how can make EA???
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help !!!
how can make EA???The Buy Setup – Entry, Stop Loss & Exit
Buy Entry Rules:Price should initially be touching the lower outer band, indicating that the market is oversold.
Price should head towards the middle line indicating a possible reversal.
The candle that crosses the middle line should strongly close above the middle line.
As soon as the candle closes strongly above the middle line, a buy entry could be initiated.
Stop Loss: The stop loss should be a few pips below the most recent swing low created by the oversold market.Exit: After rallying above the outer band, as soon as a candle closes back below the upper band, the trade should be closed.
The Sell Setup – Entry, Stop Loss & Exit
Sell Entry Rules:Price should initially be hovering near the upper band indicating that the market is overbought.
Price should reverse towards the middle line indicating a possible reversal.
The candle that crosses the middle line should strongly close below it.
As soon as a strong bearish candle closes below the middle line, a sell setup could be initiated.
Stop Loss: The stop loss should be a few pips above most recent swing high created by the overbought market.Exit: The target area should be the oversold Bollinger Band territory. After closing below the lower band for a few candles, as soon as a candle closes above the lower band, the trade should be closed.
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If you don't mind, I have two initial questions.
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Is the bollinger bands indicator the only one expected to use in this strategy?
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What do you mean by 'strong close above the middle line'? You will need to define it as accurately as possible because the EA will not be able to distinguish between a 'strong' and a 'weak' close.
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