ATR Bound EA - page 2
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Okay so here are some of the things I noticed and think could affect the EA. Currently the trigger is a second MA instead of the price which I believe is causing a few problems in execution.
The next big thing I noticed is that the 3 MA being used to indicate slope is a poor indicator of trend. I spend most of the weekend trying to figure out a better way to indicate trend and am still at a crossroad. Currently I am leaning in the direction of using the two components of ADX, +ADX and -ADX as triggers. An example would be:
Long only when +ADX > 20
Short only when -ADX > 20
The last major change that needs to be implemented is a dynamic Stop Loss and Take profit. The stop loss should trailing as the opposite 1 ATR and the Take Profit should be the outer ATR level.
That should be a good start to update the EA, I will post later today hopefully with more specified details.
Styex
Can anyone help me please. I need to open one position at the time and that position should stay open until it meets the stop or take profit values, only then the EA should look for another buy/sell position to open.