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This strategy searches for trade opportunities based on what area the close price is, in comparison with Moving Average.
In order to be triggered, a pattern between candles also must occur. The EA works well on trending markets.
It has been initially developed for stock markets indices (SP500, NASDAQ, etc) on Dailychart entering long positions only. However, I refined the strategy in order to enter short positions as well.
It does not use stop loss or take profit, so the losing trades outweigh the winning ones. Thinking about that, this EA has further functionalities built-in:
- Stop Loss
- Take Profit
- Trailing Stop
- Timer function: setup what time robot should trade
- Some others
The EA works on any symbol and timeframe.
- Status on Screen
- Better Performance
- Ability to set another candle look-back for exit