Thanks Mrdfx for the great ea,
I have been looking for better entries and so far what I have found is using weekly pivots as entry areas. If your Ea, says on Monday there is a good buy trade for instance, I wont enter right away. I will wait for price to come back below the weekly pivot on the 4 hour chart and touch any of the support levels and then enter long on the close of the candle as long as it hasnt broken and closed below that support. If it has broken and closed below the previous support then I look to enter on the next support level as long as the 4 hour candle closes above it after it has been touched.
Sometimes on the 4 hour chart price will close below that support level that it broke and then not reach the next support level. In this case, I would wait for price to close back above the previous support and then enter long I thought maybe this would be easy to enter into the EA as it is a simple indicator and catches the retracements. Just an idea but seems to work well. Been testing it manually.
Cheers
I have been looking for better entries and so far what I have found is using weekly pivots as entry areas. If your Ea, says on Monday there is a good buy trade for instance, I wont enter right away. I will wait for price to come back below the weekly pivot on the 4 hour chart and touch any of the support levels and then enter long on the close of the candle as long as it hasnt broken and closed below that support. If it has broken and closed below the previous support then I look to enter on the next support level as long as the 4 hour candle closes above it after it has been touched.
Sometimes on the 4 hour chart price will close below that support level that it broke and then not reach the next support level. In this case, I would wait for price to close back above the previous support and then enter long I thought maybe this would be easy to enter into the EA as it is a simple indicator and catches the retracements. Just an idea but seems to work well. Been testing it manually.
Cheers