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Simple Modification of RM G3 RSI Multiplier DEMAs REVERSAL v7.06
This is a straight forward simple modification.
The present EA is based on the RSI indicator, with default settings of 70/30. The second indicator used is the "DEMA" (ie Double Exponential Moving Average"). In its present form, there are two entry conditions namely, FIRST CONDITION - the price must have breached and then exited either of the RSI pres-set (default set at 70/30) thresholds; and (if the DEMA indicator is enabled/turned ON) SECOND CONDITION - that the Fast DEMA must have crossed the Slow DEMA within that exiting candle or the next candle. So, if the cross of the Fast DEMA over the Slow DEMA only happens two or more candles after exiting the RSI treshold, then it is NOT a valid entry signal.
I want to modify slightly with regard to the SECOND CONDITION as follows - instead of just fixed on that two candles (ie exiting & next candle), I want to modify it to allow the user to pre-set the number of candles (after the exit candle) to allow the cross of the DEMAs. I want the following parameters to be added in (please add it just below the parameter 'DEMA Enabled' and please code the value given as default):
Max DEMA Cross Candles - 10
Using the above default value of 10 candles - it means that after the price had exited the pre-set RSI threshold (the candle which exited the RSI threshold is counted as candle number 1) and so long as the Cross of the Fast DEMA over the Slow DEMA takes place within the next 9 candles, then it will still be a valid entry signal and the EA must immediately start a trade cycle.
I hope I have made it clear enough.
Apart from this simple modification, everything else must be kept and maintained as they are now and must not be altered in any way.
END.
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