20 EMA Mean reversion

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  • #193666 Report

    Hi

    I want to automate mean reversal strategy but I have no knowledge of coding. Any help will be appreciated.

    Following rules are for short only. I can then reverse for long entry on those basis. I have attached an example for the entry on chart

    On 30 minute times frame for short entry using 20 Exponential moving average:

    1. If the lowest price (bottom of the wick) closes above 20 EMA
    2. Short entry as soon as the current price crosses the bottom/lowest of the previous candle (which closed above 20 EMA). Buffer of 2 pips/points below the low of previous candle for entry.
    3. SL – 2 points/pips above the highest part (including wick) of previous 4 candles
    4. TP – 1.1 * SL i.e. RR is 1:1.1

    Inverse for long entry which I can work on the basis of short coding.

    Entry and exit on the attached chart as an example.

    Many thanks in advance.

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