Thanks for all the work you do for us traders. I have a strategy that I've been doing manually, and was wondering if it could be automated:
* Enter when price touches, or comes within X pips of a MA.
* Enter in the Direction of the MA slope, IF...
* Direction is confirmed by a second MA slope.
* Stops and Limits set in Pips, or not at all (for Manual exits).
User Variables:
* Type and length of MA's for Signal and Confirmation.
* Proximity of Price to MA for signal, 0 to X number of pips.
The trade must execute immediately when the criteria is met, and not wait until the candle has closed.
The trade signal should appear only upon the 1st occurance during the current candle. This prevents generating signals on rapid, multiple touches if the price bounces around the MA. It will generate a maximum of 1 trade per candle.
This Strategy takes advantage of the tendency of prices to bounce off of their short term (3 to 5 period) MA's as they trend up or down.
Many thanks for your consideration.