How about a robot that will let you know when the market is about to change and will help you use this information to increase your winning chances in the Forex trading?
cAlgo platform features such a solution, namely RSI & Boll Bands w Threshold robot for cAlgo, that uses a conglomerate of indices and instruments to monitor the currency market and protect you from major downturns or help you take advantage of important upturns.
How does RSI & Boll Bands FX bot works?
In is based on the relative Strength Index (RSI) that determines the oversold or the overbought market momentum for a specific currency pair. This is coupled with the Bollinger Band that measure market deviation and signals when this becomes more volatile.
This is a trend trading and reversal robot that will use the threshold in order to decide to place an order.
Parameters for RSI cAlgo Robot
- Lot size
RSI and Boll Bands bot Tips
When setting up this robot, you will have to pay special attention to some parameters that need to be tweaked just so, or the robot will simply not work. For example, in the case of Stop Loss, make sure this is never at a negative level. If such thing happens, you will receive “invalid message”, and the robot will do nothing.
Do not feel comfortable trading with this robot? Pick another one from cAlgo trading robots table:
|ArtificialIntelligence||Black Corvette||Fibonacci Robot||Golden Dragon||Mechanic Robot|
|Multiple Entries||News Trading||PayBack Trading||RSI and Boll Bands||Trend cAlgo Robot|
cAlgo RSI & Boll Bands robot does use quite a big number of indicators and may seem rather difficult to use. However, if used correctly, these indicators will complement each other and help you get the trading results that you seek for.