Hello fellow forum members!
Time for a new EA based on slipshod's SS_SupportResistance_v04b indi: http://www.stevehopwoodforex.com/phpBB3 ... d&start=30
Would be grateful if you coding gurus can turn this idea into working code
The Concept
1. Buy from support
-> Where support (according to the indi) is
a) Verified support where test count is >= 2
b) Turncoat support
2. Sell from resistance
-> Where resistance (according to the indi) is
a) Verified resistance where test count is >= 2
b) Turncoat resistance
The Rules
SELL: when price gets to the lower border of the resistance zone.
SL: at the upper border of the resistance zone
TP: at the upper border of the support zone below
BUY: when price gets to the upper border of the support zone.
SL: at the lower border of the support zone
TP: at the lower border of the resistance zone above
Trade management:
-> Via MPTM: trail by 2 candlesticks
-> Trade exit: either by SL or by TP or by candlestick trail
Money management:
-> Option on EA to manually set lotsize or automatic lot calculation
-> NB: only 1 trade per opportunity
Additional Notes
-> MPTM candlestick trail settings:
TSL=Trailing stop loss settings
TrailingStop=1
UseStandardTrail=0
TrailingStopPips=10
UseCandlestickTrail=1
CandlestickTrailTimeFrame=30
CandleShift=2
-> The candlestick trail is not set in stone, 'tis one of the params to be fine-tuned during testing
Chart example
Indi modified settings: (everything else OOTB)
-> Timeframe: 60
-> zone.show.weak: false
-> zone.fuzzfactor: 0.5
Operating timeframe: M30
Cheers!