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,
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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 |
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