About the RMI Expert Advisor
The RMI EA Forex robot for Metatrader 4 is a universal trading robot that is based on the RMI technical indicator.
This expert advisor offers a lot of different input options to choose from.
For instance, you can fully modify the RMI and momentum period, enable grid mode, enable martingale, hedge mode, use trailing stops,…
Overall, the RMI EA showed promising results during our testing period (see track record below).
The RMI expert advisor can be used with any Forex broker and should work for any time frame.
Free Download
Download the “RMI EA.ex4” expert advisor
Key Features
Customizable Trading Settings
RMI EA provides extensive configuration options. Traders can adjust RMI and momentum periods, as well as buy and sell levels to match their preferred trading style.
Stop loss and take profit can be modified to control risk effectively.
Flexible Trading Modes
The EA supports grid, martingale, and hedging modes. This flexibility allows users to choose the strategy that best aligns with their risk tolerance and account balance.
You can enable or disable specific modes depending on market conditions.
Risk Management Tools
RMI EA is equipped with advanced risk management features. Trailing stops protect profits, while spread filters prevent trades from opening under unfavorable market conditions.
These tools minimize potential losses and ensure consistent performance.
Broker Compatibility
The EA works with any MetaTrader 4 broker. It performs best with brokers that offer low spreads and fast execution speeds, ensuring trades are executed efficiently without delays.
Strategy Tester Report
Find below the RMI EA track record for the GBP/CAD M30 chart (click on the picture for a full-size view).
Key Points
- Total profit: $384.24
- Profit factor: +2.73
- Profit in pips: 5059
- Drawdown: 7.2%
During backtesting, RMI EA achieved impressive results on the GBP/CAD M30 chart.
The EA generated a total profit of $384.24 with a profit factor of 2.73. The total number of pips gained reached 5059, while the maximum drawdown remained at 7.2%.
These results demonstrate the EA’s ability to provide consistent profits while effectively managing risk over a sustained period.
Trading Chart
The picture below shows the RMI EA expert advisor attached to the GBP/CHF 30-minute chart.
How the EA Works
- Analyzes market trends using the RMI and momentum indicators.
- Automatically opens and closes trades based on predefined strategies.
- Manages risk using stop loss, take profit, and trailing stop strategies.
- Avoids trading during high-impact news events and volatile periods.
- Operates continuously on the MT4 platform with minimal user intervention.
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Parameters & Settings
- RMI Period: Adjust the period for the Relative Momentum Index calculation.
- Momentum Period: Set the period for the momentum indicator.
- Buy Level: Define the level at which to open buy trades.
- Sell Level: Define the level at which to open sell trades.
- Stop Loss: Set the stop loss level for each trade.
- Take Profit: Set the take profit level for each trade.
- Grid Pips: Define the distance between grid levels.
- Hedge Mode: Enable or disable the hedging strategy.
- Martingale: Enable or disable the martingale strategy.
- Trailing Stop: Enable or disable the trailing stop feature.
- Spread Filter: Set the maximum spread allowed for trading.
- Magic Number: Unique identifier for each trade.
- Global Magic: Global magic number for all trades.
- Profit in Pips: Define the profit level in pips for closing trades.
Recommended Trading Setup
- Instrument: Any currency pair.
- Timeframe: Any timeframe.
- Account Balance: Minimum $50.
- Broker: Low spreads and fast execution.
- Demo Account: Test before trading live to ensure optimal results.
FAQ
Can I use RMI EA with any Forex broker?
Yes, RMI EA is compatible with any MetaTrader 4 broker that allows automated trading. For optimal performance, choose a broker with low spreads and fast execution speeds.
Is a VPS necessary for running RMI EA?
While not required, using a Virtual Private Server (VPS) ensures that the EA operates 24/7 without interruptions, providing stable internet connectivity and minimizing the risk of downtime.
What is the minimum account balance required to use RMI EA?
The minimum recommended account balance is $50. However, for enhanced performance and to accommodate potential drawdowns, an account balance of $100 or more is advisable.
Does RMI EA require additional software or DLL files?
No, RMI EA operates without the need for any external DLL files. This ensures compatibility with a wide range of brokers and simplifies the installation process.
How does RMI EA handle market volatility and news events?
RMI EA includes built-in news and time filters to avoid trading during high-impact news events and volatile market conditions. This helps in reducing the risk of significant losses during unpredictable market movements.
Summary
RMI EA is a versatile and customizable automated trading robot for MetaTrader 4.
With its range of adjustable settings and proven performance, it offers traders an efficient way to capture market opportunities.
Testing on a demo account before live trading is highly recommended to understand the EA’s behavior and optimize performance.
