Expert advisor ?
Two questions come to my mind...
What is overbought and oversold?
How do you define "heading up" or down?
In order to program, these questions need to answered objectively.
Ma
Hi
pretty new to all this been trading Forex for about 2 months (Demo account only) using a trading stratergy as desribed on a website (babypips.com which I found usefull when trying to get to grips with all the different chart/indicators etc).I wondered if anybody out there has an expert advisor that automatically trades (Eyeballs at breaking point after staring at screen for countless hours) the stratergy outlined on there website which are
1: Trade on daily chart (swing trading)
2: 5 EMA applied to the close
3: 10 EMA applied to the close
4: Stochastic (10,3,3)
5: RSI (14)
Stop Loss = 30 pips
Entry Rules
Enter long if:
The 5 EMA crosses above the 10 EMA and both stochastic lines are heading up (do not enter if the stochastic lines are already in the overbought territory)
RSI is greater than 50
Enter short if:
The 5 EMA crosses below the 10 EMA and both stochastic lines are heading down AND (do not enter if the stochastic lines are already in oversold territory)
RSI is less than 50
Exit Rules
Exit when the 5 EMA crosses the 10 EMA in the opposite direction of your trade OR if RSI crosses back to 50
The only problem I've found with it are you sometimes miss out on a lot of pips sticking to the stochastic oversold/overbought rule but other than that it seems to work quite well
I've been working through lessons by codersguru (very helpful, nice of you to take time to help us begiiners out, thanks) but its gonna take me a while so I wondered if anybody had anything similar?
thanksi'm newbie too, i've been real acc for 1 year and my indi just MA 20, 50, 80 exponential for stoch 8,3,3
and still valid until now and i never use EA, thank you
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Hi
pretty new to all this been trading Forex for about 2 months (Demo account only) using a trading stratergy as desribed on a website (babypips.com which I found usefull when trying to get to grips with all the different chart/indicators etc).I wondered if anybody out there has an expert advisor that automatically trades (Eyeballs at breaking point after staring at screen for countless hours) the stratergy outlined on there website which are
1: Trade on daily chart (swing trading)
2: 5 EMA applied to the close
3: 10 EMA applied to the close
4: Stochastic (10,3,3)
5: RSI (14)
Stop Loss = 30 pips
Entry Rules
Enter long if:
The 5 EMA crosses above the 10 EMA and both stochastic lines are heading up (do not enter if the stochastic lines are already in the overbought territory)
RSI is greater than 50
Enter short if:
The 5 EMA crosses below the 10 EMA and both stochastic lines are heading down AND (do not enter if the stochastic lines are already in oversold territory)
RSI is less than 50
Exit Rules
Exit when the 5 EMA crosses the 10 EMA in the opposite direction of your trade OR if RSI crosses back to 50
The only problem I've found with it are you sometimes miss out on a lot of pips sticking to the stochastic oversold/overbought rule but other than that it seems to work quite well
I've been working through lessons by codersguru (very helpful, nice of you to take time to help us begiiners out, thanks) but its gonna take me a while so I wondered if anybody had anything similar?
thanks