Hello Coders and Traders,
I use the Tipu MACD EA but find the function limited, which creates negative results. Can someone update this EA:
I. It needs to be multi-timeframes with confirmation bias as an option for different timeframes.
2. I noticed that all my MTF EA works with candle-close for the EA timeframe and not the timeframe on the chart. I thought the signals should be the EA timeframe with the candle-close on the chart timeframe, but I have not found that to be the case. This means you still get that 4 hr candle shooting up or down, only for the EA to open the trade on a 100 pip candle. This amount of lag is what I find creates these negative results. Whereas, if the signal for the 4hr was used and used candle-close for the chart timeframe, the results would be much better. So if I get a signal for the EA TF e.g. 4hr, it will need to use the chart timeframe candle close to react to the signal.
3. In the event of a false signal (AKA repainting) then some type of mechanism needs to be in place. I would suggest that the EA simply close the trade, but the market seems to eat up EA that functions like that. CJA created a horizontal line EA that uses a timer, which I liked. Is there a way to set up a timer for closing and opening on the opposite signal? If it's a false single, it means it is a continuation and not a reversal. Therefore, the EA should adjust the entry direction on a timer on opposite signals with a retry number option. 1,2,3,4 etc.
I attached the EA I want to update with these functions in mind.
I use the Tipu MACD EA but find the function limited, which creates negative results. Can someone update this EA:
I. It needs to be multi-timeframes with confirmation bias as an option for different timeframes.
2. I noticed that all my MTF EA works with candle-close for the EA timeframe and not the timeframe on the chart. I thought the signals should be the EA timeframe with the candle-close on the chart timeframe, but I have not found that to be the case. This means you still get that 4 hr candle shooting up or down, only for the EA to open the trade on a 100 pip candle. This amount of lag is what I find creates these negative results. Whereas, if the signal for the 4hr was used and used candle-close for the chart timeframe, the results would be much better. So if I get a signal for the EA TF e.g. 4hr, it will need to use the chart timeframe candle close to react to the signal.
3. In the event of a false signal (AKA repainting) then some type of mechanism needs to be in place. I would suggest that the EA simply close the trade, but the market seems to eat up EA that functions like that. CJA created a horizontal line EA that uses a timer, which I liked. Is there a way to set up a timer for closing and opening on the opposite signal? If it's a false single, it means it is a continuation and not a reversal. Therefore, the EA should adjust the entry direction on a timer on opposite signals with a retry number option. 1,2,3,4 etc.
I attached the EA I want to update with these functions in mind.
Attached File(s)