Hello Again everyone,
If you're like me, there will be many times that you will look at a chart set up and say,,, "oh, I better get in that trade right away!". Well, now you can click away and get into all those trades immediately without having to worry about which ea suits the price environment. After you place that trade, here are three types of exit only experts you can then place on the chart to ride the trade to the end of that trend. It exits, but does not enter again. Thats' up to you to assess after. Most fo the time I do not want my ea to enter the opposite (or the same) direction again, because I want to assess the currency direction as well as chart patterns.
Here is how they are structured:
Linear Weighted Moving Average 13 (closed) -- this is considered one of the best moving averages to show you which way price is moving at any given moment for the immediate trend.
ADX DI lines -- PLUS DI is crossed up means price is likely to move or keep on moving up. MINUS DI is crossed up means price is likely to move or keep on moving down. ADX signals are based on price movements within a candle comparred to the previous candle, not whether price is moving up or down on the chart. This is why you have to pair ADX signals with a trend indicator such as a moving average. if both confirm the direction, the analysis is on more solid ground.
MACD and Signal line -- Macd line crossing it's signal line means the immediately previous trend is likely at (or near) an end.
All three of these indicators give excellent signals for the end of a trend. The problem is that in various price environments, a particular one will trigger sooner than the other 2. So I have devised a clever way to beat the market at its own game:
EXIT QUICK -- This one guarantees you a very early exit without the risk of price reversing at all. It closes the trade when any one of the above conditions exist:
Attachment:
EXIT QUICK (1 OF 3).mol [14.27 KiB]
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EXIT STRONG -- If you feel like you are in a stronger trend and you don't want the risk of being kicked out halfway up then this is the exit expert for you: When any two conditions exit, the trade will be closed:
Attachment:
EXIT STRONG (2 of 3).mol [24.81 KiB]
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EXIT COMPLETE -- This one is when you feel very confident about price going your way... or maybe just plain greedy.... and you want to stay in until the trend is definately completely exhausted: When ALL THREE conditions exit, the trade will be closed:
Attachment:
EXIT COMPLETE ( 3 of 3 ).mol [14.2 KiB]
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Go get those trends!!