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This is the logic of a Forex EA.
This EA is very unique.
Normally, entries are made immediately based on overbought and oversold values of the RSI indicator.
However, this EA is different.
It is slightly modified.
It doesn’t enter immediately once it becomes oversold.
Instead, it waits a bit after oversold conditions to see a reversal before entering.
The same theory applies to overbought conditions.
After it becomes overbought, it waits a while to see the price return.
It enters based on that timing, avoiding unnecessary entries.
Profit is set by default to take profit.
At most, the EA holds three orders simultaneously, but if their total goes into take profit, all orders are closed.
Stop loss is the opposite signal.
For example, if a buy entry is made, it will automatically close if the conditions for a sell entry are met.
This can be set for safety purposes.
