I can’t contribute as I am not a coder but here are my ideas for those who are the talented ones.
This is my contribution to your search for the Holy Grail.
My definition the Holy Grail is that any good template will not produce a loss over a week - and that is my target for an EA.
The indicator I have chosen initially is MACD.
The indicators I have posted are the standard indicators with my settings - and as they are my settings for a specific timeframe and chart I have renamed them for my own recognition – I am hoping this is not an offence?
The ‘underlay’ goes on first and the other is placed on top. Template for the Dow 15m attached - also you can check the outcome of the sell trade on the DAX (see illustration) as the same template fits the Dax.
THE MOST IMPORTANT ASPECT OF THIS POST is that these MACD levels create meaningful and often accurate S&R levels and regularly show divergence.
It seems to me that someone at forex-station can produce a very successful EA using chart and timeframe specific MACD levels – making a stop very accurate as the crossing of levels is a support/resistance and the histo value can be associated with the price at the time of the cross over the level.
If someone does make a chart specific EA (and I will help with the specific settings as they mainly are different) could it be agreed that 5% of the weekly profits be sent to the British heart Foundation?
I have pre-named the prospective EA ‘LRT’. It stands for Low Risk Trader’ – not the brilliant Singapore underground.
Plan of attack is as follows:
1. Chart choice – preferably indices but will adapt to FX.
3. I will give the coder the MACD settings and standard entry, exit and stop loss based on the illustration of entry and exit
4. It can be tried demo for one week and adapted if necessary and those who are involved should expect to make a profit every single week otherwise it is a failure.
5. It will never be put up for sale without the express agreement that 5% of weekly profits will be donated to the charity above
Indicators attached along with a specimen chart as an illustration as to how it works.
Any problems get back to me.