The Forex trading market is continuously evolving. Traders are consistently exploring new strategies to maximize their profits. One such innovative approach in the Forex market is the use of an automated trading system, more commonly known as a Forex robot. In this review, we present an in-depth analysis of the Divergence RSI Trader EA, an automated Forex trading robot.
Overview of Divergence RSI Trader EA
Divergence RSI Trader EA is a Forex robot that operates based on divergences on the chart and the Relative Strength Index (RSI) indicator. It works by identifying lows and highs on the chart and RSI indicator, analyzing them, and then opening trading positions. The EA has been tested on the EURUSD H1 in the strategy tester and has been optimized for this currency by default. However, it has also demonstrated good results with other settings on GBPUSD M5 over a decade. Notably, as this is a free version, no further tests will be conducted, with only updates to be provided.
Key Features of Divergence RSI Trader EA
This Forex robot offers numerous features that assist in risk and money management. It includes stop loss, take profit, trailing stop and trailing step options (by candles, points, or below/above the high or low), breakeven (by points and stop distance), and a strategy for closing the order. Furthermore, it also provides customizable settings for divergence, including the number of candles used for divergence analysis and much more.
Divergence RSI Trader EA Performance
The performance of the Divergence RSI Trader EA was tested with the broker ICMarketsSC MT5 with a leverage of 500. The EA performed favorably, indicating its potential to generate profitable trades. However, it is recommended to have an account balance of about 1000 USD or higher for optimal performance. It’s essential to note that different results can be achieved with various brokers, and the developer does not take responsibility for these variations.
Customizable Settings
The Divergence RSI Trader EA offers a plethora of customizable settings that traders can adjust to suit their trading preferences and strategies. These settings include the trend filter, risk and money management, position close filter, breakeven filter, and more. Traders can also control the trading start and end periods, trading days, and even the appearance of the panel.
FAQ
What is Divergence RSI Trader EA? Divergence RSI Trader EA is a Forex robot that operates based on divergences in the chart and the RSI indicator.
What features does Divergence RSI Trader EA offer? This Forex robot offers features such as stop loss, take profit, trailing stop, breakeven, and customizable settings for divergence analysis.
What is the recommended account balance for using Divergence RSI Trader EA? It is recommended to have an account balance of about 1000 USD or higher for optimal performance.
For independent testing of Divergence RSI Trader EA, users can visit forexroboteasy.com. There, they can also subscribe to updates on the testing results of this product. We encourage users to share their experiences of using this product. Remember, this is an independent product review and is not associated with the product creators or distributors.
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