Basically, this topic is about an idea for the creation of an expert advisor, if someone finds it interesting enough to work on it.
The rules are very simple, since everyone here says that "the trend is your friend" or some cr@p like that which no one cares about. Anyway, what if we combine the trend-following MAs (for this example we'll take 50EMA) with bollinger bands on something like 21 EMA so the final result will be catching pullbacks AND following the main trend.
I KNOW THIS SOUNDS A BIT MESSY
but hear me out - bollingers are often used to catch breakouts and ride the reversals - so this means that if there is a breakout on the upside of the bollinger bands, but the 50EMA shows downtrend - it will sell, but if the breakout of the bollingers was to the down side, it would have done NOTHING since it would be trading against the trend.
AND the last thing - if it's working well on the M1 chart, this means that there would be no problems with ranging markets, since ranges are really rare on anything less than M15. So, is anyone willing to spend some time coding it?
The rules are very simple, since everyone here says that "the trend is your friend" or some cr@p like that which no one cares about. Anyway, what if we combine the trend-following MAs (for this example we'll take 50EMA) with bollinger bands on something like 21 EMA so the final result will be catching pullbacks AND following the main trend.
I KNOW THIS SOUNDS A BIT MESSY
but hear me out - bollingers are often used to catch breakouts and ride the reversals - so this means that if there is a breakout on the upside of the bollinger bands, but the 50EMA shows downtrend - it will sell, but if the breakout of the bollingers was to the down side, it would have done NOTHING since it would be trading against the trend.
AND the last thing - if it's working well on the M1 chart, this means that there would be no problems with ranging markets, since ranges are really rare on anything less than M15. So, is anyone willing to spend some time coding it?