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I want to use weekly 13 period EMA in a signal which is predominantly based
on buying pullbacks on daily data. In essence, I want to determine trend
direction
& strength before buying this pull back. I want to achieve this by looking
at the direction
of 13 weekly EMA & also , if possible, to code its ? slope for the strength
of the trend.
I have tried this & signal verifies ok but I am not getting any trades. I
appear to be doing
something basic wrong but don't know what. I have tried this code with both
daily & weekly
charts of the symbol in sub-graph 1, but no success. Help please!
If MarketPosition = 0 Then Begin
If DataCompression = 3 Then Begin
If (XAverage( Close, 13 )> XAverage( Close, 13 )[1]
And XAverage( Close, 13 )[1] > XAverage( Close, 13 )[2])
Then Begin
If DataCompression = 2 Then Begin
If {********Now the daily oversold signals******}
Then Begin
Buy ( "Buy" ) at High Stop;
end;
end;
end;
end;
end;
{Also am I making this determination of trend much more complicated than it
should be?
Regards
Sam
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