Creating EA Help!: Trend Continuation with Currency strength, moving avg, and fib pullback

[Sauce]

Hi,

I'm trying to create an EA alert system for currency pairs. It is based off Adam Khoo's trend continuation - pullback to EMA/Fibonnaci support level.

Here is the criteria:

BUY SETUPS

1. 1hr chart = 18EMA > 50EMA > 200EMA
2. 15m chart = 18EMA > 50EMA > 200EMA
   3A) 15m chart = Price is between 15EMA and 21EMA (this is for a 18EMA pullback)
   3B) 15m chart = Price is between 40EMA and 60EMA (this is for a 50EMA pullback)
3. Currency strength meter = Strong pair (>6.0?) / Weak pair (<-4.0?)
4. Fibonacci Level = price has also retraced to a key fibonacci level

SELL SETUPS (opposite of buy setup basically)

1. 1hr chart = 18EMA < 50EMA < 200EMA
2. 15m chart = 18EMA < 50EMA < 200EMA
   3A) 15m chart = Price is between 15EMA and 21EMA (this for a 18EMA pullback)
   3B) 15m chart = Price is between 40EMA and 60EMA (this is for 50EMA pullback)
3. Currency strength meter = Weak Pair / Strong Pair
4. Fibonacci Level = Price has also retraced to a key fibonacci level

I have a source code for a currency strength meter that I have been using, just not sure how to create an alert for that or the Fibonacci levels.

Thank you for your help!!

Cody

[l'andorrà]

Do you have an initial project to begin with? Have you read how the builder works? That's a lot of work and doing it for the first time can be tough initially.

[Sauce]

@l-andorrà exactly! This is my first time building so I'm kinda in over my head on this one, haha. The only thing I was able to create were the EMA conditions. I have the code for the currency strength meter which displays the numbers on the chart (indicator), but not sure how to take those numbers in the code and make them into a condition. I'd be more than happy to share the strength meter's source code file with you if you'd like to take a look? This is the part I'm really hung up on and why I'm seeking additional help here. (thank you!!)

[l'andorrà]

Ok. What about the following? We can do it together step by step, if you want. Can you please share that EMA part? We can begin from there.

[trader.philipps]

@trader_sauce I think you need to be more precise on conditions.

Example: 15m chart = Price is between 15EMA and 21EMA (this is for a 18EMA pullback)

It can be a long time between both emas or just rush through. What is the exact condition?`Does a candle have to close in that area or doesn it need to leave the shorter ema .. and so on.
This is required in order to know which blocks are required and how to bring them in order.

[Sauce]

@trader-philipps It can be a long consolidation or a rush move. Ideally, looking to be notified of an 18EMA pullback before it happens, hence the 15-21EMAs range, if price is in that area at this current time the condition is met. (If you think there's a better way to condition that, let me know!) Hope that makes sense!

@l-andorrà i'm not sure how I share the build thus far? Here is a screenshot (not sure if I set this up correctly). The custom MQL code is the currency strength meter, but I have no idea how to link a condition to it when I'm not sure how to make the condition search that custom code

This is for a BUY alert

Thank you both for your help!

[trader.philipps]

@trader_sauce It would be easier, if you would share your project. However, in order to put a condition on your custom mql block, define 1 or 2 variables (depending on mql code) that you can use in a condition block after the custom mql code.
For instance if you define a variable for base currency and one for the quote currency, you might check if one variable value is bigger than the other or both have a minimum certain difference or whatever makes sense to your strategy.

[l'andorrà]

Trader.philipps is right. Sharing your current project would help a lot. Could you please do it?

[Sauce]

How do I share the project? (sorry, new to FXdreema)

Here is a screenshot of the scan (without the currency strength meter included) from thinkorswim:

[trader.philipps]

@trader_sauce What does low mean? Low of the previous candle?

[l'andorrà]

This is the way:

[Sauce]

@l-andorrà here we go: https://fxdreema.com/shared/oyy2lLuVd

@trader-philipps low means current candle's low

I'm also looking into editing the code for the Currency Strength Meter so that instead of saying 0.0 it says an amount in relation of 100-0 (80 instead of 8.0). So I may have an updated code to input then, for now I just put the unedited code on the project. I'm concerned I might have to build my own currency strength meter since I'm not quite sure how this current one is doing it's math, haha.

Here's a instructional video that shows the pattern I'm looking to trade on the 18EMA bounce (same pattern for the 50EMA trade setup too). Watch from 17:15 - 19:25 for the actual explanation and chart pattern. https://www.youtube.com/watch?v=rgAkANz4kCw (don't worry about how he says TCE vs Bounce strategy... just looking at the chart to get the idea of what I'm looking for... hope that helps!)

[l'andorrà]

I strongly recommend you to specify candle ID 1 on all operands of all condition blocks. Considering that your blocks are on the 'on Tick' tab you will get terrible results with your current candle ID 0 settings.

[Sauce]

@l-andorrà Not sure how to do that, this is where a newbie to fxDreema gets lost haha
Also found a more accurate Currency Strength Meter that can output numbers for an EA too.

[trader.philipps]

@trader_sauce said in Creating EA Help!: Trend Continuation with Currency strength, moving avg, and fib pullback:

@l-andorrà Not sure how to do that, this is where a newbie to fxDreema gets lost haha
Also found a more accurate Currency Strength Meter that can output numbers for an EA too.

Specify a candle ID where I marked (1)

[l'andorrà]

@trader_sauce said in Creating EA Help!: Trend Continuation with Currency strength, moving avg, and fib pullback:

@l-andorrà Not sure how to do that, this is where a newbie to fxDreema gets lost haha
Also found a more accurate Currency Strength Meter that can output numbers for an EA too.

Be careful with custom indicators. If you are a newbie, I strongly recommend you to study how to deal with them. Please read this thread:

https://fxdreema.com/forum/topic/4208/tutorial-06-my-indicators-in-fxdreema/46