DragonRSIcBot is an automated trading robot for the cTrader platform that uses the Relative Strength Index (RSI) to initiate trades combined with a grid and martingale strategy for position management. It opens an initial buy trade when the RSI falls below a configurable oversold level and a sell trade when the RSI rises above a configurable overbought level. The RSI period and data source are adjustable.
Once a trade basket is open, the bot adds positions in the same direction if the price moves adversely by a set step size in pips from the last entry, increasing position size exponentially based on a configurable lot multiplier, capped by a maximum lot size. The entire basket closes when the combined net profit reaches a target profit level.
Risk controls include blocking new entries if the spread exceeds a set maximum, stopping and closing all positions if account equity falls below a defined threshold, and halting grid additions if insufficient funds prevent new orders.
Key parameters include initial trade volume, RSI settings, martingale/grid usage, step size, target profit, lot multiplier, stop equity, max lots, max spread, and a label for grouping positions. The bot supports multiple symbols and markets such as Forex, indices, commodities, crypto, and stocks. Users are advised to test settings on demo accounts due to the inherent risks of martingale and grid strategies.