250 EMA chasing (couldn't think of a name)
I don't know if I need an EA or an indicator, maybe both.
I've been checking it manually and I thought I might find something, an EA or an indicator that would speed it up.
You can see for yourself, I've tested it on the cable. Place the Exponential Moving Average indicator with a period of 62 on the hourly chart. If the difference between the EMA value and the current price exceeds 250, you have a signal to open a position, buy if the EMA value is less than the current price, sell if it is less than the current price.
Exit when two values are equal, such as when two lines intersect. I also think it's a good idea to do a little TP as you progress.
It's not the Holy Grail and requires some manual intervention, but I think it's profitable.
All we need now is for one of you super programmers to put together an EA that we can backtest to see where we are and then forward test it.
I have attached a chart for your viewing pleasure
I've been checking it manually and I thought I might find something, an EA or an indicator that would speed it up.
You can see for yourself, I've tested it on the cable. Place the Exponential Moving Average indicator with a period of 62 on the hourly chart. If the difference between the EMA value and the current price exceeds 250, you have a signal to open a position, buy if the EMA value is less than the current price, sell if it is less than the current price.
Exit when two values are equal, such as when two lines intersect. I also think it's a good idea to do a little TP as you progress.
It's not the Holy Grail and requires some manual intervention, but I think it's profitable.
All we need now is for one of you super programmers to put together an EA that we can backtest to see where we are and then forward test it.
I have attached a chart for your viewing pleasure






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