The C68-GDRSI EA is a robot from the C68 series. GDRSI is derived from the keyword Grid, Double RSI (Relative Strength Index). Therefore, this EA uses two RSI indicators, not just one RSI, or double RSI. The first RSI is used on a filtered time frame (e.g., H4 or D1). Its purpose is to determine whether the market is bullish or bearish. The second RSI is used on a smaller time frame (e.g., M1, M5, or M15) and is used as an entry indicator . Additionally, this EA uses other supporting indicators, namely Bollinger Bands and stochastic. The combination of RSI, Bollinger Bands, and stochastic provides confirmation signals when to enter the market or open a position.
The main features of the EA C68-GDRSI Robot include:
Trading Strategy: Each EA (Expert Advisor) has a different trading strategy, such as scalping, swing trading, or trend following. The C68-GDRSI EA combines scalping and trend following. What is scalping? This EA is suitable and recommended for use on smaller time frames, such as M15. However, it can also be applied to other time frames, with different parameter configurations, of course.
Technical Indicators: Using various technical indicators to analyze the market, such as Moving Average, RSI, Bollinger Bands, etc. As seen in the illustration below, this EA uses 3 indicators as tools to detect market trends and determine when to open and close positions.
Risk Management: Equipped with stop-loss and take-profit features to limit losses and secure profits. Furthermore, the EA utilizes pending orders, such as Buy Limit and Buy Stop. This strategy is considered superior and safer than the Martingale strategy. This is also the result of analytical considerations and over four years of experience in trading and developing trading EAs (bots). Furthermore, the latest version of the EA includes additional features such as ‘ Operating Hours ‘ and ‘ News Filter ‘.
Backtesting: Allows you to test the performance of an EA robot on historical data before using it on a live or real account . There’s also the term ‘Forwardtesting,’ which involves testing the EA’s performance on a demo account over a period of time.
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