Using Is Bar Open function

Hi,

 

Can someone explain how I could set this up. I am looking to trade on a 4hr chart and only want trades to execute when the parameters are triggered at the close of the set up candle. i.e. if daily MACD is negative (this candle will be in play) and 4hr RSI (2) closes above 97 then go short.

 

Have enclosed a screenshot from manual but cannot find those parameters on the EA Wizard and not to sure how to implement it.

 

Many thanks,

 

David.

David,

Attached is an example of doing what you stated in your post.

 

Basically, which each indicator there is a timeframe option.  So for MACD, you choose D1.  For RSI, you can either leave it at “Current” and then you would need to put the EA onto the H4 timeframe chart.  Or you could specificy the timeframe as H4 and then you could put the EA on any timeframe chart.

 

-Stearno

Stearno,

 

Thanks for your response. I appreciate your outline and I like to think I’ve got that concept, however when I run the EA I find that I have entries that do not correlate with the opening of the 4hr candle and I am concerned that triggers are being executed once the parameters are reached and not on the open of the following candle as I require for my strategy.

 

Many thanks.