Triggerlines on the 4H chart. Buy if the triggerline is blue, sell if the triggerline is red.
Details:
EA attached to 1H chart, so at every hour the entrance/exit criteria is checked. If there is a new bar at the 4H chart, the most recent triggerline value won't be accurrate, so in that case ( where Hour() % 4 == 0 ), use a shift of 1 on the 4H triggerline instead of 0. Enhancements are to double your position if the triggerline agrees with the current trend.
The example above would be 4H/1H settings. This method should work well on 4H/15M, 1D/4H and other combinations.
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The above is all great and dandy, but I have a question for anyone who has experience with the triggerline indicator though. I've programmed a handful of EAs already and understand how indicators work generally but I can't seem to understand how the triggerline indicator is plotting it's red vs. blue line. It seems as if blue is plotted, and then red is drawn overtop it? I couldn't figure out how the indicator did it. My tests for my EA only yields the changes from red to blue, and not blue to red. Could someone enlighten me? The indicator is attached.
Also, I think I read somewhere that the triggerline is based on a modified LSMA. Does anyone know a reference where I can get detailed information on the formula that's supposed to be used? I like to know what calculations my indicators are doing on the market data... and as a last resort I can just make my own custom triggerline indicator that's better documented and clearer to use.
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Monday, October 29, 2007
Triggerlines
Posted by Forex at 7:20 AM
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