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This EA will utilize the Double Exponential Moving Average, the Simple Moving Average, and the Average True Range Indicators. The timeframe will be H4. MT4 Platform.
Open a long position
1. The 20 period Double Exponential Moving Average will cross over the 20 period Simple Moving Average.
2. The angle of the DEMA and SMA lines should not oppose each other at cross. See pictures
3. The candle at the cross will be a green/bullish candle.
4. The price at the cross will be above the DEMA.
Open a short position
1. The 20 period Double Exponential Moving Average will cross under the 20 period Simple Moving Average.
2. The angle of the DEMA and SMA lines should not oppose each other at cross. See pictures
3. The candle at the cross will be a red/bearish candle.
4. The price at the cross will be below the DEMA.
Once the trade is opened, a Stop Loss will be set for 1.5x the Average True Range.
Take Profit 1 target will be 1x the Average True Range and 50% of the open position will be closed.
Once Take Profit 1 is hit, Stop Loss will be moved to entry point/breakeven, and a Trailing Stop of 1.5x the Average True Range will be set.
Trades will automatically be closed, regardless of the Stop Loss, if the DEMA crosses the SMA opposite of the trade direction. Ex: The DEMA crosses below the SMA in a long position.
All input values will be adjustable. (ability to change DEMA value from 20 to 30, etc) Stop loss and take profit values should be adjustable. Position size should be adjustable in either lot size or percent of account value.
Trade signals will only be given at the end of a bar, not intra-bar.
Only 1 trade open at a time per pair.
