I would like to use the indicator attached to create an EA. The EA should include options for trade management:
We only take shorts when 50<200 EMA and longs when 50>200EMA and a Yellow Circle is triggered as close of candle. Its important to wait for candle close.
Rules to Enter Short:
Yellow Circle occurs as 50 EMA < 200 EMA(This is a function already in the EA to filter based on EMA's)
Rules to Enter Long
Yellow Circle occurs as 50 EMA > 200 EMA(This is a function already in the EA to filter based on EMA's)
Stoploss Options:
Above recent high
number of Pips
ATR multiplier(For eg. 1.5x ATR)
Take Profit Options:
Fixed Ratio (manually added by me)
ATR based(For eg. 2x ATR)
Fixed Pips
Break Even Options:
1:1 Ratio
No Breakeven
Confluence Options:
ON/OFF
Current Timeframe
Confluence Timeframe
If the Timeframe used for Running the trade is 15min, then the red dots have to be on 30 mins and yellow at 15min will be the trigger trade.
Another eg. is When 4H is giving red dots and 1H gives the Yellow ball, the trade can be triggered.
So the higher timeframe has to have the red dots when Confluence is turned on.
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