How are you mathematically defining an uptrend and a downtrend?
Defining The Trend
I was wondering the same thing. I normally just eyeball the the Day chart to determine the direction of the trend or if the market is rangebound.
However a way I imagine if you take a set number candles on the day chart say 21 candles and if a certain percentage of those candles had higher highs and/or higher lows then that would qualify for an uptrend. A down trend will of course be the reverse of the above.
A ranging market would be somewhere between the uptrend and downtrend.
I am sorry I have not totally figured out a way to determine trending/ranging market mathematically, I was hoping to get some ideas from the forum in order to put this Expert Advisor together.
By the way although I use the Day Chart to determine the trend I would actually have the trades execute on the 15 minute chart.
Hope that makes sense.
Someone suggested to me using a moving average to determine the trend. And after doing some research I would like to use this method for the Expert Advisor.
In this case a 55 EMA. If the moving average is below the current candle then this would be considered an uptrend.
If the moving average is above the the current candle then this would be considered a downtrend.
If the moving average is intersecting two or more candles then this would be considered rangebound.
Here is the tricky part of this Expert Advisor as I see it. I would like to use the H1 Chart with the 55EMA to determine the trend.
However I would like the RSI on the M15 Chart. Is this even possible? I don't know as I have no programming skills.
Also the Chart being displayed would be the M15 Chart with the RSI Indicator and hopefully the H1 with the 55EMA could all be calculated in the background, and would not be seen at all (again, if this is even possible).
Optimu - programing
I see you didn't respond any more to my emails. You haven't finished our deal.
At least email me and tell me the truth.
Why don't you all try this?
Try this,(he uses liteforex.com)
rsi>90 && macd<0 tp=10pips
to my findings, no single losing trade since jan2008 till now...
But it is only ~1 to 5 trades per months
This is from a Pro, can anyone please write a MTQ4 script that can automate this. Pls, let's all contribute. Thanks
RSI Expert Advisor
Can you please let me know where to download EA with above RSI indicators and MACD? I have seen some videos on how to identify trends dailyfx
EA involving RSI Crossing over/under its own Moving Average
Does anyone knows how to right the following EA:
IF RSI14 Crosses over its own Weighted MA13 and EMA5 crosses over its own WMA13 go long
Stop loss at 2 pips higher than the most significant High.
Take profit at twice the Stop Loss value. And the opposite is true for the short signals with stop loss and take profit. Thank you and happy trading.