Hi I am trying to make a basic trading concpet a bit more strategic. There are plenty of systems and EAs which are triggered by breakouts but not sure there is a way to create an EA for a reversal when it breaks previous support or resistance. By definition these would be with in range so not so easy to identify as say a new high would be.
Anyway, obviously you can do this by hand but that becomes more subjective so I was wondering what indicator would you suggest to use so the break of support or resistance is consistant in each trade. I was thinking along the lines of super trend or something.
Here's what I am trying to do Forex Trading System 1 . If you look at the chart I am looking for a way to have signal for when the blue line or a similar indy gets breeched after the break of the BB. Really just trying to get entry more consistant.
Why don't you try Guppy and moving averages. i am also using this.let me study more about this chart, then I can suggest you better. ok
thanks for the reply. Will take a look at guppy.