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Help setting this in Algowizard

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GermanMazza

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1 month ago #278633

I’ve been trying to set this condition to start a trade:

 

1- The price should bounce in the 8 EMA
2- The trade should open at the close of a green candle (inside the next 5) that is crossing the maximum level of the price in the last 6 candles

 

Any help is really appreciated

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tomas262

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1 month ago #278649

Hi,

as an EMA bounce do you require the price to cross below then above?

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GermanMazza

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1 month ago #278669

Signal:  Yes, one candle down then the next one above the EMA. (bounce)

Long open at:  the first candle to be taller than the last 5, before the red one (check the new attachment please)

I’ve marked the 4th candle in yellow, as it is the tallest of the last five before the red bouncing candle.

Thank you!

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tomas262

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4 weeks ago #278705

I see you do not count with candlestick wicks and take only candle body into account, correct?

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GermanMazza

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3 weeks ago #278747

For the bounce I consider the wicks, but for the “long open at” I consider the bodies. But I could try with the wicks for everything. I think it does not change so much the strategy

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tomas262

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3 weeks ago #278758

Ok, I have tried to setup a very similar system. Check the example attached

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GermanMazza

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2 weeks ago #278771

Thank you for that! I’ll be working on it. Now I need to add a filter so it will only operate in very trendy markets. For example In H1 (as a filter): ema 13 > ema 21 + atr 25. Or a parabolic sar.

I’ll upload it when I have something better.

Thank you!!

The original video of this strategy
https://www.youtube.com/watch?v=zhEukjCzXwM&t=363s

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