Disliked{quote} this simple chart contains RSI on m5, m15, m30, h1, h4, D, W, MN sma 20, 50, 100, 200 % change from week open and yet, like an idiot i closed my winning short for just +102 pips {image}Ignored
But what I mean is that indicators and EAs cannot give you a clear sign of what could happen next, just like anything else of course.
You can see an increase in interest rates (for example) and the currency weakening 300pips instead of strengthening.
Or you can see a support/resistance and price not even caring 2 pips bounce on it.
Looking at your chart (just 4 example in what I mean about EAs and indicators)
The setup could suggest a buy opportunity near 1.20. Ok RSI pointing down but many times it keeps bouncing on that level to reach the top of indicator value.
Probably once stopped out on the position there is a short opportunity next.... but what if market starts bouncing in a 50-150pips range? That's the moment where a martingale will blow the account (unless strong conditioning on the code) and most of EAs will start a losing. Also of course most of traders (me included) will get losing positions because of wrong entries, mind changes, and so on
Yesterday was the past