1 EMA,
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Greetings,
I am having trouble creating this strategy. I want the expert advisor to operate under all currencies on the watch list, and all of which are operating under a 4 hour time chart. I want one Exponential moving average (200 EMA). I want to say that when price closes above the 200 EMA, then you buy, taking profit of 100 pips. If prices closes below the 200 EMA, then you sell, taking profit of 100 pips. However, I am having a difficulty if arranging the stop-loss. See, I want my stop loss to say that, in case I didn't take profit of 100 pips, and the price happens to close across the 200 EMA in the other direction, then I want to close the previous position, and open another one, with the same taking profit rules and the stop loss rules. Any ideas on how do I do that; more specifically the stop-loss rule.
Your earliest response is much appreciated.
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@ramimoujaes Isn't this the same project you were asking foor help in your other thread? If so, please don't duplicate threads.
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The previous one is about 3 moving averages crossing over. This is about price crossing one indicator (200 EMA).
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In all honesty, I would like to add upon my question. How do I create an expert advisor, where if price crosses the 200 EMA, it will open the position, and then it will close the position when it crosses the 200 EMA downward. For instance, if the price crosses the 200 EMA going upward then, immediately open a buy position, and it will close this position when the price crosses the 200 EMA going downwards.
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@ramimoujaes I strongly recommend you to read this crossing info:
https://fxdreema.com/instructions/builder/crossover
Then you can create your first project, test it in your MT4 and then share it here for any additional help you need.
