DislikedReading earlier posts and agreeing with the importance of market read, I have the following question. What is the difference between Long and CT Long, Short and CT Short or Range and MR N/A? Is there some specific difference that changes the EA behavior? At the moment all I see they do is go either only long, only short or long and short. Regards, PeterIgnored
Hi Peter
the market read is there to influence the TLE not the EA, example would be a "super tle" - can handle all market instances (note this is an example not one that actually would necessarily make a profit)
MR is Long - Take Long trades based on HAS candle immediately turning blue
MR is Short - Take Short trades based on HAS candle immediately turning red
MR is CT Long - Take long trades on HAS candle immediately turning blue
Take short trades on HAS candle turning red for 2 bars and distance of price action from HAS is greater than 4 times spread cost
MR is CT Short - as above but reversed
MR is Range - Go Long when candle closes below bottom of bollinger band
Go Short when candle closes above top of bollinger band
MR is N/A - do not take any trades but possibly send an alert when price moves out of a price channel
People will probably have more checks in place when entering counter trend trades or range trades because quite simply they are generally more risky, by specifying which direction the CT trade is you can apply the extra checks to the CT trades without having those extra checks on the Trend trade.
Regards, John