Hi, I am testing a new method using 62EMA price action. I always see that whenever price (bid price) touch 62EMA (30M time frame), it always retreat at least 20-30pips on GU, GY, EY and much lesser on other pairs. Main filter is the 13EMA.
If the the price touch 62EMA from the bottom, have to make sure 13EMA is at least 20pips away from 62EMA before placing sell order and vice versa for buy order (from the top).
The stop loss can be fixed at 30pips and move it to break even once price moves at least 20 pips in our favor. If it touch the 62EMA again, we can enter again but make sure the 13EMA is still below/above 62EMA.
I tried to do it manually, but the price retreats too fast once it touches 62EMA. Hope someone can help this with simple coding EA.
If the the price touch 62EMA from the bottom, have to make sure 13EMA is at least 20pips away from 62EMA before placing sell order and vice versa for buy order (from the top).
The stop loss can be fixed at 30pips and move it to break even once price moves at least 20 pips in our favor. If it touch the 62EMA again, we can enter again but make sure the 13EMA is still below/above 62EMA.
I tried to do it manually, but the price retreats too fast once it touches 62EMA. Hope someone can help this with simple coding EA.