This strategy trades a chart-timeframe exponential moving average crossover only when a higher-timeframe close agrees with a higher-timeframe exponential moving average.
A bullish cross opens a long and a bearish cross opens a short. Each entry places an average true range stop and limit target using the stop and target multipliers. Users can change the higher timeframe, the three moving-average lengths, the average true range length, and both exit multipliers. It draws the moving averages, bias background, and entry markers on the price chart. Higher-timeframe requests use a one-bar offset, but the script does not require the selected timeframe to be above the chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Higher TF
string
D
htfInput
HTF EMA
int
21
htfEmaLen
Fast EMA
int
9
fastLen
Slow EMA
int
21
slowLen
ATR
int
14
atrLen
SL Mult
float
1.5
slMult
TP Mult
float
2.5
tpMult
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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