//+------------------------------------------------------------------+ //| RSIDivergenceRebound.mq5 | //| Copyright 2024, MetaQuotes Ltd. | //| https://www.mql5.com | //+------------------------------------------------------------------+ #property copyright "Copyright 2024, MetaQuotes Ltd." #property link "https://www.mql5.com" #property version "1.00" #property strict #include // Include CTrade class // Input Parameters input int RSI_Period = 14; // RSI Period input int RSI_Overbought = 70; // RSI Overbought Level input int RSI_Oversold = 30; // RSI Oversold Level input double BaseLotSize = 0.01; // Base Lot Size input ENUM_TIMEFRAMES BarTimeFrame = PERIOD_H1; // Timeframe for bar updates input double ExitBuyRSIThreshold = 60; // RSI level to exit buy positions input double ExitSellRSIThreshold = 40; // RSI level to exit sell positions // Global Variables int rsiHandle; // RSI indicator handle CTrade trade; // Trade object datetime lastBarTime = 0; // Last bar time double RSILastThree = 0; // Third last RSI value double RSILastTwo = 0; // Second last RSI value double RSILast = 0; // Last RSI value bool hasFirstExtrema = false; // Flag for first extrema bool hasSecondExtrema = false; // Flag for second extrema bool hasThirdExtrema = false; // Flag for third extrema bool isOverboughtExtrema = false; // Flag for extrema type double priceFirstExtrema = 0; // Price at first extrema double rsiFirstExtrema = 0; // RSI at first extrema double priceSecondExtrema = 0; // Price at second extrema double rsiSecondExtrema = 0; // RSI at second extrema double priceThirdExtrema = 0; // Price at third extrema double rsiThirdExtrema = 0; // RSI at third extrema string extremaPrefix = "Ext_"; // Prefix for extrema objects datetime firstExtremaTime = 0; // Time of first extrema datetime secondExtremaTime = 0; // Time of second extrema datetime thirdExtremaTime = 0; // Time of third extrema //+------------------------------------------------------------------+ //| Draw extrema point | //+------------------------------------------------------------------+ void DrawExtremaPoint(string name, datetime time, double price, color clr, int shape, string label) { // Create the point ObjectCreate(0, name, OBJ_ARROW, 0, time, price); ObjectSetInteger(0, name, OBJPROP_ARROWCODE, shape); ObjectSetInteger(0, name, OBJPROP_COLOR, clr); ObjectSetInteger(0, name, OBJPROP_WIDTH, 2); ObjectSetInteger(0, name, OBJPROP_SELECTABLE, false); ObjectSetInteger(0, name, OBJPROP_HIDDEN, false); ObjectSetInteger(0, name, OBJPROP_BACK, true); // Add label string labelName = name + "_Label"; ObjectCreate(0, labelName, OBJ_TEXT, 0, time, price); ObjectSetString(0, labelName, OBJPROP_TEXT, label); ObjectSetInteger(0, labelName, OBJPROP_COLOR, clr); ObjectSetInteger(0, labelName, OBJPROP_FONTSIZE, 8); ObjectSetInteger(0, labelName, OBJPROP_SELECTABLE, false); ObjectSetInteger(0, labelName, OBJPROP_HIDDEN, false); ObjectSetInteger(0, labelName, OBJPROP_BACK, true); } //+------------------------------------------------------------------+ //| Clean up extrema objects | //+------------------------------------------------------------------+ void CleanupExtremaObjects() { for(int i = ObjectsTotal(0, 0, -1) - 1; i >= 0; i--) { string name = ObjectName(0, i, 0, -1); if(StringFind(name, extremaPrefix) == 0) { ObjectDelete(0, name); } } } //+------------------------------------------------------------------+ //| Expert initialization function | //+------------------------------------------------------------------+ int OnInit() { // Initialize RSI indicator rsiHandle = iRSI(_Symbol, BarTimeFrame, RSI_Period, PRICE_CLOSE); if(rsiHandle == INVALID_HANDLE) { Print("Error creating RSI indicator"); return(INIT_FAILED); } // Initialize trade object trade.SetExpertMagicNumber(123456); Print("RSI Divergence Rebound Strategy Initialized"); Print("RSI Period: ", RSI_Period); Print("Overbought Level: ", RSI_Overbought); Print("Oversold Level: ", RSI_Oversold); // Clean up any existing extrema objects CleanupExtremaObjects(); return(INIT_SUCCEEDED); } //+------------------------------------------------------------------+ //| Expert deinitialization function | //+------------------------------------------------------------------+ void OnDeinit(const int reason) { // Clean up extrema objects CleanupExtremaObjects(); IndicatorRelease(rsiHandle); } //+------------------------------------------------------------------+ //| Check for local extrema in RSI | //+------------------------------------------------------------------+ bool IsLocalExtrema(double rsi1, double rsi2, double rsi3, bool& isMaxima) { if(rsi2 > rsi1 && rsi2 > rsi3) { isMaxima = true; return true; } else if(rsi2 < rsi1 && rsi2 < rsi3) { isMaxima = false; return true; } return false; } //+------------------------------------------------------------------+ //| Check for divergence patterns | //+------------------------------------------------------------------+ bool CheckDivergence(double price1, double rsi1, double price2, double rsi2, bool isOverbought) { if(isOverbought) { // Bearish divergence (price makes higher high, RSI makes lower high) if(price2 > price1 && rsi2 < rsi1) return true; // Hidden bearish divergence (price makes lower high, RSI makes higher high) if(price2 < price1 && rsi2 > rsi1) return true; } else { // Bullish divergence (price makes lower low, RSI makes higher low) if(price2 < price1 && rsi2 > rsi1) return true; // Hidden bullish divergence (price makes higher low, RSI makes lower low) if(price2 > price1 && rsi2 < rsi1) return true; } return false; } //+------------------------------------------------------------------+ //| Check if market is open | //+------------------------------------------------------------------+ bool IsMarketOpen() { MqlDateTime dt; TimeCurrent(dt); // Check if it's a weekend if(dt.day_of_week == 0 || dt.day_of_week == 6) return false; // Check if it's within trading hours (assuming 24/5 market) // You can modify these hours based on your broker's trading hours int hour = dt.hour; int minute = dt.min; // Market is open 24/5 except weekends return true; } //+------------------------------------------------------------------+ //| Expert tick function | //+------------------------------------------------------------------+ void OnTick() { // Check if market is open if(!IsMarketOpen()) { Print("Market is closed - resetting extrema"); ResetExtrema(); return; } // Check for new bar datetime currentBarTime = iTime(_Symbol, BarTimeFrame, 0); if(currentBarTime == lastBarTime) return; lastBarTime = currentBarTime; // Get current RSI value double rsiBuffer[]; ArraySetAsSeries(rsiBuffer, true); if(CopyBuffer(rsiHandle, 0, 0, 1, rsiBuffer) != 1) { Print("Error copying RSI buffer"); return; } // Update RSI queue RSILastThree = RSILastTwo; RSILastTwo = RSILast; RSILast = rsiBuffer[0]; // Check if we have enough RSI values if(RSILastThree == 0 || RSILastTwo == 0) return; // Check for local extrema bool isMaxima; if(IsLocalExtrema(RSILastThree, RSILastTwo, RSILast, isMaxima)) { // First extrema (must be overbought/oversold) if(!hasFirstExtrema) { if((isMaxima && RSILastTwo >= RSI_Overbought) || (!isMaxima && RSILastTwo <= RSI_Oversold)) { hasFirstExtrema = true; isOverboughtExtrema = isMaxima; priceFirstExtrema = iClose(_Symbol, BarTimeFrame, 1); rsiFirstExtrema = RSILastTwo; firstExtremaTime = iTime(_Symbol, BarTimeFrame, 1); // Draw first extrema string firstExtremaName = extremaPrefix + "First_" + TimeToString(firstExtremaTime); DrawExtremaPoint(firstExtremaName, firstExtremaTime, priceFirstExtrema, isMaxima ? clrRed : clrGreen, 234, "1st " + (isMaxima ? "OB" : "OS")); Print("First extrema detected - Type: ", isMaxima ? "Overbought" : "Oversold", ", RSI: ", rsiFirstExtrema, ", Price: ", priceFirstExtrema); } } // Second extrema (check for divergence) else if(!hasSecondExtrema) { priceSecondExtrema = iClose(_Symbol, BarTimeFrame, 1); rsiSecondExtrema = RSILastTwo; secondExtremaTime = iTime(_Symbol, BarTimeFrame, 1); if(CheckDivergence(priceFirstExtrema, rsiFirstExtrema, priceSecondExtrema, rsiSecondExtrema, isOverboughtExtrema)) { hasSecondExtrema = true; // Draw second extrema string secondExtremaName = extremaPrefix + "Second_" + TimeToString(secondExtremaTime); DrawExtremaPoint(secondExtremaName, secondExtremaTime, priceSecondExtrema, clrBlue, 233, "2nd Div"); Print("Second extrema detected - Divergence found", ", RSI: ", rsiSecondExtrema, ", Price: ", priceSecondExtrema); } } // Third extrema (must be between overbought/oversold levels) else if(!hasThirdExtrema) { if(RSILastTwo > RSI_Oversold && RSILastTwo < RSI_Overbought) { hasThirdExtrema = true; priceThirdExtrema = iClose(_Symbol, BarTimeFrame, 1); rsiThirdExtrema = RSILastTwo; thirdExtremaTime = iTime(_Symbol, BarTimeFrame, 1); // Draw third extrema string thirdExtremaName = extremaPrefix + "Third_" + TimeToString(thirdExtremaTime); DrawExtremaPoint(thirdExtremaName, thirdExtremaTime, priceThirdExtrema, clrMagenta, 232, "3rd Entry"); Print("Third extrema detected - Trade signal", ", RSI: ", rsiThirdExtrema, ", Price: ", priceThirdExtrema); // Enter trade if(isOverboughtExtrema) { if(!trade.Sell(BaseLotSize, _Symbol, 0, 0, 0, "RSI Divergence Sell")) { Print("Failed to execute sell order - resetting extrema"); ResetExtrema(); } } else { if(!trade.Buy(BaseLotSize, _Symbol, 0, 0, 0, "RSI Divergence Buy")) { Print("Failed to execute buy order - resetting extrema"); ResetExtrema(); } } } } } // Check for exit conditions if(PositionSelect(_Symbol)) { ENUM_POSITION_TYPE posType = (ENUM_POSITION_TYPE)PositionGetInteger(POSITION_TYPE); if(posType == POSITION_TYPE_BUY && RSILast >= ExitBuyRSIThreshold) { trade.PositionClose(_Symbol); ResetExtrema(); } else if(posType == POSITION_TYPE_SELL && RSILast <= ExitSellRSIThreshold) { trade.PositionClose(_Symbol); ResetExtrema(); } } } //+------------------------------------------------------------------+ //| Reset extrema flags and values | //+------------------------------------------------------------------+ void ResetExtrema() { // Clean up existing objects CleanupExtremaObjects(); hasFirstExtrema = false; hasSecondExtrema = false; hasThirdExtrema = false; isOverboughtExtrema = false; priceFirstExtrema = 0; rsiFirstExtrema = 0; priceSecondExtrema = 0; rsiSecondExtrema = 0; priceThirdExtrema = 0; rsiThirdExtrema = 0; firstExtremaTime = 0; secondExtremaTime = 0; thirdExtremaTime = 0; } //+------------------------------------------------------------------+