Friday, September 30, 2011

High Low Searching Using Simple Moving Average (SMA)

Recently, I have decided to create my own EA to monitor my Forex trading with my experienced strategies. This is long time to go, I need some time to learn the mql4 programming language. Actually it is almost same as C language, luckily I have learnt it for PIC Microcontroller during my university life. First of all, we need to find the High or Low of the wave from the chart as shown below.


Click the photo for clearer view. With these Highs and Lows, we can calculate the Fibonacci Price Retracement or other patterns you want to apply. No matter what strategy you use, I think most of the professional traders need these Highs and Lows to predict the next movement. I still in the progress to apply my strategies to this EA now, at the same time I just share it here to you all for starting up your own EA. Free of charge of course.

Download, HLSearchingSMA.mq4
Download, HLSearchingSMA.ex4

Note: This is not an indicator. If you want it as indicator, you may need to move the code to indicator project and some modifications may needed.
The red arrows in the picture are used to indicator my Highs and Lows only, for my code troubleshooting use.
If you have any question, just post a comment there. Hopefully we can share the knowledge or experience together here.