[2009] Michael Covel - Trend Following Updated


I'm not sure the MACD is fast enough for what I'm trying to do, but you can share your thoughts on that here. The new EA can identify the tops and bottoms very well. It will also take advantage of the stop hunting broker tricks. I just need to filter out the false signals in between. Actually, some of them are not false. It's just that the signal sometimes comes too late on a small reversal to catch any good pips. I just had another idea tonight on using a tighter, better channel.

What I wanted to do before is go to a higher period as our trade progresses, but I found out that that doesn't work so good, especially after weekend gaps, so I reverted back to the original code. Possibly with the new channel idea, it might work better. I think we still need to increase the period (maybe for the CCI instead) to stay in the trade longer. Here is the template I'm using. Maybe we can put our heads together and figure out how to interpret all the signals correctly.

The new channel idea will use two MA's set to 3,linear weighted, with one set at the high and the other at the low. When price crosses above the high MA, we will look for a sell when the CCI(4) either crosses down past 100,50,0,-50, or -100, and also the Stoch 2,1 crosses down past the 80 level. When price crosses below the low MA, we look for a buy when the CCI(4) crosses up past the same levels, and the Stoch goes over 20.
We can also wait for the Line of Destiny (same as Slope Direction Line) to come back into the channel. Does anybody have any fresh insights?

Hi StoveDude

I understand your efforts about late entries issue
but that's not so easy to fix

I'm starting to think I must learn your language to explain my thoughts


could you please PM or send me some Manuals for MQ4 programming?

:confused:it does exist a book named "MQ4 programming for dummies"????

I must walk your road to help all of us to reach our target

just sending u a PM about it

Aurix Exchange