Metropolis (Just an idea) - MT4/MT5 Resources
Hello everyone,
I wanted to share an idea with you to get some opinions and maybe someone has tried it and can help me.
I'd like to use this as a template and EA (of course I can), but right now the project is just an idea. Indicators to use initially will be RSI, Stochastics, ADX, MACD and later I think I will use Fibonacci retracements and Fibonacci extensions as well as some trendline rules. Now I want to try it on 1 hour and 4 hour charts.
1. The idea of the long position template is as follows (all indicators use default settings):
1.RSI
*** When RSI is above 50 and below 70 (to avoid entering a pullback)
*** When each of the first 2 changes in RSI is lower than the next. I mean the RSI is something like 50.10, 50.60, 51,20.
2. Stochastic indicator
*** When Stochastic (mainly) is above 30 and below 70 (again to avoid possible pullbacks from extreme levels)
*** When the first 2 transitions of the stochastic indicator are both lower than the next transition. I mean, stochastics are like 41.40, 44,50, 48,20.
*** When Stochastic (Main) is greater than Stochastic (Signal)
3.ADX
*** When ADX is above 20
*** When DI+ is higher than DI-
4.MACD
*** When both MACD(Main) and MACD(Signal) are above 0.00
2. The following is the idea of the short position template (all indicators use default settings). This is the exact opposite of the long-order strategy:
1.RSI
*** When RSI is below 50 and above 30 (to avoid entering a pullback)
*** When each of the first 2 changes in RSI is greater than the next change. I mean the RSI is something like 40.10, 39.60, 371.0.
2. Stochastic indicator
*** When Stochastic (mainly) is above 30 and below 70 (again to avoid possible pullbacks from extreme levels)
*** When the first 2 changes of the stochastic indicator are both larger than the next change. I mean, stochastics are like 66.40, 64,50, 58,20.
*** When Stochastic (Main) is below Stochastic (Signal)
3.ADX
*** When ADX is above 20
*** When DI- is higher than DI+
4.MACD
*** When both MACD(Main) and MACD(Signal) are below 0.00
Any comments would be very helpful. Happy transaction.
I wanted to share an idea with you to get some opinions and maybe someone has tried it and can help me.
I'd like to use this as a template and EA (of course I can), but right now the project is just an idea. Indicators to use initially will be RSI, Stochastics, ADX, MACD and later I think I will use Fibonacci retracements and Fibonacci extensions as well as some trendline rules. Now I want to try it on 1 hour and 4 hour charts.
1. The idea of the long position template is as follows (all indicators use default settings):
1.RSI
*** When RSI is above 50 and below 70 (to avoid entering a pullback)
*** When each of the first 2 changes in RSI is lower than the next. I mean the RSI is something like 50.10, 50.60, 51,20.
2. Stochastic indicator
*** When Stochastic (mainly) is above 30 and below 70 (again to avoid possible pullbacks from extreme levels)
*** When the first 2 transitions of the stochastic indicator are both lower than the next transition. I mean, stochastics are like 41.40, 44,50, 48,20.
*** When Stochastic (Main) is greater than Stochastic (Signal)
3.ADX
*** When ADX is above 20
*** When DI+ is higher than DI-
4.MACD
*** When both MACD(Main) and MACD(Signal) are above 0.00
2. The following is the idea of the short position template (all indicators use default settings). This is the exact opposite of the long-order strategy:
1.RSI
*** When RSI is below 50 and above 30 (to avoid entering a pullback)
*** When each of the first 2 changes in RSI is greater than the next change. I mean the RSI is something like 40.10, 39.60, 371.0.
2. Stochastic indicator
*** When Stochastic (mainly) is above 30 and below 70 (again to avoid possible pullbacks from extreme levels)
*** When the first 2 changes of the stochastic indicator are both larger than the next change. I mean, stochastics are like 66.40, 64,50, 58,20.
*** When Stochastic (Main) is below Stochastic (Signal)
3.ADX
*** When ADX is above 20
*** When DI- is higher than DI+
4.MACD
*** When both MACD(Main) and MACD(Signal) are below 0.00
Any comments would be very helpful. Happy transaction.
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