Can this manual strategy be programmed into an EA or not?

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Hi all,

I'm a manual trader thinking of turning my approach to trading into an EA in the near future. Before I post a job on your freelance page I'd like to hear if this EA is actually feasible.

Strategy:

I use the standard MACD indicator in MT4 with the RSI over top of it. MACD has a fixed Max and Min to keep it from moving up and down. See attached chart for example. Buy or Sell orders are signaled when the red MACD line crosses the blue RSI line. This is giving me good buy/sell signals under most market conditions. Nothing new or special about the strategy but it works really well for me. 

EA:

Can the EA be programmed to place a buy or sell order solely based on the MACD line crossing the RSI line? If MACD line crosses the RSI line bottom to top it should trigger a Sell and vice versa.

No MACD input parameters, the EA has to use my indicator and react on the crossing of the lines. If this is possible I'd also like to add stop loss, take profit, trailing stop, set to break even, lot size and max amount of orders opened simultaneously.

Questions:

- Can this be programmed?

- Will orders be triggered as soon as the lines cross or only if they're still crossed after candle close?

- How complex is this as I don't have a clue what to budget for this?

- Is there already an EA available that does exactly what I need?   

Thanks!

Files:
sample.jpg  596 kb
 
forex_future:

I use the standard MACD indicator in MT4 with the RSI over top of it.

Can the EA be programmed to place a buy or sell order solely based on the MACD line crossing the RSI line?

the EA has to use my indicator

- Can this be programmed?

- Will orders be triggered as soon as the lines cross or only if they're still crossed after candle close?

- How complex is this as I don't have a clue what to budget for this?

- Is there already an EA available that does exactly what I need?  

  1. Two standard indicators, two simple calls.
  2. Of course it can. But your images shows a sell when it crossed down and a buy when it crossed up. There are multiple crosses in between. You decide do you want to take those trades or do you need another filter.
  3. You don't have an indicator. #1
  4. #2
  5. You specify, yes, no, or parameter defined.
  6. Go to Freelance and post a job once you figure out #2 and specifics for "add stop loss, take profit, trailing stop, set to break even, lot size and max amount of orders opened simultaneously," and find out.
  7. Unlikely but do your own research.
 
whroeder1:
  1. Two standard indicators, two simple calls.
  2. Of course it can. But your images shows a sell when it crossed down and a buy when it crossed up. There are multiple crosses in between. You decide do you want to take those trades or do you need another filter.
  3. You don't have an indicator. #1
  4. #2
  5. You specify, yes, no, or parameter defined.
  6. Go to Freelance and post a job once you figure out #2 and specifics for "add stop loss, take profit, trailing stop, set to break even, lot size and max amount of orders opened simultaneously," and find out.
  7. Unlikely but do your own research.

Thanks for your input, much appreciated!

Just needed some confirmation that it can be done which seems to be the case.

 
forex_future:

Thanks for your input, much appreciated!

Just needed some confirmation that it can be done which seems to be the case.


I wouldn't spend the money if I were you. The two indicators have no correlation and those crosses you're seeing are just based on visual chart scaling and nothing more. When you zoom the chart in and out all those crosses change because the platform is transforming the window so the two indicators can appear to be overlapped. Mathematically consistency is impossible with this method. 

 
nicholishen:

I wouldn't spend the money if I were you. The two indicators have no correlation and those crosses you're seeing are just based on visual chart scaling and nothing more. When you zoom the chart in and out all those crosses change because the platform is transforming the window so the two indicators can appear to be overlapped. Mathematically consistency is impossible with this method. 


You could be right, but with the specific parameters/settings I use the crosses actually stay the same regardless of the zoom level. On the MT4 mobile app they will change when zooming and scrolling but not on the MT4 desktop platform.

This is why I'm getting such good results in my trades and would consider automating it just to see how it runs on a demo for a number of months. It won't be great when there's a strong continuous trend as the counter trend crosses can result in losses. As long as there is some pullback in the trend and I have a break even setting this could be interesting. We'll see if I ever get it build at least I know it can be done. Thanks for your input!

 
forex_future:

You could be right, but with the specific parameters/settings I use the crosses actually stay the same regardless of the zoom level. On the MT4 mobile app they will change when zooming and scrolling but not on the MT4 desktop platform.

This is why I'm getting such good results in my trades and would consider automating it just to see how it runs on a demo for a number of months. It won't be great when there's a strong continuous trend as the counter trend crosses can result in losses. As long as there is some pullback in the trend and I have a break even setting this could be interesting. We'll see if I ever get it build at least I know it can be done. Thanks for your input!

I don't see how it's possible, they should move with zoom/scroll.

 
Alain Verleyen:

I don't see how it's possible, they should move with zoom/scroll.


They really don't unless we both mean something different. The MACD/RSI crosses in the bottom window of the sample chart always remain the same. Both the MACD and RSI have a fixed Min/Max which keeps them in place regardless of zoom/scroll. But it's ok, I might be using the indicators in a non standard or incorrect fashion, as long as I'm getting good signals I'm happy though.   

 
forex_future:

They really don't unless we both mean something different. The MACD/RSI crosses in the bottom window of the sample chart always remain the same. Both the MACD and RSI have a fixed Min/Max which keeps them in place regardless of zoom/scroll. But it's ok, I might be using the indicators in a non standard or incorrect fashion, as long as I'm getting good signals I'm happy though.   

Compare the values not the pictures, Use data window for that. They (the values) are not even close - not possible to do that what you do visually from a code
 
forex_future:

They really don't unless we both mean something different. The MACD/RSI crosses in the bottom window of the sample chart always remain the same. Both the MACD and RSI have a fixed Min/Max which keeps them in place regardless of zoom/scroll. But it's ok, I might be using the indicators in a non standard or incorrect fashion, as long as I'm getting good signals I'm happy though.   

Ah ok you didn't say all, I see now.
 
Mladen Rakic:
Compare the values not the pictures, Use data window for that. They (the values) are not even close - not possible to do that what you do visually from a code
With a fixed min/max it's possible by interpolating data. If it's worth it from a trading point of view, that's an other matter.
 
Mladen Rakic:
Compare the values not the pictures, Use data window for that. They (the values) are not even close - not possible to do that what you do visually from a code

Yeah I'm just going by the image, the data behind the crosses might be moving as you zoom/scroll. That's why I was asking if the EA could trigger an order simply by the (visual) crossing of the lines. Never used the data window before, will look into that and see what values I'm getting.  

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