Topic: FSB Pro Indicator/EA Logic
Here is a copy of the Opening Logic of my 616EURUSDM1 FSB Pro generated EA;
Open a new long position or add to an existing position 2 points above a Down Fractal when all the following logic conditions are satisfied:
the Market Facilitation Index* rises [EURUSD M30] (repeated one more time); and
the Awesome Oscillator* (Simple, Median, 34, 5) is lower than the Level 0 [EURUSD D1].
Open a new short position or add to an existing position 2 points below an Up Fractal when all the following logic conditions are satisfied:
the Market Facilitation Index* rises [EURUSD M30] (repeated one more time); and
the Awesome Oscillator* (Simple, Median, 34, 5) is higher than the Level 0 [EURUSD D1].
When this EA and its siblings are attached to appropriate M1 charts, for hours at a time the MFI display always says that neither buy or sell transactions are allowed. MFI 'rises' No-No No-No. The implication is that the MFI NEVER RISES! Isn't that so????
here is same info for 616GBPUSDM1;
Open a new long position or add to an existing position or reverse a short position 64 points below a Down Fractal when all the following logic conditions are satisfied:
the Awesome Oscillator* (Exponential, Typical, 9, 13) is lower than the Level 0.0007 [GBPUSD M5]; and
the Market Facilitation Index* rises [GBPUSD M30].
Open a new short position or add to an existing position or reverse a long position 64 points above an Up Fractal when all the following logic conditions are satisfied:
the Awesome Oscillator* (Exponential, Typical, 9, 13) is higher than the Level -0.0007 [GBPUSD M5]; and
the Market Facilitation Index* rises [GBPUSD M30].
Similarly, I get nothing but 'No's on Oanda MT4 with CandleGBPUSD60 smiley face.
Opening (Entry Signal)
Open a new long position or add to an existing position or close a short position at the beginning of the bar when all the following logic conditions are satisfied:
a bullish candle is formed; and
there is a volume higher than the average.
Open a new short position or add to an existing position or close a long position at the beginning of the bar when all the following logic conditions are satisfied:
a bearish candle is formed; and
there is a volume higher than the average.
Hour after hour on Oanda chart display "is entry allowed by Rising Volume" ???? No-No No-No