We want to create a system that rides a longer trend and cuts short losses. RR will therefor always be more then 1:1. (it is no scalping system).
We will use the ADX value to start a trade and an EMA to determine if it will be a buy or sell (price above EMA = buy, below = sell).
There is an additional Supertrend filter that can be activated to filter out bad trades. (no trade taken when criteria is not met)
Important to mention is also that when a trade closes in a win, no new trade will be taken until price has crossed the EMA again. When a trade closes in a loss or at Break even, this is not the case. Example: Price is above the 100 EMA and ADX value is above 25. We initiate a buy trade and price goes in our favor, the trade hits TP. As long as the price remains above the 100 EMA we do not look for new buy trades. If price has crossed (and closed) below the 100 EMA 1 (or multiple) times, even if this has happened while the trade was still open, we can start to look for new trades again.
If a trade closes into loss or Break even, this does not apply and we can take new trades even without the price crossing the EMA, however we do not take trades at a less favorable place, meaning: We initiate a EURUSD buy trade at 1.05100 and it hits SL at 1.05000. We will look for new trades ONLY when price is above 1.05100 (or when price has crossed and closed below the EMA we will start looking for Sell trades and this rule doesn't apply anymore).
There also is quite a complex money management system that includes Martingale (no grid or same-trade martingale but Next-Trade martingale), calculating lot size based on risk, Trailing stop and so on...
Most money management settings are already implemented in another EA that I can send you so parts of that code can be copied for this EA's money management.
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