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Thread: Reversal EA

  1. #1
    Junior Member
    Join Date
    Sep 2009

    Default Reversal EA

    Hello there,
    I would be most greatful if anyone could help design an EA based on a system I have been studying for a while now, and been having a good amount of success trading this strategy. It follows a Reversal Indicator. I have attached a photo so you can see how it works. Buy with the blue arrowat the open of the next bar, and sell at the red arrow at the open of the next bar.

    Basically at the moment the indicator works by alerting you when there are two consecutive up or down closes, where the close of the second bar is greater than the close of the first bar. It really indicates that the market is slowing down the trend that it is in, and a reversal is iminent. A s/l is placed 35 pips above/below the high/low of the reversal bar.

    At point 1 on attached picture, the blue arrow indicates that the low to close of current bar is greater than the low to close of the previous bar, so we buy on the open of the next bar - point 2 on the image. The reverse works for points 3 and 4.

    It doesnt work every time, but when it works it really works.


    Attached Images Attached Images Reversal EA-reversal2-gif 
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design, high, indicator, pips, strategy, system, time, trading, trend

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