When time permits, could you code an EA based on this custom indy.
. Please use your usual EA options.
New EA based on the !xMeter - Forex-TSD
Currency Strength Meter @ Forex Factory
Currency Strength Meter Download | Currency Strength Meter Video Tutorial & Download
Best pair to trade :
SELL = EUR USD = 2.2 X 7.2
OR we see usd = strong. (> 7 point)
this combination will get good result
//HOW TO READ THE !xMETER: (This tool based on Tom Yeomans's currency meter with modifications.)
// 1. Find minimum and maximum value from each currency.
// 2. Suppose GBP has 7.4 and USD has 1.6. It tells us that GBP is stronger than USD.
// That means we should consider take BUY order at GBPUSD instead of SHORT order.
// 1. Check if current time is at PauseTrading otherwise trading is allowed.
// 2. Check EA properties if currency pair is allowed to be traded.
// 3. Enter a trade if the xMeter difference between the Major and Minor currencies is greater than TradeTrigger.
// 4. A trade may be closed 5 ways.
// - xMeter CloseTrigger (indicating reversal in short TF).
// - Breakeven Stop Loss.
// - Dynamic Trailing Stop.
// - Dynamic Take Profit.
// - Breakeven in Recovery Mode
// 5. If the currency's trades never reach Breakeven then they will be closed when the xMeter difference
// between currencies is less than or equal to CloseTrigger using only last 1/3 of xMeter lookback period.
// 6. If the trade become profitable then it will place a stop at Breakeven and trail with a DynamicStop.
// 7. If the difference between currencies falls to RecoverTrigger then another trade will be opened in that
// currency in the same direction and will open another if the currency continues to go against the trades.
// The trades will be closed when they average breakeven.