Not sure why it’s so tiny… I hope you can see it properly.
(Don’t pay attention to the PSAR, MACD and the green up and red down arrows, these are just for me to spot trends and reversals and have nothing to do with the ea)
So as i said the system is based on 3 EMA’s. 1 hour timeframe on high volatility currency pairs. The EMA’s are set as follows:
Fast EMA: 10
Medium EMA: 25
Slow EMA: 50
– How it works now:
Buy when fast ema above medium ema, AND when medium ema above slow ema. (Good)
Sell when fast below medium AND medium below slow. (good)
Close orders when fast changes direction and goes through both medium ema AND slow ema. (bad)
There is no need for an actual crossover to happen before the ea starts opening orders. All it looks at is that fast is above/below medium and medium is above/below slow. This is clear when you first execute the ea on a currency pair. It will instantly start an order, even though there is no crossover in place. (Bad)
Same goes for trying to close orders in losing positions. It will just instantly open a new position in the same direction because it’s parameters for closing the order haven’t changed yet. This is the reason why stop losses are useless now. When you close an order manually, it should stop trying to open a new one until there is a crossover.
There is no built-in stop loss and/or take profit. I’m using an a st/tp ea on another chart at the moment. (Bad)
– How it should work:
Buy when fast ema above medium ema, AND when medium ema above slow ema.
Sell when fast below medium AND medium below slow.
Close orders when fast changes direction and goes through medium ema. It doesn’t have to go through slow ema to close the order.
Only open orders on actual crossovers.
Built-in stop loss/ take profit.
Any other creative ideas from your part would be very much obliged.