Daily Market Dominance Bias with Moving Average and ATR Risk Controls

Summary

This document describes an Expert Advisor that sets a daily trading bias by comparing the number of bullish and bearish candles from the previous day. It checks whether that day’s final close is above or below a moving average, and enters only when the candle-count direction and moving-average position agree. An optional inverted setting reverses the resulting signal. The system aims to trade once per symbol per day, after checking for an existing position.

For risk management, the EA uses minimum broker volume, places a stop based on the prior day’s range expanded by an ATR multiple, and sets a take profit at twice the stop distance. It also describes checks for stop-level rules, available margin, and valid prices. The document explains the design and configurable inputs, but offers no backtest, performance evidence, market or timeframe specification, or evaluation of costs and failure cases. The strategy’s effectiveness therefore cannot be inferred from the description alone.

Key ideas

• The EA establishes direction from the previous day’s balance of bullish and bearish candles.
• A moving-average check must confirm the previous day’s final close before a bias is accepted.
• An inverted mode reverses the normal direction and can be used to explore contrarian signals.
• The system seeks to open at most one position per symbol each day.
• Stops use the prior day’s range and an ATR adjustment, while profit targets are set at twice the stop distance.
• The document describes execution safeguards but provides no results demonstrating strategy performance.

Tags

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