40 - 50 it would close out the Buy order. I usually don't play on the Sells which are at a Value of 75 since they are to unpredictable.
2. I am waiting for the RSI value to hit the predefined value for it to close any trade. Trading by hand it has worked out very nicely for about 10 - 40 pips, but of course the value of the RSI chart doesn't always hit the value of 30 or below everyday depending on the TF.

Sorry if i didn't answer your question right...
I will try to answer any more you have.
Thanks!

Spider