OILFXPRO TRENDMASTER double macd EA freeversion - page 3
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Its solely based on Cid's idea that when Histogram crossed 0.0007 to make a buy and -0.0007 to make a sell trade. So, here we are.
Regards
DavidThen what is the second indicator doing and do both indicators have to agree at some point for a buy or sell?
Then what is the second indicator doing and do both indicators have to agree at some point for a buy or sell?
If you bother to read the settings, code and this thread ,u will get the answers.
The second MACD is longer trime fram and the first is the quicker time frame and trigger.
I would be repeating what is already written in this thread .So read the first post and settings
MACD 1 with settings 12,18 and 15
MACD 2 with settings 48,104 and 36
Set trigger level on Macd 1 at 0.0007 and -0.0007
For longs both macd must be positive and trigger levels 0.0007 must be touched and for shorts both macds must be negative and trigger level of
-0.0007 must be touched
OILFXPRO
Then what is the second indicator doing and do both indicators have to agree at some point for a buy or sell?
For your information, if you use this EA on JPY pairs, which is 2 decimal places, you need to change the trigger to 0.07 instead of 0.0007. Or it will keep opening sell when the 1st indicator and 2nd indicator below 0.
Regards
David
p/s: As Cid only provided example of EURUSD, which is 4 decimal places, thats why he empathized of using 0.0007
Here are some tests on gbp usd average 700 pips a year
The tester can not test in one go
OILFXPRO
Some more tests on cable
For your information, if you use this EA on JPY pairs, which is 2 decimal places, you need to change the trigger to 0.07 instead of 0.0007. Or it will keep opening sell when the 1st indicator and 2nd indicator below 0.
Regards
David
p/s: As Cid only provided example of EURUSD, which is 4 decimal places, thats why he empathized of using 0.0007David
Is it possible to put in the code that if its on a YEN pair then force the decimal change no matter what someone inputs?
ET
This should work. But the trigger you dont put 0.0007 any more, or 0.07. Just put 7 on the triggers, it will auto convert according to the specified pairs.
Regards
David
I'm also assuming that EA is set to check - as long as signal is still valid by set gap amount then trigger the pending order, correct? Just trying to get straight in my head what is going on with the pending order, trigger signal and gap amount.
EDIT: see second pic. EA didn't close pending at 19:15
Why is the Gap and Pending order used anyway? Why not just open the trade right when MACD signals?
Why is the Gap and Pending order used anyway? Why not just open the trade right when MACD signals?
The gap and pending order keeps you out of ranging market.If you get a 20 extra pip move after a signal,it is often confirmation of a strong trend.In a ranging market you should get many false signals ,if u used only MACDS.That is my belief
.
Pending order gap can be varied from 10 to 50.Cable might perform better at 40 .Test out different variations
Due to the type of orders being placed ie buy stops and sell stops ,these have to be far from current bid offer price ,so u have a pending order gap.If they are not far ,most orders will be rejected.
Once you find the best settings for each pair run some forward tests.
OILFXPRO