Trendline EA Using 200 EMA

Trend Line EA

Strategy Overview

Trades trend line breakouts and breakdown above and below 200 EMA respectively.

Tools Required

200 EMA

Trendline

Time Frame: Any

Minimum Candle to establish a trend: to be set to any value

Maximum Candle to establish a trend: to be set any value

Maximum and Minimum candles are the minimum and maximum candle required to draw a trend valid for opening a trade if other conditions are met. This to avoid opening trades with 3 or 4 candle trend lines.

Money Management included.

Conditions to Place a Buy Trade

1.       Price must be trading above the 200 EMA

2.       Open a Buy Trade once price closes  above a down trend line drawn above the 200 EMA

3.       Stop loss to be at the lowest price within the range of candles in the trend line.

4.       Take profit is a factor of the stop loss. If for instance, the stop loss is 20 pips, and this parameter is set to 2, then take profit should be 40 pips.

5.       Note: EA not to open another trade on the pair if current trade is still running and another signal appears.

Note that the stop loss price is the lowest price within the region the trend line is drawn

Conditions to Place a Sell Trade

1.       Price must be trading below the 200 EMA

2.       Open a Sell Trade once price closes  below an uptrend line drawn below the 200 EMA

3.       Stop loss to be at the highest price within the range of candles in the trend line.

4.       Take profit is a factor of the stop loss. If for instance, the stop loss is 20 pips, and this parameter is set to 2, then take profit should be 40 pips.

5.       Note: EA not to open another trade on the pair if current trade is still running and another signal appears.