Crack Forex Ea Creator Mt4 Indicator
I have tried today my first experiment to build a simple 'Moving Average cross EA'. It is a simple EA only to try the builder. The EA should buy when the 5 EMA cross the 20 SMA cross up -> long cross down -> short close positions with TP or SL and with the cross in the other direction.
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So far so good it opens the positions as it should be. But what i dont understand why doesnt it close the position when there is a cross in the other direction? It only closes the position with the TP or SL.
What did i wrong with the close logics? I have attached the file which you can load in the EA-builder to see the settings. Identifies Trend The Wave Principle identifies the direction of the dominant trend. A five-wave advance identifies the overall trend as up. Conversely, a five-wave decline determines that the larger trend is down.
Why is this information important? Because it is easier to trade in the direction of the dominant trend, since it is the path of least resistance and undoubtedly explains the saying, “the trend is your friend.” Simply put, the probability of a successful commodity trade is much greater if a trader is long Soybeans when the other grains are rallying. Identifies Countertrend The Wave Principle also identifies countertrend moves. The three-wave pattern is a corrective response to the preceding impulse wave. Knowing that a recent move in price is merely a correction within a larger trending market is especially important for traders, because corrections are opportunities for traders to position themselves in the direction of the larger trend of a market. Determines Maturity of a Trend As Elliott observed, wave patterns form larger and smaller versions of themselves.
This repetition in form means that price activity is fractal, as illustrated in Figure 2-1. Wave (1) subdivides into five small waves, yet is part of a larger five-wave pattern.
How is this information useful? It helps traders recognize the maturity of a trend. If prices are advancing in wave 5 of a five-wave advance for example, and wave 5 has already completed three or four smaller waves, a trader knows this is not the time to add long positions. Instead, it may be time to take profits or at least to raise protective stops. Since the Wave Principle identifies trend, countertrend, and the maturity of a trend, it’s no surprise that the Wave Principle also signals the return of the dominant trend.
Once a countertrend move unfolds in three waves (A-B-C), this structure can signal the point where the dominant trend has resumed, namely, once price action exceeds the extreme of wave B. Knowing precisely when a trend has resumed brings an added benefit: It increases the probability of a successful trade, which is further enhanced when accompanied by tradition[IMG]file:///C:/Users/Luke/AppData/Local/Temp/msohtml1/01/clip_image002.jpg[/IMG]al technical studies. Figure 2-1 4. Provides Price Targets What traditional technical studies simply don’t offer — high probability price targets — the Wave Principle again provides. Elliott wrote about the Wave Principle in Nature’s Law, he stated that the Fibonacci sequence was the mathematical basis for the Wave Principle. Elliott waves, both impulsive and corrective, adhere to specific Fibonacci proportions, as illustrated in Figure 2-2. For example, common objectives for wave 3 are 1.618 and 2.618 multiples of wave 1.
In corrections, wave 2 typically ends near the.618 retracement of wave 1, and wave 4 often tests the.382 retracement of wave 3. These high probability price targets allow traders to set profit-taking objectives or identify regions where the next turn in prices will occur. [IMG]file:///C:/Users/Luke/AppData/Local/Temp/msohtml1/01/clip_image004.jpg[/IMG] Figure 2-2 5. Provides Specific Points of Ruin At what point does a trade fail? Many traders use money management rules to determine the answer to this question, because technical studies simply don’t offer one. Yet the Wave Principle does — in the form of Elliott wave rules.
Rule 1: Wave 2 can never retrace more than 100% of wave 1. Rule 2: Wave 4 may never end in the price territory of wave 1. Rule 3: Out of the three impulse waves — 1, 3 and 5 — wave 3 can never be the shortest. A violation of one or more of these rules implies that the operative wave count is incorrect. How can traders use this information? If a technical study warns of an upturn in prices, and the wave pattern is a second- wave pullback, the trader knows specifically at what point the trade will fail – a move beyond the origin of wave 1. That kind of guidance is difficult to come by without a framework like the Wave Principle.