Compare two ema50 of different time frames higher. If the lower time frame ema50 is above the higher one then is up-trending market and only long positions can be opened. Otherwise only short position can be opened
Watch out for a peak in the price by a cross over in a bollinger band and a close inside it.
Watch out for a second one and compare the macd of the last peak, if the price is a higher high/lower low and the macd is the inverse (lower low/higher high) then a divergence is detected and a position is opened iff the divergence corresponds with the trend of the market. A divergence with a lower low in price is long entrance indicator, and a higher high is a short entrance indicator.
The target is set with 3 times the ATR and the Stop Loss with 2 times the ATR of the last prices.
Once met the target or the stop loss the bot search again for a peak.
The bot can be set to only look for a price peak and ignore macd divergence (Needs a fix that only search for a single peak with more robust Bollinger band parameters )
Change strategy to works as follows:
The bot can be set to only look for a price peak and ignore macd divergence (Needs a fix that only search for a single peak with more robust Bollinger band parameters )
More clear alerts has been added
Indicators introduced:
MTF EMA MACD indicator ATR indicator