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The EA is based on bar spikes,therefore we must clearly define what I mean,for my purposes,as spike;let’s assume the 2 cases of bullish and bearish bar:
A)Bullish bar(close>open):
Upper spike (IN ABSOLUTE VALUE)=close – high
Lower spike(IN ABSOLUTE VALUE)=open-low
B)Bearish bar(close<open):
Upper spike (IN ABSOLUTE VALUE)=open – high
Lower spike(IN ABSOLUTE VALUE)=close-low
Now,let’s take into consideration the 2 ndparameter to trigger a trade:
- The average bar price=(High-low)/2
We are now ready to define entry rules:
-GO LONG IF:
A)current bar average price( at bar close)is higher than previous bar average price of x pips,and
B)upper spike is higher than y pips
-GO SHORT IF:
A)current bar average price(at bar close)is lower than previous bar average price of x pips,and
B)lower spike is higher than y pips
PLEASE REFER TO THE ATTACHED WORD FILE FOR EXHAUSTIVE INSTRUCTIONS.
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