Moving average channel systems usually should be traded on a high time frames (those are trending systems)
Mmm I might have left it to H1 (which was set for a different type of EAs I have been testing).
Trying a couple of runs (one short term at "Full Tick") at M1 (and maybe M5) and see what comes out
What would be a "full tick" mode?
1/ Price must close above 50SMA
2/ Bar must close in upper 25% of its length
3/ Price is rising from below above 50 line or it is already there on RSI (5)
1/ Price must close below 50SMA
2/ Bar must close in bottom 25% of its length
3/ Price is falling from above below 50 line or it is already there on RSI (5)
If those conditions agree green/red arrow appears below/above the setup bar.
We would add the Velocity indicator on chart or if it is possible put the velocity coding directly to the indicator. I am not a coder or programmer, therefore no idea if it is possible to combine in one indicator.
The RSI(5) could be omitted if difficult to code. The Pet-D is momentum bars indicator painting the bars red or green according to the momentum similar to the Velocity indy. They want $1.495 on special, regular $1.995 for the Pet-D!
I've been wanting to have someone code this for a while! Is there anybody here who would do it?
Those 3 conditions will almost never happen at the same time
Probably the "every tick" testing mode in a back test
Why you don't try modified Bollinger Bands channel instead? Trade when price breaks through channel. Settings 0.377 (Fibs)