I was searching for an EA works on XAUUSD and i came up with this idea.
I don't have any knowledge of MQL coding but i tried to create the EA by using Molanis Startegy Builder DEMO.
I hope a coder can take a look at it and find a better way on entry and exit rules,
It works on XAUUSD:
It is based on the TMA+CG indicator.
On M15 TF when each bar closes above TMA+CG's top indicator (deviation set to 2.5), the EA gives a SELL order. And if bars close below TMA+CG's low indicator, it gives a buy order.
Then the EA checks the H1 timeframe of the XAUUSD and closes a SELL order if a bar closes below TMA+CG's low indicator (BUT THIS TIME DEVIATION SET TO 2.0). Also closes the BUy orders if it hits the top indicator.
You can understand better when you look at the below screenshots:
Here is the EA that i wrote with Molanis Strategy Builder:
DOWNLOAD THE EA
Here is the XAUUSD preset:
WHEN TESTING THE STRATEGY the best way to avoid a blown account is to start with 10.000 and set the lot size to 0.01, Hedge to TRUE.
DOWNLOAD THE PRESET for XAUUSD
Here is the indicator:
You should place it under experts/indicators
DOWNLOAD THE TMA+CG INDICATOR
And here is the Statement of my test:
DOWNLOAD THE STATEMENT
Does anyone have any better idea for entry and exit strategy?