This expert advisor is a sophisticated trading strategy that relies on three key indicators to identify potential trading opportunities:
Long Position:
- ATR MA Oscillator:
- Measures the deviation between the current price and a moving average of the Average True Range (ATR).
- Identifies overbought and oversold market conditions.
- SuperTrend v2:
- A trend-following indicator utilizing a moving average and ATR to determine the prevailing trend direction.
- Accelerator Oscillator:
- Measures the variance between two moving averages of the price.
- Identifies overbought and oversold conditions while assessing market momentum.
Long Position:
- Positive ATR MA Oscillator.
- SuperTrend v2 indicates an uptrend.
- Positive reading on the Accelerator Oscillator.
- Negative ATR MA Oscillator.
- SuperTrend v2 signals a downtrend.
- Negative reading on the Accelerator Oscillator.
- Opening Positions:
- Requires unanimous agreement from all three indicators on market direction.
- Closing Positions:
- Triggered by an opposing signal from all three indicators.
- Closing conditions include reaching predetermined levels (take profit or stop loss) or detecting a trend reversal.
- Trailing Stop:
- Implements a trailing stop to safeguard profits during favorable market movements.
- Indicator Calculation:
- Compute indicator values at the start of each bar.
- Signal Confirmation:
- Confirm consensus among all three indicators for market direction.
- Position Opening:
- Open a position if conditions align.
- Monitoring and Management:
- Constantly monitor market conditions.
- Close positions based on specified criteria (opposite signal, take profit, stop loss, or trend reversal).
- Trailing Stop:
- Use a trailing stop to protect profits as the market moves favorably.
- Iterative Process:
- Move to the next bar and repeat the trading process.
- Complexity:
- The strategy is intricate, relying on multiple indicators for decision-making.
- Risk Management:
- Incorporates risk management through stop loss, take profit, and trailing stop mechanisms.
- Continuous Monitoring:
- Demands ongoing vigilance of market conditions.
- Trend Reversal Detection:
- Positions are closed when a trend reversal is detected.
- Live Trading Caution:
- Prudent understanding of the strategy is crucial before applying it to a live trading account.
