✔How to Create a Binary Option Bot with IQ Robots Constructor based on RSI Indicators

we'll create a robot that will trade based on data from the RSI indicator the robot will search for moments when the RSI is in the overbought or oversold area during the last three candles and the last value of this indicator has started moving backwards to create the robot click create new robot enter a name for the robot and click create there are already two starting blocks here on candle and on tick we need the on candle block since the robot will be using candles for generating signals and opening trades candles are received for all time periods so you have to filter out the candles for just the period you need use the filter candle block to do this it is located under strategies standard blocks and it's called candlestick filter add it to the designer and set a connection between the blocks in the settings set the period to 1 minute and make this parameter global then add the RSI blog and set a connection between the blocks in the parameters for the RSI indicator leave the default value set to 12 and make this parameter global as well next use the transform block to get the last three RSI values which we need in order to set the conditions for generating signals for trading set a connection between the blocks in the parameters specify which indicator values you need and separate them with commas first second and third then add to Const blocks that you will use for setting the overbought and oversold levels for the RSI indicator the datatype for these parameters will be real number and the values will be 70 and 30 respectively you make these parameters global now in order to check the conditions for generating signals you need to add three earth blocks for each signal you will use them to check where the indicator line was during the last three candles above or below the overbought or oversold levels add one more if block in order to check whether the direction of the indicator line changed we are adding a total of seven if blocks in order to check two input values in an if block you need to add a second entry connector now we can check whether the indicator line was above the overbought level the last next-to-last and the third value of the indicator then we'll check whether the direction of the it has changed and we'll check whether the indicator line is below the oversold level now we need to make sure that all the conditions were met use the data validation box for this in the block parameters enter the value for this means that we will check for conditions and set the corresponding connections from s blocks the last three RSI values were above the overbought level and the current value is less than the previous one you the same applies to the second signal the current value must become greater than the previous one and the three last ones must be less than the oversold level now let's make it possible to set the expiration time manually and change this parameter externally to do this add another constant block where we can set the corresponding expiration index in the parameters select the integer datatype set the value to one and make this parameter global use the create signal box to generate higher and lower signals create connections between the asset and create signal box for the first block the signal is put for the second one the signal is call in the expiration time parameter make the add input connector button active after this the block gets another input connector which you give the value from the constant block that corresponds to the expiration time combine the signals in a single branch using the union block called data integration it outputs what it received on at least one of the connectors if data was received by both input connectors simultaneously the first one is used since we decided to use the martingale strategy add this block which is located under strategies standard blocks establish the connection and set the value to 10 in the block parameters this parameter sets how much the profit from the last trade will cover previous losses add another block that will let the robot open a trade only when the profit percentage for an asset is greater than a specific value such as 80% this block is located under strategies filters and is called minimum profit percentage and the last step for creating the robot is adding a block that will open a trade it is located under tools trading and is called open a position now save the robot by clicking save in the upper left corner the next step is to test the robot on different currency pairs with different parameters choose the most optimal and profitable variation and launch it you

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *