Hi, Possible ea for programming. I am currently testing this with a modded version of reversi.
Currency: EU
Time Period: D1
Indicator: MA, 2, Simple, Open
Recovery: 1,1,3,6,6,6,6,6
Sell Rules: If Open is above MA, Sell. Close when next day's candle open below MA. Opposite for buy trade.
Trades are opened and closed at the open of the D1 candle.
If previous candle open and close is within 10 pips, the candle is discarded, and we wait for a candle to have open/close range greater than 10 pips, than trade at next candle open. Same applies for recovery trades. We don't go back in history looking for candles like Reversi does.
Recovery: L2,3,4,5,6,7 take place at the open of each new candle. Recovery trades are closed when a new D1 candle opens on the opposite side of MA. There is no BE until we reach L4. At L4 we aim for BE or we simply close all trades if new candle opens on opposite side of MA yet BE is not fully achieved.
Hope this made sense. Put the indicator on a D1 EU chart and have a look. Looks pretty good to me
The thing I like about this strategy is it can handle a trend very well and we have an exit strategy for recovery trades.