This Amazing Crossover System EA is still in Beta.
I need people to test it out on their demo accounts. Post your trading result on myfxbook.com so others can verify.
About this EA:
Buy entry:
The EA automatically open a buy order if 5 days EMA cross above 10 days EMA. Also, it checks to see if 10 days RSI is above 50.
Sell entry:
The EA automatically open a sell order if 5 days EMA cross below the 10 days EMA. It also checks to see if RSI is below 50.
Stop loss: 50 pips.
Take profit: 100 pips.
(You can make changes to these settings)
So glad you made this, man! I think a lot of people on ForexPhantoms thread were wanting this to be made into an EA. I really appreciate when people put in the work to actually do this. Thank you so much!
I’ll be watching this closely. Hopefully this turns out for the best!
Well, that just means the idea of 5 ema cross over 10 ema is not profitable.
The settings can be customize by users that know how to read the codes. After you figure out the best ema crossover settings, you may share them here with others.
Good evening Cryptocurrency. I downloaded and installed the AmazingCrossOverEA.zip into my indicator files and it will not load. What should I do to fix the problem?
On the right track.
5 simple moving average…daily, hourly…take your pick…it will introduce you to the movement of your particular instrument of trading. These are the ebbs and flows of the market. I am still trading demo, but the more time I invest, the more I see how the market moves as it moves…period. PERIOD. No forecast…it just moves…PERIOD.
Crossover systems are never profitable, because oftentimes the crossover means a simple pullback instead of a 100% trend reversal. You should increase the MA periods and use them only as an indication of trend direction. Then buy low / sell high within the trend direction (use smaller period RSI or trendlines). Also, true reversals always start with a touch (one or two) of a major resistance, after which price usually formes a head & shoulders pattern, and again you do the same here, buy low / sell high in the direction of the reversal. This crossover will usually be a winner, but again as you can see, it was price that determined a real vs fake crossover. So stop looking for automatic trading, EA’s are stupid because they are clueless about resistance and patterns, which require a human eye.
I had high hopes after reading the entire main thread.