Support and Resistance Trader - MetaTrader 5 Expert | MT5 EA Download - MetaTrader 5 Resources
The Expert Advisor scans the past 500 closing price bars and looks for a common closing area as an entry point. It then uses a simple crossover of three moving averages of different lengths as a signal of trend development. Once it observes a trend development based on direction, it looks for the nearest resistance line and buys or sells when the resistance line approaches 0.005. The strength of the resistance is defined by the input: resistance=. This refers to the minimum number of times a bar closed at the same price level over the past 500 bars. I found that the best number for EURUSD is 15. This Expert Advisor has been trained for EURUSD, some features require extensive changes to train for other currency pairs.
Attachment download
📎 technical_trader.mq5 (14.17 KB)
Source: MQL5 #22304
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