Yes every trader has to make this choiceBut here is the thing for me ....you essentially have to decide if you are an intra day trader (scalper), medium term trader or long term trader.
Let us use 34 lwma Ma as an example and say we are only trading the single line method. In most cases price would have crossed 34 Ma days even weeks ago on the longer t/frames so essentially as a medium term trader scalping against the trend on the longer t/frames for me would not be a safe bet. Yes pullbacks against the trend can be powerful and bag you a nice bit of pips but then you have to be at your computer and have your finger close to the close button.... so therefore I have increased the lookback minutes in order to get signals with the trend on the longer t/frames and included them in the currency strength test. If that was not done you would not get a signal in the direction of the trend but instead a fresh signal against the trend....I stand to be corrected but if you have included the 34 lwma on the 4 hour time frame in the currency strength test the ea would only pick up fresh signals if the lower time frames are moving above or below the 34 lwma on the smaller time frames but in the direction of the trend and essentially for me would be fresh signals...
This tool is designed with the intra day trader in mind - those who trade the NOW trend. Medium & long term trader can however adapt the tool to match their system by increasing the lookback time. The advantage to the intra day trader is the elimination of DD which the MT & LT trader will have to cope with. Therefore you need deep pocket to do that otherwise your trade(s) will be closed by the broker to avoid capital going negative and you may never have the opportunity to even see the trade turnaround except in a demo account and of course if your account is adequately capitalized.Correct me if I am wrong guys...I believe there is place for scalpers as well as medium term to long term traders with Mad.
On the MA filter, we don't need the MA filter on the main dashboard but since the dashboard and EA will be split into 2, the MA filter is more needed with the EA than with the dashboard, and this is in agreement with what Neocount was suggesting. I will discuss this with Rene later.
Yes this should workanother way we could look at it is to decrease the look back minutes to 240 and use a higher ma in the trade trigger parameters and even use 5 minutes as the trade trigger but in the direction of the trend with a higher Ma that would simulate the 34 Lwma on the 4 hour time frame for example....
You are very right but nobody knows when the trend will end or turn around. We don't know when a pullback becomes a reversal. This is why I trade the NOW trend, on the understanding and assurance that every movement starts on the LTF, before it cycles into the medium then long term. Just MHO :hi:As a medium term trader I am not a great person to follow market opening times and believe that if a trend is formed it will go in the trend direction no matter what time you have entered..
Shalom
