Time out EA?

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I have a idea for a EA but I have not seen any applications that would accomplish my goal. So here is the idea...

1. I would use fast and slow moving averages to initiate a buy or sell. (on M30 or 15)

2. take the profit after 15 pips (a moving average crossing in reverse would also indicate a sell)

3. this is where i run into trouble... i have the simple idea of having the EA time out after the profit taking for a period of time or candles, say 2h and the turn back on and have the EA asses whether the fast moving average is still above the slow and make a buy. (a MA reversal would override the time out and would buy into the reversal)

I want the system to be continuous (once the MA indicates a reversal the EA sells the previous position and buys into the current position). I have read tutorial that state you can't make more than one transaction in a candle. Would i fix that by having the the M30 chart be the indicator and the M5 initiate the buy?

Thanks for the help

 

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"back on and have the EA asses"...a Freudian slip?

 

Pava,

That's hilarious... definitely a Freudian slip. I was close only one "s" off, but entirely different world of meanings.

 

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travelbug:
Pava, That's hilarious... definitely a Freudian slip. I was close only one "s" off, but entirely different world of meanings.

I am trained by CIA to watch out for those things....espassially during interrogation....

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