Moving Average Reversal EA
Have you traded this system manually? Is EMA applied to close?
Yes, the MA is applied to close.
I've been using these MA's for awhile in my trading, I have visually backtested (Spreadsheet) this process, and it seems to do well.
The system I've noticed in on the 5 min chart GBP/USD.
Buy if 40EMA and 60SMA are crossed the 200EMA, and Sell if they are below 200EMA.
Reverse Position if you are in a trade and it goes the other way.
And one of the most important things I have found is if you are up 30 pips at any given time, move your SL to break even point.
I noticed the universal MA Cross EA, and I'm going to see if I can adapt that to my process.
My TP is on the next cross, so some are 30 pips and some are 200 pips... I like to limit my SL to 50, but if I can backtest using an EA I might be able to come up with a better number.
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Does anyone know of, or can anyone make me a Moving Average EA that does the following:
I want it to sell if the 40 EMA and 60 SMA have just crossed below the 200 EMA and I want it to buy if the 40 EMA and 60 SMA have just crossed above the 200 EMA.
Also, I want it to close and reverse the position if it's in a sell or a buy and the MA's cross the opposite direction.
Meaning, if I'm in a sell, and the 40EMA and 60SMA cross above the 200EMA I want the EA to close the position, and put in a buy. If I'm in a sell, and the 40EMA and 60SMA cross below the 200EMA I want it close the position and sell.
I would also need the EA to have a stop loss and take profit level. Plus I would like a variable like a trailing stop, so if a certain amount of pips are made, then the Stop Loss gets moved to the break even point to minimize losses.
An auto lot size increment based on a percentage of the account balance would be helpful too.
So, if anyone has something like this lying around I'd love to hear about it.