Hi all Experts out there,
I need EA for this mid term system,which uses H1 chart. Any help would be highly appreciated.
Use 1H chart
21 ema (green)
Long trade Rules;
Entry: after the double bottom when the trend reverses and price moves >= 30 pips above 50 ma, 50 ma is slanted upward or flat, the 21 ema crosses upward through 50 sma and the RSI is above 50, go long.
Stop loss: Use 50 pips trailing stop
Exit: When price stops upward movement, double top and bearish reverse bar and 21 ma penetrates down through 50 ma.
Short trade rules ;( opposite of the long trade)
Entry: after the double top when the trend reverses and the price moves >=30 pips below 50 ma, 21 ma crosses downward through 50 ma and RSI crosses below 50, go short
Stop loss: 50 pips trailing stop
Exit: when price stops downward movement, double bottom and bullish reverse bar and 21 ma penetrates above 50 ma
I would appreciate if more experienced traders, when EA is developed, test and make suggestion for its improvement.
You think that will happen before 50 trailing stop is hit? You are a funny guy!!!
Next: how do you calculate a double top or double bottom? Using 50 sma or 21 ema? Just asking
Don't get me wrong though, I'm really interested in this. But lets move this here:
I'd love if all moving average + rsi, stoch, adx ect systems went into one thread.