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DislikedOK I closed out all shorts for 70 pips profit - it's thanks to our new system!
Cyber1 very kindly fixed an EA that I'm very interested in. It's called "price_bounce_off_MA" and it initiates a trade when price action bounces off the SMA or EMA that you choose.
Probably best to set it up to open a trade off the 62 EMA most times.
I'm attaching it hereto for anyone who want's to test it out. I think it's great to set up when one sees a good break out in the early morning and one hasn't got time to hang around watching the chart all day! Probably...Ignored
DislikedOK I closed out all shorts for 70 pips profit - it's thanks to our new system!
Cyber1 very kindly fixed an EA that I'm very interested in. It's called "price_bounce_off_MA" and it initiates a trade when price action bounces off the SMA or EMA that you choose.
Probably best to set it up to open a trade off the 62 EMA most times.
I'm attaching it hereto for anyone who want's to test it out. I think it's great to set up when one sees a good break out in the early morning and one hasn't got time to hang around watching the chart all day! Probably...Ignored
DislikedThanks for all your help jmtini.Testing system and ea when I have it set up.
Can you tell me what the MA_Modes are so I can set it to the correct version of the 62 mav ?
Many thanks once again.Ignored
DislikedHi klw
Are you talking about the EA? If so I'll post some instructions over the weekend. As far as the 62 EMA is concerned I use the attached indicator which was actually made for this EA! If you want to find out more about the EA please see this thread: http://www.forexfactory.com/showthread.php?t=167918Ignored
DislikedHope you have a great holiday, jdva
I'm afraid that I need another 5000 pips before I can afford to take mine!
Anyway I am going to test the price_bounce_off_MA (modified) EA next week on a VPS that I've purchased. Seems to work fine on the strategy tester but it's got to be tested live of course.
I have attached today's chart again where the price_bounce_off_Ma expert advisor would have worked really well off the 62 EMA - one can set up up to take 10 pips profit everytime (or whatever you like)Ignored
DislikedI use the vegas 1 hr tunnel ema lines as my "ultimate" resistance/support on the 5 min chart - a nice "filter" - When it is broken it very effectively tells me that the trend has changed. A good example was the AUDUSD chart yesterday (attached)
I've found that a very good method for detecting a break out and good entry point is using the stochastic indicator to look for diversion. I'll try to post some examples later.Ignored