I have been testing indicators for a long time and was wanting to know if it is possible to create an EA using 2 separate indicators that are complex.
I am talking about using the indicators
As you will see from downloading and loading into your metatrader; the indicators both paint blue for buy and red for sells but they use somewhat different components to deterimine when to buy and sell and they tend to repaint as most indicators do with one exception.
The exception is when both indicators show the same direction.
Because of this exception it lowers the whipsaw action that it frustrating for indicator followers and money loosers for the various EA out there.
Is it possible to create an EA using these two indicators????
The terms of the EA are pretty simple.
The EA would run watching both indicators until they have a match. (say Blue for uptrend) The EA at the close of the candlestick timeframe would then initiate a BUY order because both indicators show blue. This BUY would continue to remain open until both indicators show red indicating a downtrend and time to make a SELL.
At the candlestick close of the both indicators showing red the BUY order would be closed and a SELL order would be intiated. That's it.
Of course you would want the customary user customizations of Lot Size, Take Profit, Stop Loss, and being able to adjust the inputs of the properties of the indicators in the EA. Other than that I don't know of any other changes.
If any programmers could give this a look over it would be greatly appreciated and your feedback would be most welcome and helpful.
P.S. I also include the template that I use for the indicator it is called goldsupertrader.
Here is an example of what it looks like from my template.
Also, these indicators are best used in 30 min or greater timeframes. I recommend you not use them in 1min 5min or 15min.
They will repaint badly in the lower timeframes.
Last edited by evaluator; 09-15-2011 at 18:09.
However, if you want to play in the lower timeframes. May I suggest using the attached indicator to help with the repainting issues.
That is if you are have a higher tolerence for risk.
Use this indicator and when ALL 3 match color then initiate order in the direction the indicators show.
Screen should end up looking similair to this.
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