MACD / RSI / ATR

MQL4 Experts

Specification

uTrade Size is determined by Monthly ATR - Average True Range, as in the following example:-

uCurrent Monthly ATR    -   600 pips (0.06)
uBuffer (25%)  -  150 pips
uTotal  -  750 pips
uCurrent Capital  -  £10,000
uMax Risk -  Capital / Total ATR   -  £13.33
uConvert into trade size at current fx rate ($1.41)  -  13.33*1.41*10000  = 188,000
uRounddown to nearest 25,000  -  175,000
u
uThe buffer, and rounding factor should be variable inputs


uTrades are opened only during Asia and Europe trading hours (from 11pm to 12pm London time). Trades can however be closed during the US session.

uThe prime signal / determinants of direction is the MACD (12,26,9)and RSI (14, 0.7, 0.3) on the 15 min chart.

uOpen trade when averages cross in direction signalled by the MACD.

uClose trade depends upon RSI and MACD.

uClose as soon as either RSI reverts to 50 or MACD averages cross over again.

uHowever do not close if MACD signals closing but RSI is showing overbought / oversold – 70 / 30. Otherwise close trade when RSI reverts to 65 / 35.

u

uVariable inputs during back-testing – Trading hours, length of time chart (5min, 10min, 15 min,…… day etc) RSI / MACD settings.


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