Quote:
Originally Posted by saintmo
net1o,
You have very ambitious plans.
If you "double down" on both wins and losses, how do you know when to reset?
In strong trends price often blows through support and resistance, especially on a daily basis. It might be good to give special attention to weekly or monthly S/R levels.
Any further thoughts to operating differently when strong trend versus ranging market is encountered? And what indicator would be used to determine the difference.
Best of luck to you. Based upon your prior work I have every confidence you will give this effort a good run. All we can do is keep trying things.
saintmo
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I'm thinking the EA will keep an internal win/loss count, if the win/loss count reaches a certain level the EA can choose to go in at double. Just an initial idea...still brainstorming.
Right now my thoughts on operating differently during strong trends versus ranging markets is to have a dynamic take profit. It may take profit of 3 during slow times and 8 during active times. This will not help avoid major trend shifts but it will probably lock in better positions during slow hours.
I'm also experimenting with creating some of my own indicators for this EA, possibly and EA on RSI or CCI, or maybe some new stuff I'll describe later. I've been keeping track of baba_masters indicator development because I think it will have some great value
My new indicators !
and I'm also trying some of waddah attar's indicators
Profile "waddahattar" - MQL4 Community
XPMA and Turbo_JRSX are also on my to-test list...other suggestions would be appreciated. Bascially I need aggressive stuff that can detect fast. I'm going to try having the EA look at smaller time frames as well.
Still thinking....appreciate any and all input.