INDICATORS /EA USED
- Renko chart
- Bollinger band (20,1, applied to closing price)
- MACD (12,26,9 at closing price; limits I use +0,0001 & -0,0001 for EU with 5 pips renko brick size, for other pairs and renko sizes, use macd limits as it suits you.
FOR LONG TRADE
(Candle nomenclature used- Present candle ID is 0, previous one is 1, the one before that is 2 and so on)
Condition A
- Candle 2 (bull) closes inside bb upper band
- Candle 1 (bull) closes outside bb uppper band
- Macd at candle 1 is above upper limit
- Enter at closing of candle 1
Condition B
- Candle 2 bear
- Candle 1 (bull) closes outside bb uppper band and macd is above limit
- Check for candle 3
I. If bear, go for the trade after closing of candle 1
II. If bull, wait till candle 0 closes and if it closes bull, then enter
Exit
- At the end of next bear candle
FOR SHORT TRADE
- Rules are exactly in the reverse manner
I am uploading the basic EA I have created, knock yourself out.....
PS- This is my 1st thread, so please be gentle on me
Attached Images
Attached File(s)
Hoved_renko_bb_macd.ex4
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