counter trend strategy reset feature
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Hi,
I have what I believe to be a simple (newbie) question but can’t seem to work out the solution myself.I have created a very simple EA based on fading extreme RSI readings.
I am trying to create a reset feature (to stop repeated losses in very strong price movements) where after a loss, the EA will stop trading until the value of RSI returns to value 50.The attachment shows my latest (failed) attempt to do this.
Any help would be appreciated.
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RSI reset.jpg -
Maybe I don't understand what is the problem exactly, but I can see that you have two "Condition" blocks connected at the end, and they don't have a chance to work. In other words, blocks 4 and 7 are there for nothing.
There was some other EA builder (don't remember which of them) where blocks are connected in this way - actions first, conditions next, but in fxDreema the first to connect is the condition, and then action.
So, when you have Condition and it is true - it will execute next blocks connected to it. Not previous.
Maybe you should connect those conditions (4 and 7) after the other conditions, I don't know the strategy, but in any case yellow blocks should be above the green/red ones
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Theras2000, I guess that one attached works as you like to have it ?
Just one sell example....different ways to achieve this, so this example just uses variables for go or "not go" and stops if a trade encounters SL until RSI gets below 50
See the "On Trade" Events
I guess this should work, test it ^^
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RSI_SellExample.xml -
Ok, thanks for that fxdreema.
ezzakt, I couldn't download your attachment for some reason. But no problem
instead of the reset feature I am now going to try and do a grid based system.
