New, need help on simple EA
Is this an always in play system?
Yes, tradermaji, this is an always in play system. All existing orders are
cancelled or reversed. What do you think?
soarmy wrote:
Yes, tradermaji, this is an always in play system. All existing orders are cancelled or reversed. What do you think?
Yes, tradermaji, this is an always in play system. All existing orders are cancelled or reversed. What do you think?
I think it is very doable. What kind of results to you have to justify spending time to develop that EA?
By the way, you said ... Buy when MACD and MA's cross up and RSI moves about 50%.
These three things will rarely occur together. You have to be more specific.
They also create contradictory signals. See attached picture.
tradermaji wrote:
I think it is very doable. What kind of results to you have to justify spending time to develop that EA?
By the way, you said ... Buy when MACD and MA's cross up and RSI moves about 50%.
These three things will rarely occur together. You have to be more specific.
They also create contradictory signals. See attached picture.
soarmy wrote:
Yes, tradermaji, this is an always in play system. All existing orders are cancelled or reversed. What do you think?
Yes, tradermaji, this is an always in play system. All existing orders are cancelled or reversed. What do you think?
I think it is very doable. What kind of results to you have to justify spending time to develop that EA?
By the way, you said ... Buy when MACD and MA's cross up and RSI moves about 50%.
These three things will rarely occur together. You have to be more specific.
They also create contradictory signals. See attached picture.
Thank you for pointing that out, as I need to be more specific. I should have said that the three events do not have to occur simultaneously. For example, let's say in the case of a long trade setting up. First the fast MA may cross the slow MA, then the same for the MACD. Then the RSI crosses to >50%, at which point the trade is executed long. And the code would close any short positions, leaving long ones. I'm enclosing the graphic to show how this crossover occurred this Thursday morning. I feel that the effort is well justified as historically it has worked quite well at capturing swing trends. Btw I developed a volume oscillator that locates pivots on the cable. Thanks for the feedback, please let me know what you think
.
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One other thing I need to mention, is that the position only closes and reverses
when all three conditions are met in the opposite direction. This may be
obvious but worth mentioning. So, once the position is open, the MA and MACD
may cross back under, and the RSI may drop below 50%, but the position would be
reversed only when all three conditions are extant. Thanks again for your
feedback.
Oh and one more thing about results. This system is very accurate in catching
major swing reversals. It just crossed over into a long position this morning;
the previous short position captured 377 pips, nearly the full length of the downtrend
from 3 Oct to today. And this historically works out very well.
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One one-hour GBPUSD chart:
Buy when MACD and MA's cross up and RSI moves about 50%.
Sell when MACD and MA's cross down and RSI moves below 50%.
MACD is set at
24 Fast
52 Slow
9 SMA
Moving Averages at set at 10 and 20 periods.
RSI is set at 24 periods.
This EA is probably a "piece of cake" for you expert developers out there, but it is rather overwhelming for a newbie such as myself. Again, your help is greatly appreciated. A simple program, but man does it slam pips! Current trade has been on for over a week and picked up 300+ pips. Thanks for your help!
Soarmy