Contrarian Moving Average Signals Using Weekly Price Levels

Summary

The document describes an Expert Advisor that combines a moving average with recent high and low levels to generate contrarian buy and sell signals. It uses a weekly timeframe by default, while allowing the timeframe for the moving average and price data to be set separately. A configurable lookback determines the interval used to find the highest high and lowest low; position size and stop loss are also configurable.

The buy condition is triggered when either the prior close exceeds the lookback high or the moving average is above the current bar's open. The sell condition uses the corresponding low and moving-average comparisons. The EA allows only one open position at a time, supporting both hedging and netting accounts. The document gives signal rules but no backtest, performance evidence, market selection, or rationale for the thresholds, so profitability and robustness cannot be assessed from it.

Key ideas

• The EA combines a moving average with lookback highs and lows to form contrarian signals.
• A buy signal follows either a close above the lookback high or a moving average above the current open.
• A sell signal follows either a close below the lookback low or a moving average below the current open.
• The timeframe, lookback length, position size, and stop loss are configurable.
• The EA holds at most one position and provides no performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.