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One strategy to trade ranging and trending markets

1 replies

7 years ago #115607

Hi There,

Just wanted to ask if it were possible to use EA Wizard to set up the following trading approach.

Install custom indicator which uses a daily time chart to determine if the market is ranging or trending and is binary.
If ranging it uses one approach on a minute time chart.
If its trending it determines the direction, trades on the daily time period.
It closes a trade, even in the middle of a trade when the indicator changes.

Thanks,

GJ

7 years ago #139615

Hello,

yes, this should be possible to accomplish. If you use daily timeframe as a main trading chart you can reference 1 minute chart and make decisions based on that.

Still you can create two separate EAs which makes things much easier I believe.

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