Job finished
Execution time 54 minutes
Specification
I am interested in an EA which uses a simple triple EMA for spread betting GBP to USD, although theoretically this could work on other currency pairs and commodities etc. I am very much a beginner and this would be a good place to start for me so that I can learn the MQL5 language. This should function in MT5.
The method I have in mind is as follows:
- Plot three exponential moving averages—a five-period EMA, a 20-period EMA, and 50-period EMA—on a 15-minute chart.
- Buy when the five-period EMA crosses from below to above the 20-period EMA, and the price, five, and 20-period EMAs are above the 50 EMA.
- For a sell trade, sell when the five-period EMA crosses from above to below the 20-period EMA, and both EMAs and the price are below the 50-period EMA.
- Place the initial stop-loss order of 10 pips from the entry price (but can be set by user).
- Place a profit target of 20 pips from the entry price (but can be set by user).
- The tick size is set to 0.25% of the funds available, with a minimum of £0.50 and a maximum of £2 (all of which can be set by user).
- Any open trades should close on a Friday evening so that nothing is left open over the weekend.
Thank you very much. I should hope that this is all the required information.
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