This expert advisor is based on the concept that market does not move always in one direction. Even when the market is trending in one direction at some points it pullback. Usually the pullback is due to strong support or resistance levels or the dominant traders decided to take some profit, which usually force the market to move in the opposite direction for some time. The EA makes use of this reverse move. As expected, the EA performs better when it is trading in trend direction.
Post's attachments
MLTrendE.mq4 10.18 kb, 22 downloads since 2014-09-29
This idea behind the ea is great. Can you share the backtesting results?
Also, which pairs and which timeframes are best with this ea?
+ How to determine when is trending time / trending market conditions? THIS IS BIGGEST PROBLEM TO MAKE THIS EA TRADE PROFITABLE.
+ Do you think that this ea will need any more filter indicators to make it even better? Please tell, and I will ask my close friend to do it for us to use.
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