by cryptoconvert » Mon Dec 09, 2019 2:19 am
Seems my first reply yesterday didn't post. I think I clicked Save and not Submit!
There are 2 MA's in the existing code. An upcross of MA1(usually the faster one) over MA2 (usually the slower one) is a Long signal, a downcross is a Short. I propose to add a pre-conditions:
- A third MA of a selectable timeframe, to act as Support & Resistance
- For a long, the 2 original MA's have to be above the third MA, & the Close price as well
- For a short, the 2 original MA's have to be below the third MA, & the Close price as well
- Note that a variation could be that MA1 could be the slower one, and MA2 the faster one, which could help to get a slightly better entry point, depending on difference in MA's.
Longs and shorts signals then occur as per the original design, as long as the pre-conditions are met.
Potential variation/additional functionality:
- Introduce a fourth MA, so that there can be independent Long and a Short pre-conditions
- Have entirely independent MA logic for Long and Short - for example an upcross for a Long but also for a Short, MA1 for Longs is different that MA1 for Shorts, different timeframes, etc. This will be super, but a whole lot more than I asked for originally!
Safety:
- Please implement a maximum number of orders, as many crosses can happen (can't recall if it exists already)
I have used this successfully in crypto, accumulating position and selling at average gain. Not sure if it can work the same in Forex or CFD's, but I'm keen to try!
Thank you.