Currently I have a profitable trading strategy:
It uses a pivot indicator and trades when it hits the red line and closes above for BUY trades and when it closes below the red line it opens SELL trades. Only 1 trade can ever be open at one time. I then use a stop loss of 930 points on XAUUSD which equates to 9.30USD. It has a customisable feature called pipfar which determines how far away from the red pivot line the EA has to be in order to be allowed to place a trade.
Use the settings on a 5000USD account:
87 pivot input
930 stop loss
100 pip far
Now that I have described the current EA. I will describe what features need adding.
I think that if we add 2 moving averages for example 100 simple MA and 50 simple MA when the 50 ma is above the 100 ma and EA opens a buy trade then it OPENS BUY trade.
if it was trying to sell this would not be allowed and should not be placed as the moving averages are against the trend.
When the 50 ma is below the 100 ma and EA opens a sell trade then it OPENS SELL trade.
if it was trying to buy this would not be allowed and should not be placed as the moving averages are against the trend.
The final rule is to never trade if the an open trade price is between the 2 moving averages.
If you have questions I will answer asap.
Looking to get this working asap. Any suggestions as to how the system could be improved will result in me awarding the project to you.