Aug 21, 2012

danw2 - pending + 5-8 ema mtf v0.11 EA

Here's an EA I threw together quickly after reading this thread on Forex Factory.

The idea was to get the trend from a higher time frame, and when the trend matches on a lower time frame, place a pending order above/below the high/low of candle going against the trend.

It didn't generate many orders in back tests with the settings suggested by the thread, so the time frames were adjusted to the 4 hour and daily.

Results, after optimization, weren't bad. Some profit across the year. Was too scared to try it on any other pairs, as they usually all show horrible results, which possibly indicates my EURUSD history data used for back testing is too optimistic somehow.

Back-test on EURUSD, 1-1-2011 to 1-1-2012