Combining Awesome Oscillator & EMA8
June 27, 2016, 10:29 AM
Strategies
0 Comments
Hi all,
Trying to discover a good forex strategy (which is very difficult !), I found this strategy on the net.
The author claimed that is was very effective.
After a quick backtest, I find that it is effective on EUR/USD, H4, only for “long” positions. But elseway it’s not very profitable.
As the code is very simple, I think there is much way to improve it.
We go “long” when close crosses over EMA8, and the Awesome Oscillator changes direction.
Regards,
EMA8 = exponentialaverage[8](close)
AO = Average[5](medianprice) - Average[34](medianprice)
IF AO > AO[1] and AO[1] < AO[2] and close crosses over EMA8 THEN
buy at market
ENDIF
set stop %loss 0.75
set target %profit 1.5
Download
Filename:
AO-EMA8.itf
Downloads:
226
Master
Hello, I'm Marc.
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