Expert Advisor for MT4 using MACD and TRIX
Note to developers:
PLEASE READ THE ATTACHED DOCUMENT FULLY TO ENSURE THAT YOU UNDERSTAND THE WHOLE BRIEF.
PLEASE RESPOND ONLY IF YOU ARE CERTAIN THAT YOU CAN COMPLETE THE BRIEF.
PLEASE ALSO LOOK AT THE ACCOMPANYING SCREEN SHOTS WHICH ILLUSTRATE THE CONCEPT.
Rules
Values marked [xx] are variables set by the user in EA settings.
Indicators used:
MACD
Settings:
Fast EMA [13]
Slow EMA [21]
SMA [1]
Trix
Trix period [13]
Signal period [3]
Rules
Please see the attached screenshots which explain clearly where the entry signals are.
Establishing the Trend
The MACD at a higher time frame typically [H4] is used to establish the trend.
An UP trend is in place when the MACD histograms cross above zero.
An DOWN trend is in place when the MACD histograms cross below zero.
BUY trades are only entered whilst the trend established at the higher time frame is UP.
SELL trades are only entered while the trend established at the higher time frame is DOWN.
Entry signal
Enter a BUY trade while the trend established at the higher time frame is UP, and
The Trix line crosses up through its signal line, irrespective of its value.
Enter a SELL trade while the trend established at the higher time frame is DOWN, and
The Trix line crosses down through its signal line, irrespective of its value.
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