Hi
The following thread will be dedicated to the automation of the idea mentioned below.All inputs and opinions are welcomed but let's all please communicate in a civil way.
The system entry and exit criteria are as follows :
Entry Criteria For Longs
If a bar crosses from below the MA to above the MA ,
Then this bar should be considered as a Possible Signal Bar.
Next,
If the Possible Signal Bar closes and a new bar forms ,
Then the High of the previous bar ( now The Confirmed Signal Bar ) should be stored say as "x"
Next,
If price increases from "x" by 2 pips or more
Then a Buy Market Order should be executed. // This Buy will have no TP or SL for now
Only 1 long trade open at any time.
This order will stay open till the Entry Criteria For Short are met and the trading direction is reversed by closing the Buy and opening the Sell as per criteria below:
So,
Entry Criteria For Shorts
If a bar crosses from above the MA to below the MA ,
Then this bar should be considered as a Possible Signal Bar.
Next,
If the Possible Signal Bar closes and forms a new bar ,
Then the Low of the previous bar ( now The Confirmed Signal Bar ) should be stored say as "x"
Next,
If price decreases from "x" by 2 pips or more
Then a Sell Market Order should be executed. // This Sell will have no TP or SL for now
Only 1 short trade open at any time.
This order will stay open till the Entry Criteria For Longs are met and the trading direction is reversed.
Indictors as follows
For the range bars , I use RangeBarChart v1.03a (attached). This goes into File - open data folder - MQL4 - Indicators
The templates used are 1min Range Bar 40/50 Indices & 1m Offline Range bars 40 Indices (attached). These go into File - open data folder - MQL - templates
Start with a chart for GER30 (DAX) 1 min chart and use template 1min Range Bar 40/50 Indices.
Then open Offline chart (in FILE); It should be displayed as GER30 M40 (M50 should also be available for 5 pip bars); Apply template 1m Offline Range bars 40 Indices.
This should produce a chart same as below. (I use FXCM so there may be slight differences with other sources).
As a side note :
Here is a script that Stops the current order and Reverses it for easier manual trading and testing
The following thread will be dedicated to the automation of the idea mentioned below.All inputs and opinions are welcomed but let's all please communicate in a civil way.
The system entry and exit criteria are as follows :
Entry Criteria For Longs
If a bar crosses from below the MA to above the MA ,
Then this bar should be considered as a Possible Signal Bar.
Next,
If the Possible Signal Bar closes and a new bar forms ,
Then the High of the previous bar ( now The Confirmed Signal Bar ) should be stored say as "x"
Next,
If price increases from "x" by 2 pips or more
Then a Buy Market Order should be executed. // This Buy will have no TP or SL for now
Only 1 long trade open at any time.
This order will stay open till the Entry Criteria For Short are met and the trading direction is reversed by closing the Buy and opening the Sell as per criteria below:
So,
Entry Criteria For Shorts
If a bar crosses from above the MA to below the MA ,
Then this bar should be considered as a Possible Signal Bar.
Next,
If the Possible Signal Bar closes and forms a new bar ,
Then the Low of the previous bar ( now The Confirmed Signal Bar ) should be stored say as "x"
Next,
If price decreases from "x" by 2 pips or more
Then a Sell Market Order should be executed. // This Sell will have no TP or SL for now
Only 1 short trade open at any time.
This order will stay open till the Entry Criteria For Longs are met and the trading direction is reversed.
Indictors as follows
For the range bars , I use RangeBarChart v1.03a (attached). This goes into File - open data folder - MQL4 - Indicators
The templates used are 1min Range Bar 40/50 Indices & 1m Offline Range bars 40 Indices (attached). These go into File - open data folder - MQL - templates
Start with a chart for GER30 (DAX) 1 min chart and use template 1min Range Bar 40/50 Indices.
Then open Offline chart (in FILE); It should be displayed as GER30 M40 (M50 should also be available for 5 pip bars); Apply template 1m Offline Range bars 40 Indices.
This should produce a chart same as below. (I use FXCM so there may be slight differences with other sources).
Attached File(s)
1m Offline Range bar 40 Indices.tpl
8 KB
|
628 downloads
Attached File(s)
1min Range bar 40&50 Indices.tpl
19 KB
|
645 downloads
Attached File(s)
RangeBarChart_v103a.ex4
21 KB
|
756 downloads
As a side note :
Here is a script that Stops the current order and Reverses it for easier manual trading and testing
Attached File(s)
Close and Reverse_Slippage_Adjusted.mq4
2 KB
|
579 downloads
|
Uploaded Jun 21, 2016 10:37am
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