Expert Advisor Development Utilizing RSI (Relative Strength Index) and Standard Deviation Indicators in Forex Trading on USD/CAD Currency Pair

This research focuses on the development and evaluation of an automated trading strategy utilizing the Relative Strength Index (RSI) and Standard Deviation indicators in the USD/CAD forex market. Employing a research and development (R&D) method with a structured Waterfall approach, the study integrates both extensive backtesting and real-time testing on the MetaTrader 5 platform. The backtesting process demonstrated the strategy’s consistent ability to generate profits across multiple timeframes, reinforcing its reliability. Subsequent real-time testing further validated the effectiveness of the strategy in live market conditions, showcasing its adaptability and robustness. Statistical analysis, conducted through the T-test, indicated there is no difference in the average results between the backtesting and real-time testing results across key performance metrics, underscoring the strategy's consistency. The findings suggest that the integration of RSI and Standard Deviation indicators within an automated trading framework offers a dependable method for achieving sustained profitability in the USD/CAD market. This strategy is recommended for full implementation in forex trading and merits further development to optimize its long-term performance and profitability