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WAVES 3EMA

The Waves 3EMA Expert Advisor is a part of the series "Simple trade strategies based on moving averages". Here you can find a short description of it. For more information on how to use this Expert Advisor, the test results and the analysis of its operation please refer to the corresponding article published in my blog TRADING WAY.

You may want to purchase the full version of the Expert Advisor with additional features: Waves 3EMA Martingale.  

Three standard EMA indicators with fast, medium and slow periods are used for generating signals. All operations are performed according to formed bars on the current timeframe.


The list of Expert Advisor parameters:

  • Fast Indicator Period – period of the fast EMA indicator (with a smaller period).
  • Medium Indicator Period – period of the medium EMA indicator (with a medium period).
  • Slow Indicator Period – period of the slow EMA indicator (with a greater period).
  • Difference Bars – number of bars for calculation of the deviation of the current value of the slow indicator from the previous value.
  • Difference – difference (in points) between the current and the previous value of the slow EMA, the considered previous value is located Difference Bars bars back. If you set a zero value, the filter will not be used.
  • Take Profit – distance in points from an entry point to the level of fixing a profit. If you set a zero value, the level of fixing a profit will not be set.
  • Stop Loss – distance in points from an entry point to the protection level. If you set a zero value, the protection level will not be set.
  • Trailing Stop – step in points used for modification of the protection level in the profitable direction. The level is calculated using maximums (High) for Sell positions and minimums (Low) for Buy positions. If you set a zero value, modification of the protection level will not be performed.
  • Reverse – in this parameter, one can specify if positions will be reversed in case an opposite signal appears.
  • Lot – position volume.


Conditions:

A signal to open a position is true if the following conditions are fulfilled:

For a BUY position:

  1. The fast EMA is above the medium EMA, and the medium EMA is above the slow EMA.
  2. The medium and slows EMA are pointed upwards (ascending).
  3. The third condition can be one of the following:
  • Close price of the formed bar is below the fast EMA and above the medium EMA (this condition is demonstrated on the picture below).
  • The formed bar crosses the fast EMA upward.

For a SELL position:

  1. The fast EMA is below the medium EMA, and the medium EMA is below the slow EMA.
  2. The medium and slows EMA are pointed downwards (descending).
  3. The third condition can be one of the following:
  • Close price of the formed bar is above the fast EMA and below the medium EMA (this condition is demonstrated on the picture below).
  • The formed bar crosses the fast EMA downward.


Additional parameters and features:

The Expert Advisor has two additional parameters:

  • On/Off Info Panel – enables/disables the informational and trading panel on the chart.
  • Setting “On The Fly” – enables/disables the possibility to adjust parameters using the informational and trading panel.

Several Expert Advisors from this series can be attached to different charts (symbols) without causing any conflicts in their operation.

Andrey Litvichenko
7566
2017.10.18 05:27 
 

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Nork
6022
2016.12.24 04:21 
 

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Rodrigo da Silva Boa
7193
2016.01.23 23:49 
 

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Gennadiy Sidorov
1462
2014.05.16 07:55 
 

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Vadim Strelkov
7946
2014.03.20 12:15 
 

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