Hello traders,
Here is a simple EA. the concept is this. A moving average is either one of two things it is either a support line or resistance line.
Other concept is resistance becomes support and support becomes resistance. THis ea uses moving averages and tries to determine when
resistance has become suport and vice versa. Also finally have figured out how to get different Stop loss for various positioned opened.
A strategy test reveals this is profitable. Now just have to do a forwardtest. Basically the current settings on the EA is using 24Exponential Moving average 1Hour chart
as the support resistance. if you want you can put stop loss of your choice.But my stop loss system looks at where price is in relation to the moving averages and then places a stoploss. if price is within 5pips of the main moving average it will place stop loss 25pips away from moving average if price is 20 pips away from moving average it will place stop loss 10 pips below the close of last hour candle. if price 20 pips above this current h1 candle it will place stop loss 15 pips below ask. i have been describing stop loss when buy positions will open. A buy is opened if price is above the Moving average, a sell is opened if price is below the moving average.But it has reads the situation. Just because price goes below the moving average a sell will open if sellers have indicated they are going with the momentum or if volatility is got juice . point is the EA is coded to read in to the situation at hand to reduce fake entries. and iit does enter a fake to be able to cut losses.
Here is a simple EA. the concept is this. A moving average is either one of two things it is either a support line or resistance line.
Other concept is resistance becomes support and support becomes resistance. THis ea uses moving averages and tries to determine when
resistance has become suport and vice versa. Also finally have figured out how to get different Stop loss for various positioned opened.
A strategy test reveals this is profitable. Now just have to do a forwardtest. Basically the current settings on the EA is using 24Exponential Moving average 1Hour chart
as the support resistance. if you want you can put stop loss of your choice.But my stop loss system looks at where price is in relation to the moving averages and then places a stoploss. if price is within 5pips of the main moving average it will place stop loss 25pips away from moving average if price is 20 pips away from moving average it will place stop loss 10 pips below the close of last hour candle. if price 20 pips above this current h1 candle it will place stop loss 15 pips below ask. i have been describing stop loss when buy positions will open. A buy is opened if price is above the Moving average, a sell is opened if price is below the moving average.But it has reads the situation. Just because price goes below the moving average a sell will open if sellers have indicated they are going with the momentum or if volatility is got juice . point is the EA is coded to read in to the situation at hand to reduce fake entries. and iit does enter a fake to be able to cut losses.
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