Hey Guys!
First Post however I am a long time lurker in the shadows of forex factory. I have been using a strategy that has average profitability using 10 pip renko and a 50 EMA. The downfall of this strategy is the frequency of trades as I have only been trading it during the london session so this strategy would greatly benefit it being tunred into an EA for further backtesting.
The Strategy:
BUY IF =A Red Candle followed by 2 consecutive Green Candle is formed and current price (Open of 4th Candle) is Above or touching the 50 EMA.
SELL IF = A Green Candle followed by 2 consecutive Red Candle is formed and current price (Open of the 4th Candle) is below or touching the 50 EMA.
This seems simple enough and yet I have been unable to find an EA close to this.
Any help is greatly appreciated to turning this simple Renko Strategy into an EA!
First Post however I am a long time lurker in the shadows of forex factory. I have been using a strategy that has average profitability using 10 pip renko and a 50 EMA. The downfall of this strategy is the frequency of trades as I have only been trading it during the london session so this strategy would greatly benefit it being tunred into an EA for further backtesting.
The Strategy:
BUY IF =A Red Candle followed by 2 consecutive Green Candle is formed and current price (Open of 4th Candle) is Above or touching the 50 EMA.
SELL IF = A Green Candle followed by 2 consecutive Red Candle is formed and current price (Open of the 4th Candle) is below or touching the 50 EMA.
This seems simple enough and yet I have been unable to find an EA close to this.
Any help is greatly appreciated to turning this simple Renko Strategy into an EA!