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Expert Advisors

RVI Range Trader

Developer: FXCM

Description

The RVI Range Trader EA buys and sells depending on the relationship of RVI’s main and signal line. The RVI (Relative Vigor Index) indicator uses an instrument’s opening and closing price, compared to its price range, to calculate the vigor of the market. Its goal is to identify an established trend.

Buying Logic

When the main line crosses above the signal line a buy trade is opened.  Subsequently, when the main line reverses and crosses below the signal line, the existing buy trade is closed and a new sell trade is opened.

Note: Used as an oscillator, this EA will always have a trade open (once the initial buy or sell trade opens). All trades open and close at the close of the current candle. Stops and limits are not used.

Selling Logic

When the main line crosses below the signal line a sell trade is opened.  Subsequently, when the main line reverses and crosses above the signal line, the existing sell trade is closed and a new buy trade is opened.

Note: Used as an oscillator, this EA will always have a trade open (once the initial buy or sell trade opens). All trades open and close at the close of the current candle. Stops and limits are not used.

Inputs

The following inputs are available in the EA’s properties window and can be defined by the app user:

  1. Money Management Inputs
    • MagicNumber: A unique identifier that allows the EA to account for and manage its trades
    • LotSize: The number of lots traded
    • MaxDeviation: The maximum slippage allowed (in pips)
  2. Indicator Inputs
    • RVIPeriod: The number of periods used to calculate the Exponential Moving Average of raw RVI calculation.
Risk Disclaimer

The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results.

Requirements

This Expert Advisor (EA) is only compatible with FXCM MetaTrader 4 software. It does not operate on MetaTrader 4 software provided by any other brokerage. Additionally, an FXCM account is required (including free FXCM demo accounts).

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