Rich Raccoon EA
Relative Streight Index (MT4)
Demonstration video (watch in HD)
Download this EA now on QUIVO forex
MT5 Version: Take a look at Pipbolt.io
If you do not already have Metatrader 4 terminal, please download it here.
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Principle of operation
The Rich Raccoon EA uses Relative Strength Index (RSI) to enter a trade. If the RSI line breaks from above the AboveRsiLevel it enters a Sell Order. If the RSI line breaks the BelowRsiLevel from below a Buy Order is generated. You have also the possibility to use a MovingAverage filter. If the UseFilterMa ist set to „true“, Buy Order are only generated if the current price is above the MovingAverage. Vice versa.
Parameters for the RSI
RSI_Period = Number of periods for calculation (default is 14)
RSI_AppliedTo = In this parameter you can set the Applied price. It can be any value between 0 and 6
(default is 0/PRICE_CLOSE)
| PRICE_CLOSE | 0 | Close price |
| PRICE_OPEN | 1 | Open price |
| PRICE_HIGH | 2 | High price |
| PRICE_LOW | 3 | Low price |
| PRICE_MEDIAN | 4 | Median price, (high+low)/2 |
| PRICE_TYPICAL | 5 | Typical price, (high+low+close)/3 |
| PRICE_WEIGHTED | 6 | Weighted close price, (high+low+close+close)/4 |
AboveRsiLevel = Above signal line (default is 70)
BelowRsiLevel = Below signal line (default is 30)
Parameters for the Moving Average Filter
UseFilterMa = Set to „true “ of you want to use the MovingAverage filter. By default it is set to
„false“.
FilterMaPeriod = Averaging period for calculation (default is 200)
FilterMaShift = MA shift. Indicators line offset relate to the chart by timeframe (default is 0)
FilterMaMethod = In this parameter you can set the MovingAverage Method It can be any value between 0 and
3 (default is 0 / Simple moving average)
| MODE_SMA | 0 | Simple moving average |
| MODE_EMA | 1 | Exponential moving average |
| MODE_SMMA | 2 | Smoothed moving average |
| MODE_LWMA | 3 | Linear weighted moving average |
FilterAppliedTo = In this parameter you can set the Applied price for the MA filter. It can be any value between 0 and 6 (the same possibilities as for the RSI_AppliedTo | default is 0 / Close price)