Please click on this link to read about the Dangers of using Set Files
The RSI Trendline EA is best traded using the 15 minute timeframe. Remember to restrict the number of open deals (see below) to control risk
Set files provided with the RSI Trendline Trader EA
(Please not there are no set files for the RSI Trendline FINDER EA)
Important information when using the provided set files
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General information on set files and default settings
Set files are default settings should not be used for live trading under no circumstances unless calibrated and re optimized for your account. Further you should take the points mentioned below into account.
Time of day settings
These set files were created using a Tallinex account which had a broker time of GMT +1 when the tests were performed (28 March). You need to adjust the time of day settings in the set files to be in line with your broker time. The best solution would be to re-optimize the time of day setting using your own Broker account.
Test in the Forex Strategy Tester first
Run the settings in the MT4 Strategy tester first before use. The set files used dates of 1 September 2016 to 28 February 2017.
The number of open deals
One of the settings which impact profitability is the Max number of open deals setting. Profitability increase when more open deals are allowed. Many open deals however do impact the margin requirements and finance required for stops. Please bear this in mind when calculating your lot sizing and account size.
Open Trades
In order to achieve high returns the trader has to allow many open traders. THIS IS A BIG DANGER . The more open trades the more money you need in your account for margin and to carry any losses.
This can be seen in the example table on the right showing the returns over a 6 month period for the different open deal levels.
The set files have been set only have a maximum of 20 open trades. If you have enough money in your account and what to increase drawdowns and risk but potentially increase your returns you can increase the maximum number of open deals at your own risk.
The table on the left is a rough guide as the the income generated based on the set files when using the maximum open deal settings of 20, 50, 100 and 150.
Please remember the set files are based on the 15 minute timeframe and 0.1 lot sizing. The set files are all set to 20 open trades to avoid traders from being exposed to excessive risk - you can manually change the setting and re-save the set file.
The set files were generated based on a $10 000 account so a $1 000 per currency traded using a micro lot 0.01 would be a good way to start
Loading the set files
There are 4 15 min set files. One for each of the EURJPY, GBPJPY, GBPUSD and the AUDUSD. They have been created using the 6 months from 1 September 2016 to 28 February 2017
