Define basic trend
Hi,
I would like to ask for help with coding the current market trend into my EA.
Are there any standard indicators that deal with this, most of the ones I have found online seem to be buggy.
Alternatively is there a standard way of defining trend using price action?
Many thanks
It is the market that is "buggy", the indicators not so much as they only show you what you tell them to show.
There are a dozens of different ways to look at "defining" a trend. Just check the Market for by searching "trend" to see some of the main ways to look at trends.
Search the Articles on this site for more information on the ways of looking at prices to see if they are actually trending.
I use two basic approaches: average price over a period of time and also price action shown by Renko charts. Neither one is foolproof but both have their advantages.
Even with moving averages over time there are lots of ways at looking at this such as Laguerre moving averages as well as typical averages of closing prices over time.
It all depends on what tools you want to use to understand the market. None of them predict the market with accuracy.
Then you have to decide how to develop an approach so that your probability of anticipating the next move is somewhat accurate.
Then money management takes over: decide how much you can risk on the trade and how much you can lose without the losses being bigger than the profitable trades.
There are no guarantees.
Good luck
It is the market that is "buggy", the indicators not so much as they only show you what you tell them to show.
There are a dozens of different ways to look at "defining" a trend. Just check the Market for by searching "trend" to see some of the main ways to look at trends.
Search the Articles on this site for more information on the ways of looking at prices to see if they are actually trending.
I use two basic approaches: average price over a period of time and also price action shown by Renko charts. Neither one is foolproof but both have their advantages.
Even with moving averages over time there are lots of ways at looking at this such as Laguerre moving averages as well as typical averages of closing prices over time.
It all depends on what tools you want to use to understand the market. None of them predict the market with accuracy.
Then you have to decide how to develop an approach so that your probability of anticipating the next move is somewhat accurate.
Then money management takes over: decide how much you can risk on the trade and how much you can lose without the losses being bigger than the profitable trades.
There are no guarantees.
Good luck
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hi,
I would like to ask for help with coding the current market trend into my EA.
Are there any standard indicators that deal with this, most of the ones I have found online seem to be buggy.
Alternatively is there a standard way of defining trend using price action?
Many thanks