Give it a try to this new idea

**duit** · 04-02-2009 18:25

funyoo,

Refer to statement and Indicator, Color RSI. Been demo everywhere and this is the only statement that I can attach for proper view.

The idea is :

Condition, safe on 1 hr timeframe. Take profit 10-15 pips or any reasonable profit.

You need indicators
1) Color RSI, as attached, default, need line 25, 40,50,60 and 75
2) EMA 100.
3) MACD, standard setting 12 26 9.

BUY :
a) red line appears on RSI and candle open above 60 line
b) candle open and above 100 EMA line
c) MACD is above 0.00 level
if it meets the above 3 conditions , then open buy position.

SELL :
a) green line appears on RSI and candle open below 40 line
b) candle open and below 100 EMA line
c) MACD is below 0.00 level
if 3 conditions are met, then open sell position.

STOP Loss (auto close position)
a) for buy: candle close below 60 line
b) for sell: candle close above 40 line

I have demo and sometimes miss the boat, coz it takes sometime to wait for 1 hr signal as above. I hope funyoo can help and we all can share this EA. Hope to go live if results are excellent with EA.

Thank you

**bigpipn** · 04-02-2009 18:33

Post a template if you can. This makes a lot of sense. I'll definitely give it a look.

**funyoo** · 04-02-2009 21:06

Hi duit,

Here it is.

**duit** · 04-02-2009 23:05

funyoo,

thank you , will demo as many pairs as possible on my vps. hope this EA can be used with my live account. some donation to you later.

thank you again

**duit** · 04-03-2009 02:17

guys,

bigpipn....and others, change to RSI 4 using 1 hr chart. If market is volatile, you will get 3 trades a day. Use GBP/JPY coz this pair moves fast.

thanks

**bigpipn** · 04-03-2009 02:46

I'll try it on Euro-Yen.

**duit** · 04-03-2009 09:19

dear funyoo,

what does it mean by "TradeAsLongAs" ?

thank you.

**funyoo** · 04-03-2009 11:47

Originally Posted by duit

dear funyoo,

what does it mean by "TradeAsLongAs" ?

thank you.

Hi duit,

If TradeAsLongAs=false, then it will take only one order on the current bar, once the signal has been generated.

If TradeAsLongAs=true, then it will take a first order on the current bar, once the signal has been generated, when this order will have reached his TP, it will take a second order on the same bar, etc... As long as we are on the same bar and the last orders has been closed, it will enter new orders. It can be usefull when the price draws a bar of 100 pips.

**duit** · 04-05-2009 16:47

Dear funyoo,

I tried lower time frame and realise that it has better entry point and more opportunities. I did use on 15 min chart and if you wait for that color to appear (red and green) then it take sometimes till it confirms.

Amendment on entry point :

BUY : do not wait for red line to appear, but once a NEW candle emerges above 60 level, and the price MUST come from below 60 level, goes up crossing the line, price above EMA 100 and MACD above 0.00

SELL : do not wait for green line to appear, but once a NEW candle emerges below 40 level, and the price MUST come from above 40 level, goes down crossing the line, price below EMA 100 and MACD below 0.00

STOP LOSS : is it possible to adjust stop loss from EA input, something like StopLoss.. RSI 4.. Level 25 for Buy if I use 15 min chart to trade ? Same case for sell.

So that I can freely use/change SL on the EA input based on RSI level if I trade using different time frame with different pairs.

OR

if cannot be done, then just change for this new version
STOP Loss (auto close position)
a) for buy: candle close below 25 line
b) for sell: candle close above 75 line

The way I look, there will be loss trade also, but very very minimum.

Also, if trades triggered close to each other, say between 15 or 45 or 90 min lapse, let the first trade be there and take profit or hit stop loss. It is ok to have 3 or 4 trades open. Refer to attached chart on 1st and 2nd Apr.

I hope this will make money.

**duit** · 04-30-2009 02:33

funyoo,

Can I use for live account, or this EA is made only for demo ? I want to try for live account. Did demo, change setting, made some profit.

Thank you.

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Give it a try to this new idea

Thank you

EA

question

amendment : entry point and stop loss

only for demo account ?

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