Hello Everyone,
Nice thread, I see it lost its way for a while but is back on track now. Congratulations and thanks to Dave to creator.
I'm new to EA's and stumbled on this thread when I decided to try and learn how to write and use EA's, so far I'm failing miserable but the break through will come, I've tried to set up the EA to buy/sell with a EMA (5,10) cross and an RSI cross of the 50 line, with a 30 pip SL, 30 pip Trailing stop and no TP (thinking being that the trailing stop will close out the trade), I suspect I have a conflict in there at the minute as I can't get a trade to place yet on a back test of the whole of 2014 on a GBP/USD H1 chart.
When I decided I wanted to create an EA my idea was as follows with the intention of using it on 1 hour charts
* 5 EMA crossover a 10 EMA for buy (opposite for sell)
* RSI (14) cross above 50 line to buy (opposite for sell)
* Price above 100-200SMA line to allow a buy and prevent a sell order and again the opposite for a short trade.
(another thought is that when the RSi and EMA cross gives a buy signal the price movement would have to be either below the 200 SMA and moving toward it OR above the 200SMA and moving away from it and the opposite for a sell signal from teh RSI and EMA cross)
The idea is that the trend is your friend, it would need tweaking I'm sure and hopefully targeting the trend will swing things to a positive outcome.
Would it be an advantage in the opinion of you who are experienced EA traders and traders in general to have SMA to confirm the trend direction?
Finally I hope I haven't overlooked something and your all going to tell me that all these options are already in the EA.
Good luck
Lee
Nice thread, I see it lost its way for a while but is back on track now. Congratulations and thanks to Dave to creator.
I'm new to EA's and stumbled on this thread when I decided to try and learn how to write and use EA's, so far I'm failing miserable but the break through will come, I've tried to set up the EA to buy/sell with a EMA (5,10) cross and an RSI cross of the 50 line, with a 30 pip SL, 30 pip Trailing stop and no TP (thinking being that the trailing stop will close out the trade), I suspect I have a conflict in there at the minute as I can't get a trade to place yet on a back test of the whole of 2014 on a GBP/USD H1 chart.
When I decided I wanted to create an EA my idea was as follows with the intention of using it on 1 hour charts
* 5 EMA crossover a 10 EMA for buy (opposite for sell)
* RSI (14) cross above 50 line to buy (opposite for sell)
* Price above 100-200SMA line to allow a buy and prevent a sell order and again the opposite for a short trade.
(another thought is that when the RSi and EMA cross gives a buy signal the price movement would have to be either below the 200 SMA and moving toward it OR above the 200SMA and moving away from it and the opposite for a sell signal from teh RSI and EMA cross)
The idea is that the trend is your friend, it would need tweaking I'm sure and hopefully targeting the trend will swing things to a positive outcome.
Would it be an advantage in the opinion of you who are experienced EA traders and traders in general to have SMA to confirm the trend direction?
Finally I hope I haven't overlooked something and your all going to tell me that all these options are already in the EA.
Good luck
Lee