About the RSI EA Expert Advisor
The RSI EA Metatrader 4 Forex Scalping robot is an algorithmic trading software that utilizes the Relative Strength Index or RSI indicator in gauging market signals.
The RSI EA has a set of logic that will buy when the RSI is in an oversold condition and sell when the RSI is in the overbought region.
The EA offers users the option of setting the levels they wish to use to open and close trades.
This bot is a scalping system because it works best on the 1-minute time frame.
However, it can be optimized for use on other timeframes as well.
In conclusion, the RSI expert advisor can be adopted on all currency pairs if properly optimized.
Free Download
Download the “rsi_ea.mq4” MT4 robot
Key Features
RSI-Based Scalping Logic
The EA trades based on RSI entering overbought or oversold zones, aiming to capture rapid market reversals for quick profits.
Customizable Entry and Exit Levels
You can set custom thresholds for opening and closing trades, tailoring the EA’s sensitivity to your own risk tolerance and market conditions.
Versatile Timeframe Support
Although optimized for M1 scalping, the robot supports multiple timeframes, including M5, M15, M30, H1, H4, D1, W1, and MN, offering flexibility across trading styles.
Pair-Agnostic Applicability
The EA can be used on any currency pair, giving users the ability to diversify or concentrate trading depending on their preferences.
Full Input Customization
Users can tweak parameters such as RSI period, buy/sell thresholds, Stop Loss, Take Profit, Trailing Stop, AutoLot and other key operational values to match their strategy and risk profile.
Strategy Tester Report
Find below the RSI EA forex robot strategy tester report for the AUD/USD forex pair on the 1-minute chart.
Overall Performance
The EA made a total profit of $127.73 from a total of 51 trades.
The largest winning trade generated $18.68 in profits, while the largest losing trade generated a loss of $14.28.
Statistics:
Bars in test: 32521 ticks modelled
Initial deposit: $100.00
Total net profit: $127.73
Total trades: 51
Largest profit trade: $18.68
Largest loss trade: -$14.28
Consecutive wins: 3
Consecutive losses: 1
How the EA Works
- Monitors RSI levels—when dropping into oversold territory, it signals a potential buy.
- Sells when RSI enters overbought territory, aiming for short-term reversals.
- Executes trades automatically using defined Stop Loss, Take Profit, and optional Trailing Stop inputs.
- Adjusts trade sizing using AutoLot, Risk settings, or fixed lot size options.
- Includes constraint parameters like slippage control, magic number tagging, and customizable comments.
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Download the “rsi_ea.ex4” Metatrader 4 robot
Parameters & Settings
- RSI Period — sets the RSI calculation timeframe.
- Buy Level / Sell Level — inputs for overbought and oversold triggers.
- Stop Loss / Take Profit — customizable or automatic via volatility.
- Trailing Stop — optional adjustable follow-up stop.
- AutoLot / Risk / Manual Lots — choose how trade size is calculated.
- Magic Number — unique identifier for EA trades.
- Slippage — maximum allowed slippage to protect price execution.
Recommended Trading Setup
- Prefer the M1 timeframe for the best scalping performance.
- Use liquid pairs like EUR/USD, GBP/USD, USD/JPY for tight spreads.
- Start with a demo account to fine-tune entry levels and risk parameters.
- Risk per trade can begin around 0.5% to 1% of the account balance.
- Ensure your broker offers quick execution and minimal slippage on short-term trades.
FAQ
Can I use this EA on multiple currency pairs?
Yes, you can run it on multiple charts and different pairs simultaneously. Just monitor total exposure.
Does it work on higher timeframes?
Yes—it supports timeframes beyond M1 (e.g., M5, M15, H1). However, performance will differ; thorough testing is recommended.
Can I customize stop and take profit levels?
Absolutely. You can set fixed values or rely on volatility-based defaults via inputs.
Is this suitable for new traders?
Yes, it’s beginner-friendly—but learning MT4 basics and prudent risk management is still crucial.
Will it work with any broker?
Generally, yes, but results may vary depending on spread, slippage, and execution speed. Always test in a demo environment first.
Summary
The RSI EA for MT4 is a straightforward, free scalping robot leveraging the power of the Relative Strength Index.
With customizable levels, multi-timeframe support, and efficient performance on short timeframes, it suits both new and experienced traders.
The simple logic—buy in oversold, sell in overbought—combined with robust risk settings, helps automate trading without complexity.
Download the EA, experiment on a demo, and tailor the settings until you find the sweet spot for your trading style.
