Rank: Newbie
Groups: Registered, Registered Users Joined: 8/13/2006(UTC) Posts: 7
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Dear Friends,
Could someone help me to ge the formula for Ascending/Descending triangle and Double Top/Double bottom for The expert advisor?
By the way, Please tell me how to write the formula into the expert advisor step by step cause I am very newbie on using expert advisor formula.
Thanks a lot
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Rank: Member
Groups: Registered, Registered Users, Subscribers Joined: 8/27/2006(UTC) Posts: 16 Location: Finland
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There´s one available via tsagroup. Including in PS packet.
This system looks for a very small triangle consisting of two consecutive bars with lower highs and higher lows. This is an uncommon pattern that is traded as a consolidation breakout. Once this small triangle occurs, a breakout is detected and a trade is placed in the direction of the breakout. A long position is exited when the price falls below the previous days low, and a short position is exited when the price rises above the previous days high.
Note that the system tester will show all entries or exits as if the trade is made on the closing price (an MOC or Market-On-Close order). While the system can certainly be traded this way, the proper technique would be to know when the three-bar triangle pattern occurs and then to make a trade in the direction of the breakout upon crossing either the high or low price of the most recent small triangle bar. A true stop would be placed at the previous day’s extreme price (low for long positions, high for short position) and is constantly moved each day to follow the position.
Visit http://www.tsagroup.com
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