Hello,
I would like to draw your attention to this trend following system.
The advantage of this system is that during ranging periods it suffers much less losses than other MA cross system that I used.
Here are the rules :
Time frame: 1 hour +
Currency pair: any.
Indicators:
80 EMA
21 EMA
13 EMA
5 EMA
3 EMA
RSI (21)
Trading rules:
80 EMA indicates a major trend direction.
When the price above 80 EMA – uptrend, opposite - downtrend.
21 EMA and 13 EMA give us a current trend direction.
While 13 EMA stays above 21 EMA – uptrend, opposite - downtrend.
RSI (21) above 50 suggests an uptrend, below – downtrend.
Entries are made on a cross of 3 and 5 EMA in the direction of a trend:
BUY : when 3 EMA crosses 5 EMA upward in an uptrend market AND both 3 and 5 EMA cross a channel of 13 and 21 EMA AND RSI is above 50 AND both 21EMA and 13EMA are above 80EMA
SELL : when 3 EMA crosses 5 EMA downward in a downtrend market, AND both 3 and 5 EMA cross the 13, AND both 21EMA and 13EMA are below 80EMA, AND RSI is below 50.
Exit rules:
Just Trailing stop, TP or SL.
Additional rules for the attached EA :
After a trade in a certain direction is closed, another trade in the same direction can be opened only if a cross of 3 and 5 EMAs occurres in the OPPOSITE direction. Meaning that if, for example, LONG position has just closed, the EA will wait till a cross of 3 and 5 EMAs suggests that uptrend is finished.
Only after this happens, another LONG trade is allowed (when all other conditions are met)
I have not backtested this EA since I don't trust backtesting EAs in Metatrader.
I used this EA on my demo account for about a month very successfully.
Unfortunately, the server I ran this EA on had crashed and I am unable to show any statements from Metatrader.
Attached are the EA and the template with all the indicators.
Please copy log.mq4 to Experts/Include folder. Without it the EA won't run.
Enjoy! (any comments will be highly appreciated)
P.S. I am not taking credit for this system. It was not invented by me. I only took advantage of it and wrote the EA.
I would like to draw your attention to this trend following system.
The advantage of this system is that during ranging periods it suffers much less losses than other MA cross system that I used.
Here are the rules :
Time frame: 1 hour +
Currency pair: any.
Indicators:
80 EMA
21 EMA
13 EMA
5 EMA
3 EMA
RSI (21)
Trading rules:
80 EMA indicates a major trend direction.
When the price above 80 EMA – uptrend, opposite - downtrend.
21 EMA and 13 EMA give us a current trend direction.
While 13 EMA stays above 21 EMA – uptrend, opposite - downtrend.
RSI (21) above 50 suggests an uptrend, below – downtrend.
Entries are made on a cross of 3 and 5 EMA in the direction of a trend:
BUY : when 3 EMA crosses 5 EMA upward in an uptrend market AND both 3 and 5 EMA cross a channel of 13 and 21 EMA AND RSI is above 50 AND both 21EMA and 13EMA are above 80EMA
SELL : when 3 EMA crosses 5 EMA downward in a downtrend market, AND both 3 and 5 EMA cross the 13, AND both 21EMA and 13EMA are below 80EMA, AND RSI is below 50.
Exit rules:
Just Trailing stop, TP or SL.
Additional rules for the attached EA :
After a trade in a certain direction is closed, another trade in the same direction can be opened only if a cross of 3 and 5 EMAs occurres in the OPPOSITE direction. Meaning that if, for example, LONG position has just closed, the EA will wait till a cross of 3 and 5 EMAs suggests that uptrend is finished.
Only after this happens, another LONG trade is allowed (when all other conditions are met)
I have not backtested this EA since I don't trust backtesting EAs in Metatrader.
I used this EA on my demo account for about a month very successfully.
Unfortunately, the server I ran this EA on had crashed and I am unable to show any statements from Metatrader.
Attached are the EA and the template with all the indicators.
Please copy log.mq4 to Experts/Include folder. Without it the EA won't run.
Enjoy! (any comments will be highly appreciated)
P.S. I am not taking credit for this system. It was not invented by me. I only took advantage of it and wrote the EA.
Attached File(s)
. as well as the numbers of 3 other accounts with 3 other EAs. a source code of one of them was lost and i am rewriting it.