Thread: 123 pattern ZigZag Stoch EA

Hi,

is there a chance of creating an expert advisor that uses the following indicators
zizag and stochastic.

chart period from 5mins to 4hrs.

expert advisor should enter trade when zizag complets the 123 pattern.
also stochastics will not be in its extremes (that is when entering a buy trade stochastic will not have overbought.the same applies for sell)

expert advisor should take profit when stochastic has reached 80 for buy trend and 20 for oversold

also u can put a trailing stop so that it wont lose the pips it has gather should incase it doesnt get to its extreme before retracing( that is should stochastic not get to its extremes).

let me know if its workable.

thanks

helloo funyoo,

i got your reply.thnx for replying. i just wish it was workable. you know that strategy is a great one. are there any sugestion of such resemblance or technique that could be made.
thnx .

HI,
Kelvin has a great idea-the same that I have but a bit simpler.Here is the reason-zig zag constantly changes the max and min points based on the chart.Therefore you don't know if the max showed is indeed the absolute max - the same for the min.Instead just the stochastic will work fine.The fast K will always have a small delay in showing the max but is only a few pips.It should open the orders in 2 conditions:
1.When K (fast) reaches a certain level-based on your desire-above 80 is ok.If you want 95 the profit will be higher but it may not reach 95.If it reaches that level(above) 80-85-90 it should open a sell order which should be closed when it reaches a very low level-20 or under when it should open a buy order and so forth.
2.It should open a sell order when K intersects D and K was previously higher than D and it should close the order when they meet again.At that point it should open a buy position again until they cross again.I manually checked different time frames in different pairs it it works every single time.A MM also (if posible) is welcomed.If anyone can help with such a code or a similar one it will be great.Thank you