Hey Folks!
Got a question ? I found an indicator that I really like MACD/Bollinger/CollectiveMA signals posted by shodson. I have been using it with 10 min candles on the EUDUSD and EURJPY . About every 8 hours there tends to be be a consolidation and break out in these currency pairs and this indicator is very accurate in determining the direction. I would like to try to develop it into a strategy but I am still a beginner programmer. How do I best ask for help with this and where? thx
Can you help answer these questions from other members on futures io?
I think it would be very helpful if you attach some chart examples with markups on the indicators used, the instrument(s), the time frame(s), NT version and the specific criteria that make up your entries/exits etc. Without this detailed information it will be very difficult for you to get help.
So I have manually gone through 180 days of EURUSD and EURJPY 10 minute candles and found this pattern. (perhaps it is common knowledge for some traders I don't know). As you may know there are 3 major Forex markets opening and closing in a 24 our period, New York, Japan/Australia and London. When there is a strong consolidation period between the close of one and the open of another... the the first significant move is usually in the direction that first candle closes outside of the Bollinger Bands. This indicator is very good at pointing these potential entry's out. I would love to have a strategy that could:
1) be turned on and off based automatically base on time of day.
2) qualify what the best minimum consolidation period is .. ATR and number of BARS
3) Buy, Sell set stops
There are a few more nuances that I would add but I would be happy to back test this.
