I have been trading the USD majors on a discretionary basis pretty well while using a systematic trend indicator.
Essentially, the goal of this indicator is to determine whether we are currently in an uptrend/downtrend. From that I use support/resistance, and feel to time my market entries/exits. I feel like the indicator itself could be simplified so I don't have to look at as many charts as well as show you guys how I am trading it.
If someone, would be kind enough to code up a simple alert EA for this in MQL4 I would be very grateful. If not, I hope you guys try this out and give me some feedback.
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We use 3 timeframes in order to determine the trend. So say we have Daily/H4/H1 charts.
On each charts, I pull up a EMA period of 8 as well as MACD with 12/26/9 parameters.
So an uptrend is established when:
1. The daily chart has the EMA of the previous bar, and the bar before sloping upwards AND the MACD bar of the previous bar and the bar before sloping upwards.
2. The H4 chart has the EMA of the previous bar, and the bar before sloping upwards AND the MACD bar of the previous bar and the bar before sloping upwards.
3. The H1 chart has the EMA of the previous bar, and the bar before sloping upwards AND the MACD bar of the previous bar and the bar before sloping upwards AND the MACD bar is in POSITIVE territory.
The vice versa for shorts.
-Ideally with the EA I would like to plug into a chart and it would handle it for all the charts.
-It should also be possible to use the trend indicator for multiple types of timeframes (M15/M5/M1 or D1/H4/H1 etc).
-Whenever a trend situation occurs, it should note on the chart preferably with some flashing/color change etc (so that its easy to notice).
-It would be super awesome if its possible to get an email when a trend situation occurs.
If someone wants to help me out coding this EA it would be huge. But regardless, post your comments/suggestions and I will try to walk you through with how I use this tool.
Thanks a lot guys.
Essentially, the goal of this indicator is to determine whether we are currently in an uptrend/downtrend. From that I use support/resistance, and feel to time my market entries/exits. I feel like the indicator itself could be simplified so I don't have to look at as many charts as well as show you guys how I am trading it.
If someone, would be kind enough to code up a simple alert EA for this in MQL4 I would be very grateful. If not, I hope you guys try this out and give me some feedback.
==================================
We use 3 timeframes in order to determine the trend. So say we have Daily/H4/H1 charts.
On each charts, I pull up a EMA period of 8 as well as MACD with 12/26/9 parameters.
So an uptrend is established when:
1. The daily chart has the EMA of the previous bar, and the bar before sloping upwards AND the MACD bar of the previous bar and the bar before sloping upwards.
2. The H4 chart has the EMA of the previous bar, and the bar before sloping upwards AND the MACD bar of the previous bar and the bar before sloping upwards.
3. The H1 chart has the EMA of the previous bar, and the bar before sloping upwards AND the MACD bar of the previous bar and the bar before sloping upwards AND the MACD bar is in POSITIVE territory.
The vice versa for shorts.
-Ideally with the EA I would like to plug into a chart and it would handle it for all the charts.
-It should also be possible to use the trend indicator for multiple types of timeframes (M15/M5/M1 or D1/H4/H1 etc).
-Whenever a trend situation occurs, it should note on the chart preferably with some flashing/color change etc (so that its easy to notice).
-It would be super awesome if its possible to get an email when a trend situation occurs.
If someone wants to help me out coding this EA it would be huge. But regardless, post your comments/suggestions and I will try to walk you through with how I use this tool.
Thanks a lot guys.