Question

Does anyone know how to code the ability for an EA to recognize manually drawn fibs or trend lines. In other words, the EA will know that a fib or TL is between the current price and TP, and therefore not enter. On the other side of things, if you could set the EA to take profit or loss at one of these manually drawn lines regardless of if it where the 38.2, 50.0 etc. or TL, as long as it was more than a pre defined number of pips away. That brings up another question, how to code all manually drawn lines as the same value. What I mean is, how does the EA recognize any fib, TL, horizontal, or SR line drawn as possible roadblock to momentum.

Basically setting some discretionary guidelines for an already existing EA. The reason I'm asking is I've just recently been testing an EA, and it went long right into TL resistance. Manually trading, I never would have entered long at that point. It entered, I had a good feeling from the get go I was going to lose money and I did. Any help would be much appreciated.

Thanks

Any thoughts?

It's possible, but the EA will have to know the "Name" of the object. That's where it gets tricky

Thanks for the reply. I've noticed that the same name can't be used on two diffent lines. Can an EA recognize the Description of an object? That sounds like it would be too easy though. Say you changed the description of all fib and TL levels to the same thing (LINE for example).

double LONG_ROOM = ((Price + X_Pips*Point) < LINE);

I guess you would need to use some sort of Object funcion as well, wich I know nearly nothing about. The reason I'm looking for help on this is I have tried a bunch of Auto Fib and TL indicators, but they sometimes lack common sense.

On a side note. By the way Ronald, I just started looking at your Heat Map Indicator, and it sure shows a lot of potential, Thanks. It is somewhat similar to something I did a couple of months ago. If you have a Candlestick Pattern Indicator, and attach it to the EUR/YEN weekly chart, and put a horizontal line at the top of each Star, and bottom of each Hammer, and then go to an hourly chart, you will notice some pretty good predictability of price action. I manually entered each trendline from now all the way back to 1989 (took a while). I'll attach the indicator if you would like to take a look. Someone would most likely be able to add the code needed to automatilcally draw the lines, but at this point it is beyond me. I've never attached an image, so I'll try to figure it out and do so.