Buying/Selling X Pips above Moving Average
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Dear fxDreema-Team and Community,
I just found out about this site and it is truly awesome. Whoever is behind this project is a genius!!!!
Trading has been a passion for me. I started 10 years ago (survived!) and learned a lot in the process.I am working on a profitable Breakout-Strategy (traded manually). Every pair has a certain "breathing rhythm" (moves x pips away from the Open - the average range will change over the years and during event - but this is "genetically coded" behavior).
In order to catch some piece of the average range, I need to Buy or Sell at a certain threshold.
How can I define a line that is 20, 50, 100 Pips ABOVE or UNDER a Simple Moving Average with a Period of 1 based on the previous OPEN price?
In Metatrader I accomplish this with Levels (Second Tab on the Indicator Properties Window). This is how I trade manually. It is a very easy, nice and price-based level indicator. It gives you a good visual idea about Resistance points, Take-Profit and Stop-Loss levels.
Thank you for your time and kind answers. Wish you all good luck and lots of Profits!
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I have never seen these levels in MQL4, or I am missing something. But let's say you are using Condition and you have Moving Average selected. There is Adjust field where you can write something like +0.0020 or +20pips
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I DIDNT UNDERSTAND THE ANSWER
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In MQL4 there is a function to get the value of Moving Average, here it is - https://docs.mql4.com/indicators/ima But in this function you can't set any Levels and I don't know other function that can.
There is a function that is called SetLevelValue(), but it is used in custom indicators, not experts - https://docs.mql4.com/customind/setlevelvalue
