I dont know if its an EA or an indicator I need, maybe both.
I've been manually checking it and I think I may be onto something, an EA or indicator would speed it up.
You can see for yourself, I have been testing on the cable. Put on a Exponential Moving Average indicator with a period of 62 onto an hourly chart. If the difference from the EMA value is more than 250 either way of the current price then you have an open signal, if EMA value is less than current, buy, if less sell.
The exit is when the 2 values are equal, eg the lines meet. I also think it would be a good idea to TP a little as it goes along.
It's no grail and needs some manual intervention, but I think its profitable.
All we need now is for one of you super programmers to throw an EA together and we can backtest it for an idea of where we are, then forward test it.
I have attached a chart for yoru viewing pleasure
I've been manually checking it and I think I may be onto something, an EA or indicator would speed it up.
You can see for yourself, I have been testing on the cable. Put on a Exponential Moving Average indicator with a period of 62 onto an hourly chart. If the difference from the EMA value is more than 250 either way of the current price then you have an open signal, if EMA value is less than current, buy, if less sell.
The exit is when the 2 values are equal, eg the lines meet. I also think it would be a good idea to TP a little as it goes along.
It's no grail and needs some manual intervention, but I think its profitable.
All we need now is for one of you super programmers to throw an EA together and we can backtest it for an idea of where we are, then forward test it.
I have attached a chart for yoru viewing pleasure
Attached Image (click to enlarge)
