The MA-RSI Winner

Hi All,

This is my first strategy. Works really well on the 1HR timeframe on most Forex Pairs and most notibly on GBP/AUD.

It uses the RSI indicator of 8 periods to identify volume at both 40 and 60 respectively to either go long or short. This is then paired with a Moving Average of 22 (Optimised) to look at crossovers for entering and exiting the trades.

It uses a 4 Point/Pip Trailling Stop.

What would I like to add?

I would like to use an ATR at 20 periods to automatically calculate the Trailling Stop but I dont have the coding skills to add this.

Short position example

Current Timeframe Candle High price + (2*ATR) = Stop Loss

Long Position Example

Current Timeframe Candle Low Price – 2*ATR = Trailling Stop Value

In the example above i’ve used 2 ATR. Ideally i would want this to be configurable or at least easy to change the number in the code as an integer.

Appreciate any improvements, comments etc…

// Definition of code parameters
DEFPARAM CumulateOrders = False // Cumulating positions deactivated

// Conditions to enter long positions
indicator1 = RSI[8](close)
c1 = (indicator1 >= 60)
indicator2 = ExponentialAverage[22](close)
c2 = (close[1] > indicator2[1])

IF c1 AND c2 THEN
BUY 1 CONTRACT AT MARKET
ENDIF

// Conditions to exit long positions
indicator3 = ExponentialAverage[22](close)
c3 = (close < indicator3)

IF c3 THEN
SELL AT MARKET
ENDIF

// Conditions to enter short positions
indicator4 = RSI[8](close)
c4 = (indicator4 <= 40)
indicator5 = ExponentialAverage[22](close)
c5 = (close[1] < indicator5[1])

IF c4 AND c5 THEN
SELLSHORT 1 CONTRACT AT MARKET
ENDIF

// Conditions to exit short positions
indicator6 = ExponentialAverage[22](close)
c6 = (close > indicator6)

IF c6 THEN
EXITSHORT AT MARKET
ENDIF

// Stops and targets
SET STOP pTRAILING 4