H1 10ema Touch

CHOROS_H1_10_Notify

When this parameter is True, possible H1 10ema touch trades will be notified and highlighted with a black box.

CHOROS_H1_10_Min_M153550_Tilt

To trade an H1 10ema touch, the steepness or inclination of M15 35/50 needs to be notable and those two MAs should also be reasonably parallel. This parameter value indicates the minimum Average of the Tilts of M15 35sma and M15 50ema to consider it as valid for a possible trade. Please read more about how and why Tilt is calculated here.

CHOROS_H1_10_Min_10_3550_Dist

When M15 10ema is too close to M15 35sma or too close to M15 50ema, then price may pass through M15 35/50 MAs, so use this parameter to indicate the minimum distance between M15 10ema and M15 35sma and between M15 10ema and M15 50ema to consider it as valid for a possible trade.

CHOROS_H1_10_Max_MAs_Height

When H1 10ema, M15 35sma and M15 50ema are almost on top of each other, then the level they form at that moment is very strong, when they start to diverge, the level turns weaker. Use this parameter to indicate the maximum height or distance in pips between these three MAs to consider them valid for a possible trade.

CHOROS_H1_10_Max_Cnflnc_Height

Use this parameter to indicate the maximum height of the area around the H1 10ema, M15 35sma and M15 50ema where S/R Levels should be in confluence.

CHOROS_H1_10_Min_Confluence

When H1 10ema, M15 35sma and M15 50ema are in confluence with at least one S/R Level, there is a higher probability that the trade may work. Use this parameter to indicate with how many levels should the H1 10ema, M15 35sma and M15 50ema projections should be in confluence to consider the area as valid for a possible trade. If this value is zero, S/R Levels will not be considered.

Example

Step 1: When all the analysis conditions are met, the EA notifies and highlights the area of interest with a black rectangle. In this example the EA displays the notification at the close of the last bar giving us some time to decide.You can see more detail of the notification in the Experts Tab of the Terminal Metatrader 4 window.

Step 2: You decide if you are going to trade this possible setup or not, you can wait to trade it manually when the area of interest is reached or you can use the EA Buy Levels to indicate when the EA should Buy. In this case we are going to set a Buy Level and let the EA trade the setup if the price gets there. As you can see on the following image, I'm setting the Buy Level on Daily R1, in this case that would be the safest entry because price usually reacts to Daily Pivots and as you can see on the H1 chart, H1 10ema projection is in confluence with Daily R1. The Stop Loss level could be set below M15 50ema for around -20 pips, the EA calculates the lot size to risk TRADE_Risk of the account, in this sample 2%.

Step 3: Price reached the Buy Level where the EA sends a Market Order and also sets the Stop Loss (SL) and Take Profit (TP) levels. TP level is set based on the value of TRADE_TakeProfitPips, in this sample 20 pips. You can also see that the current order information is displayed on the left as "Buy Order #1" because INFO_Open_Orders_Show parameter is set to True.

Step 4: After the Market Order is sent, you can adjust the SL and TP levels as you feel necessary by dragging the SL and/or TP lines. In this sample we are moving SL to be exactly 20 pips, and moving TP to around +38 pips to an area where we can see that price struggled before. The Order Info on the left shows the percentage that your account will increase in case TP is hit or decrease in case the SL is hit.

Step 5: When profit is equal or greater than TRADE_PipsToBreakEven, the EA moves the SL level to Break Even + TRADE_BreakEvenPlus. In this sample TRADE_PipsToBreakEven is 10 and TRADE_BreakEvenPlus is 1.

Step 6: Take Profit level has been hit, the EA will draw arrows and a line at entry and exit points and also Daily, Weekly and Monthly account growth is displayed at top/right corner of the chart because INFO_Profit_Statistics_Show is True. As you can see on the following image all the analysis conditions are still valid, that is why the EA is still displaying an area of interest and is also notifying the possible setup. You may decide to enter or not but in this case a re-entry might be risky.

IMPORTANT: Don't take trades from these signals blindly. Read the manual and comments on the CHOROS System Thread to understand the system and, if you want, use this EA as a tool to help you find the setups. If you don't know what you are doing you will lose money.