New EA Idea based on confirmed direction
Not likely
Forex is a random mix of extreme prices backed against flat line periods, and back up again. It is doubtful any person or ea will ever trade it with 'holy' perfection. But then pursuit for a better system is half the fun- I suspect you know that or you wouldn't have invested your time in 1700 posts. This is my first post... With all due respect, I hope it never becomes that much fun for me. Nevetheless, I would like to see this made into an ea.
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Semafor is repainting indicator...therefore...
I have an idea for an EA that seems to be profitable and it's simple. Using only the semafor indicator, this EA would open a trade when the first semafor opened on the same side of the price bars aftera new #3 semafor opens! So in other words the trade will be after a confirmed new trend has begun. The TP occurs when the opposite #3 semafor opens. Semafors do repaint but generally for only a short time before they settle so take profit will not be perfect but hey it will most always be in the money. Watching a 4H chart (Day TF seems to be even better), this seems to be reliable and might work as an automated strategy.
Can this be made to perform mechanically? Ideally it would work in multi- time frames, have a magic number, work on ECN, have a Trailing Sl, etc.. Maybe a simple proof of concept ea might be made and if it works as expected, add details later; any thoughts?Hello Herbstability,
There is an Ea here https://www.mql5.com/en/forum/general post # 519 sound similar to what your looking for.
Looks Like it's close but...
MrTools, Thanks for the link, It does look similar but entries don't seem the same.... can Robot Danu be modified perhaps to work as the picture? It would keep a trader in at all times, in with confirmed direction. The risk is that the semafor does major retracement and keeps going, or a ranging market chops up profits. Both seem less likely to persist than the picture shows a 'typical' market acting... your thoughts?
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I have an idea for an EA that seems to be profitable and it's simple. Using only the semafor indicator, this EA would open a trade when the first semafor opened on the same side of the price bars aftera new #3 semafor opens! So in other words the trade will be after a confirmed new trend has begun. The TP occurs when the opposite #3 semafor opens. Semafors do repaint but generally for only a short time before they settle so take profit will not be perfect but hey it will most always be in the money. Watching a 4H chart (Day TF seems to be even better), this seems to be reliable and might work as an automated strategy.
Can this be made to perform mechanically? Ideally it would work in multi- time frames, have a magic number, work on ECN, have a Trailing Sl, etc.. Maybe a simple proof of concept ea might be made and if it works as expected, add details later; any thoughts?