The Expert4x RSI ForexLiberator EA
The RSI Liberator takes the strength of the of the Profit Retriever (The profit retriever process) and adds to it a selective entry that has a well above average chance of success at the end of a trend when the trend is expected to be exhausted. So, the chance of facing the wrong way in a runaway trend is postponed to a much safer time.
How it works
Entries
The robot reviews the selected currencies for RSI Hooks. It identifies them using the close of candle basis and enter a trade against the trend of the previous trend prior to the hook. The target for the initial trade can be determined by the trader and there is a hidden target option.
Exits
If successful it will close the trade at a profit when the target or hidden target is reached.
If the trade moves against the intended direction it will open additional trades in the same direction as the original trade every Gap size travelled. Trade lots sizes will depend on the the multiplier factor used. A group of open trades is called a run or basket. When the total profit of the Run or basket of open trades reach the Dollar or pip amount specified in the settings the Robot will close all the open trades in the run.
Continuous, Set and Forget Trading.
This is a continuously trading Expert Advisor (Trading Robot). It has been designed for no manual intervention but setting changes that will impact future trades can be made while there are open trades.
The Robot has an Drawdown stop whereby it will close all open trade when the maximum drawdown specified by the trader is reached. This will mainly be used by Proprietary traders.
Further details