Eagle_Eye
Hello,
I am sharing this one with you guys, because I really appreciate all the stuff that you guys have been doing!
Mark
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I have been working on this system. It is very simple. Looking back at the charts manually it seems profitable. I am sharing it here hoping that it can be improved and an EA can be coded for it. I cant always stay in front of the screen due to my job, so I really could do with an EA. I welcome your constructive criticism.
System:
Buy Conditions:
1) price is above 50sma, 100sma, 200sma.
2) 50sma is above 100sma, and 100sma is above 200 sma.
3) When a downward trendline is broken, see Chart. The downward trendline is constructed by the 2 recent red circles. The line should just touch the circle.
4) Open with 1 lot with sl at the most recent blue circle (purple line on chart)
5) TP is at least the sl or you can just trail the sl with the blue circles.
The sell conditions are opposite.
Only tried it on 1hour+ time frame.
Regards,
Ali
Related:
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Creator: Ali
Comments
I dont understand step 3. What do you mean by broken? And which picture does it refer to?
I like the strategy, but often there's no descending trendline (if buying). Maybe it's enough to brake recent highest point? But then it's very similar to Alligator+Fractals strategy.