Quote:
Originally Posted by davidke20
If you use indicator's signal, you cant use the pipstep(no matter you wanted to make it dynamic or what). Vice versa if you use the PipStep, when is the next progression then? The signal or the pipstep? I'm having a hard time to do this part too, if you wanted both, I'll be having trouble now because I dont know how to make it work, may be some other may help.
Regards
David
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My idea is to use indicator signal for entry and to continually reference that indicator signal while in position to make sure we don't become victim of a hard run in the opposite directoin. If that indicator reaches a certain value in the opposite direction of our position we use that to close and cut losses (this is our fail safe to avoid those big killings from 10points3). We have to give it some room to work so it cannot be a simple "If the indicator is up we keep adding, if its down we close and switch...there has to be some padding to give it room to work"
By doing this we can still use the pipstep because if we enter a long according to our indicator and it turns short for a bit, we will add to our long position according to the pipstep, we wouldn't want to close and go short immediately. We have to establish a value in the short direction far enough away to give our EA room to work, but close enough to avoid the big dives.
I'm working on the code right now and I'll post it for you to take a look at soon. I think your input and anyone else who that wants to contribute will be extremely valuable.
Will be posting again soon.
Edit: Here is a small update to the code to create a better quality entry (see attached), although there is still no protection in this code. It picks direction at the beginning.