MT5 RSI Grid Strategy Programming Tutorial - Take Profit and Position Closing - Part 2

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Learn about the benefits of automated trading. After programming trading strategies for a while I started teaching how to program expert advisors for the MT4 (MetaTrader 4) and MT5 (MetaTrader 5). Until now I only did videos in German but now I will start this channel with English videos to reach a larger audience of traders and help them improve their trading. There will be no fake trading on this channel and no lies. I show trading as it is - the good and the bad sides. Stay tuned and subscribe because you don't want to miss ;)

Trading in derivative products such as futures, options, CFDs, Forex and certificates involves a considerable risk. These products are not suitable for every investor. Investors could potentially lose all or more of the original investment. If anything, only money that equals personal risk capital and can be lost without jeopardizing financial security or lifestyle should be used. Partially or fully automated trading programs can only be used to support the trader. Past performance is not an indication of future results.

[mohammadebrahimhamidia]

Thanks for your efforts.
I think this strategy has good potential, by changing inputs and managing risks.
Maybe by lowering both timeframe and rsi period to have more entries and adding stoploss and maybe trailing stoploss. i dont know i should test and check.

[FighterFred]

The drawdown issue is critical. There are 2 ways to correct this: stoploss or multiple trades when the trend goes against you. So if the first trade is a buy and the price goes down you open a new buy etc in a grid.

[johnwilliamjohnson]

Looks like a nice strategy!! I have just coded the strategy and going to test on demo account. Thanks for your work!

[zenkentrading]

As an EA creator and EA trader what should I focus on for creation? Indicator? Price reversions? Price action? Scalp? Trade once a day kinda EA? What gave you found to be the best EA so far?

[chiomaobunadike]

Excellent video as always 🙌
Please can you make a tutorial on GUIs?

[salvatorecaligiuri]

Hi, would be great if you can make a video on how to tranform the expert in a multicurrencies ea. And please can you share the code as you have done with others video? Thank you!

[milkovivaldi]

2:12 Does positionGetTicket select a position?

[simoninvest]

Hi René.
Thanks for all the great videos.
I myself am new to MQL5 coding and sit in time and code on a momentum strategy.
But I'm struggling a bit with one thing I hope you can help with. Maybe you can show it in a video.

I would like to have the option in my inputs to write how many dollars I want to buy for per trade. And then it has to calculate itself how many lots it has to buy for.
But just can't get it to work.
Hope you have a suggestion for it.

[danielmacharia]

You are great and good heart. Where can i get you? Good Helper

[The.h]

I'm having trouble getting the trading journal. Any advice?

[makedaily]

"Little minds are tamed and subdued by misfortune; but great minds rise above it." -Washington Irving

[mastaleo]

Hey good day. I was watching your tutorial on how to createa moving avarages ea. I did follow the instructions and created a running ea. Thank you.

I need your help now in making the ea close the trades using the crossing of the eas again. May you please help me in setting this up. I need the ea to close the buy when the MAs cross for a sell and close the sell when the MAs cross for a buy.

Eagerly waiting for your positive response

Thank you

[razvanmiritescu]

how to calculate tp and sl points for buy and sell together?

[greaseweb]

Correct me if I'm wrong Rene but as far as I know, you can't have both buy & sell positons at the same time for the same currency pair in MT5.
I know this is a coding tutorial video (and I truly respect your efforts) but don't you think an example like this will create big confusion for inexperienced mt coders?

[danibaig]

❤ thanks for sharing great video keep it up.

[shadowdancer]

be careful if anyone is to use this code, the close position part not take care of symbol and magic number, if you are going to use the code 100% in the video please make sure you dont mix with other ea or manual trade or else your other position get closed by this example ea.

[khamilabubakar]

Help provide with the source code. Thanks

[veeralbaichand]

If anyone can add a trading stoploss on this concept. You will do amazing on gold and Nasdaq markets with 10 USD

[blackview]

This is a really bad strategy, i mean to put that much risk just to earn 5% after a year!

[PenteanoO]

Idk how people can use this strategy, way too dangerous. Better mix these signals with some long term pivot point (daily or weekly) and use proper risk management and SL