Auftrag beendet
Spezifikation
The time that is given in the algorithm description is in GMT+1
1. Consider the range formed between 02:00 and 7:00AM that we will call "Asian range" (range timeslot must a parameters that can be modified)
2. Wait for any side of "Asian range" to be ran out between from 7:00AM until 9AM and note the last highest or lowest price formed after the liquidity run.
We will call this "Pending liquidity"
3. From 9AM to 9:30AM wait for the "Pending liquidity" to be ran.
NOTE :
If the liquidity run takes place out of this timeslot, the setup is not valid
This timeslot must be modified into a parameter
4. After the "Pending liquidity" is ran out, wait for (2 options)
1) a market structure break in 1m timeframe that shows a reversal. (see attached snipet as an example)
- Place a limit order into the most extreme 1 minute fair value gap (imbalance) that originates the market structure break (entry can be set a 0% or 50% of the fair value gap)
- Stop loss is set behind the ultimate liquidity run
- Take Profit would be 3R, 5R, Mid or other side of the Asian range (must be a parameter that can be changed ).
- Lot size must be figured out as per a risk Percentage of the total balance
2) an 5-min engulfing candle pattern that show a reversal.
For example,
a bearish 5min engulfing if the high of the range has been ran out
a bullish 5min engulfing if the low of the range has been ran out
see attached snipet as an example
For a bearish 5min engulfing
- Place a limit order at the opening price of the 5min bullish candle that precede the 5min bearish engulfing candle
- Set the Stop Loss at the closure price of the 5min bullish candle that precede the 5min bearish engulfing candle
- Take Profit would be 3R, 5R, Mid or other side of the Asian range (must be a parameter that can be changed )
- Lot size must be figured out as per a risk Percentage of the total balance
For a bullish 5min engulfing
- Place a limit order at the opening price of the 5min bearish candle that precede the 5min bullish engulfing candle
- Set the Stop Loss at the closure price of the 5min bearish candle that precede the 5min bullish engulfing candle
- Take Profit would be 3R, 5R, Mid or other side of the Asian range (must be a parameter that can be changed )
- Lot size must be figured out as per a risk Percentage of the total balance
Note, all placed orders are limit order. Those orders must have a duration before they expires. This duration must be a parameters
Invalidation rules:
1) Price hit mid or other side of the Asian range before pulling back to the entry price
Nice to have feature:
Adding confluence/confirmation based on the area when this setup occurs (supply or demand)
Must to have risk management feature :
- Once price hits a given take profit or threshold, the order must be placed at breakeven
Nice to have risk management feature :
- Being able to take partial profit with a desired percentage at each step