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Support and Resistance Trader - expert for MetaTrader 5

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Views:
2228
Rating:
votes: 18
Published:
2018.09.13 15:50
Updated:
2018.11.22 14:47

The Expert Advisor scans past 500 closing bars and looks for common closing regions as entries. It then uses a simple cross of three moving averages of varied length as a signal for trend development. Once it views a trend developing based on the direction it will search for the closest resistance line and buy or sell when they get as close as 0.005. The strength of the resistance is defined by input: resistance=. This refers to the minimum number of times a bar has closed at the same price level over the past 500 bars. I found the optimal number for EURUSD is 15. This Expert Advisor has been trained for EURUSD, some of the features would need changing considerably to be trained for other pairs.

                                                                                  EURUSD Backtest Jan 2018-present

Kaufman ama - with floating levels Kaufman ama - with floating levels

Kaufman ama - with floating levels

Range Action Verification Index - extended Range Action Verification Index - extended

Range Action Verification Index - extended

Step chart of averages Step chart of averages

Step chart of averages

Step chart of RSI Step chart of RSI

Step chart of RSI