Hi,
I''ve had no response from uk programmers so opening this up to anyone who wants a go!
EA to run 24/5 on the euro/usd .
Esssentially this will be a 'scalping' ea that seeks to exploit repetitive price behaviour that occurs daily on 'average' 3 times per day,
although historically some days there are no trades at all.
Visual backtest for last 3 months are good but the data I have does not go back any further, so the results are inconclusive at this point.
This method was developed after watching countless hours of price movement.
What I noticed was that even in strong uptrends there were retracements, but I didn't know where to hop on to the trend.
So I used a pair of ma's and noticed that often price would seem like it came back to the ma's, but sometimes it touched them and sometimes it went through. So I used an offset ma to get me in only if price hit it.
So this method uses a 5 and 8 ema but this isn't a crossover method.
The 5 ema has an offset ma 14 pips above and 14 pips below it.
When the 5 ma is above the 8 look for retracement to the lower offset ma. This is the long entry signal. Reverse for short.
As you can see from the chart the lower offset ma is the entry and the higher one is the target.
The two attached charts are 4hr cable and 15 pip range eur/usd.
So you can see the method should be able to be used for any kind of price chart.
If anyone is interested the ma's and offset ma's and stoploss should be variables .
Thankyou to anyone who wants to build this ea.
Regards Jason
I''ve had no response from uk programmers so opening this up to anyone who wants a go!
EA to run 24/5 on the euro/usd .
Esssentially this will be a 'scalping' ea that seeks to exploit repetitive price behaviour that occurs daily on 'average' 3 times per day,
although historically some days there are no trades at all.
Visual backtest for last 3 months are good but the data I have does not go back any further, so the results are inconclusive at this point.
This method was developed after watching countless hours of price movement.
What I noticed was that even in strong uptrends there were retracements, but I didn't know where to hop on to the trend.
So I used a pair of ma's and noticed that often price would seem like it came back to the ma's, but sometimes it touched them and sometimes it went through. So I used an offset ma to get me in only if price hit it.
So this method uses a 5 and 8 ema but this isn't a crossover method.
The 5 ema has an offset ma 14 pips above and 14 pips below it.
When the 5 ma is above the 8 look for retracement to the lower offset ma. This is the long entry signal. Reverse for short.
As you can see from the chart the lower offset ma is the entry and the higher one is the target.
The two attached charts are 4hr cable and 15 pip range eur/usd.
So you can see the method should be able to be used for any kind of price chart.
If anyone is interested the ma's and offset ma's and stoploss should be variables .
Thankyou to anyone who wants to build this ea.
Regards Jason