More than anything I am kind of talking this out to get it straight to myself, and if anyone can benefit or provide feedback it is more than welcome. I still feel pretty new at this.
I'm considering creating an EA that uses long term trends such as 4h or 1d moving averages, and trading short term such as 1m or 5m. Would global variables be a good way to accomplish this? It may be useful to have a global variable to define if it is a longer term "buy" or "sell" market. Is anyone familiar with EA's that have done this? I'm sure I am not the first person to do this.
Basic example: On 1d time frame I have a moving average crossover to a buy market for a currency. This EA says buy, so the short term EA buys while in this trend, and ONLY buys. It would TP at 50 pips for example. Another buy opportunity presents itself and it trades again and it keeps doing so until the long term switches back into sell territory.
Is there an easier way to build this into a single EA? Can someone point me in the direction of an EA that does this? Again, I assume I am not the first person to conceive of this.
I'm considering creating an EA that uses long term trends such as 4h or 1d moving averages, and trading short term such as 1m or 5m. Would global variables be a good way to accomplish this? It may be useful to have a global variable to define if it is a longer term "buy" or "sell" market. Is anyone familiar with EA's that have done this? I'm sure I am not the first person to do this.
Basic example: On 1d time frame I have a moving average crossover to a buy market for a currency. This EA says buy, so the short term EA buys while in this trend, and ONLY buys. It would TP at 50 pips for example. Another buy opportunity presents itself and it trades again and it keeps doing so until the long term switches back into sell territory.
Is there an easier way to build this into a single EA? Can someone point me in the direction of an EA that does this? Again, I assume I am not the first person to conceive of this.