Discussion of article "Learn how to design a trading system by Envelopes"

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New article Learn how to design a trading system by Envelopes has been published:

In this article, I will share with you one of the methods of how to trade bands. This time we will consider Envelopes and will see how easy it is to create some strategies based on the Envelopes.

As this indicator is a percentage of moving average which is an average for a period of prices, during the uptrend prices will move above upper band of Envelopes indicator. So, our strategy here during uptrend will be as follows:

We will get a buy signal when prices cross the upper band of Envelopes upward, then take profit when prices cross the lower band of Envelopes downward.

  • Prices > Upper band = buy
  • Prices < Lower band = take profit

Strategy 1 - Uptrend

Author: Mohamed Abdelmaaboud

 
Thanks a lot! you're making coding simple and easy to understand. I'm gaining a lot. Please keep on sharing article.
 
andrekml #:
Thanks a lot! you're making coding simple and easy to understand. I'm gaining a lot. Please keep on sharing article.

Thanks a lot  andrekml, I am very happy to know that you got a benefit from what I share. 

 

Thank you Mohammed.  Will this work on the MT4 platform?

Regards, Corrie

 
rocirami #: Thank you Mohammed.  Will this work on the MT4 platform? Regards, Corrie

Obviously the article is geared towards MT5 and the example code is MQL5 only.

However, the mathematics and the concepts of how to develop an EA can be applied to MT4, but you will have to adapt it for MQL4 code instead, which can be quite different.

 
Mohamed this is truly great material for learning! Thank you very much for your work and contribution.
 
Thanks for sharing this info.
 
John Winsome Munar #:
Thanks for sharing this info.

You are welcome and thanks for your comment.

 

Please help me for the "comment" on the chart. For the UpTrend strategy, the "comment" of "take profit or stop loss" is set when the price is lower than LowBandValue.

However, I observe it always indicated even the price is higher than LowBandValue.

Thanks.


 
Alexander Miller #:
Mohamed this is truly great material for learning! Thank you very much for your work and contribution.

Thanks for your comment. I hope that it will help to enhance your trading.

 
jesseh1970 #:

Please help me for the "comment" on the chart. For the UpTrend strategy, the "comment" of "take profit or stop loss" is set when the price is lower than LowBandValue.

However, I observe it always indicated even the price is higher than LowBandValue.

Thanks.


Try to revise conditions of strategy of your code.

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