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The EA will use this 2 indicator to enter in a trade, also will use it as a filter to avoid a new order, and this is too work on renko offiline chart
Indicator Line Brake:
the EA have to plot a line do define the close of the Bar, if the bars is in a uptrend, this line have to be draw on up close, if the price is in downtrend this line have to be draw in a short close.
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Indicator Trend direction: every single candle the chart draw in a up trend it have to have a same up trend color, lets assume BLUE to up and Red to short ,
once the price draw certain number of the candle to upside direction , when the last candle close it have to draw differente color, lets assume 2 candles, if the prices
going long and the second candle to down side close the indicator have to draw this last candle RED....... I need to customize this filter on parameter, i need to
set how many opposite candles to change Colors.....
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EA :
Break of certain numbers of the bars back, the default is 3 on (LINE BRAKE INDICATOR).
for long is a break of 3 highest higher candle,
for short short is a break of 3 lowest low candle,
-But the EA trades on pull back, so also the EA need know how many pips pullback to set a pending limit order to open a order,
Lets assume the EA are going up with blue candle and the price retrace and the EA see the 3 lowest low back line was touch and candle closed below, this is a signal
to EA set a pending limit order to go short some pips above the line brake, this parameter i need set manually on parameter, lets
assume I set on parameters 4 pips pull back, its mean on this situation the prices was going long and retraces enough to touch
the lowest low line and activate the Pending limit order to go short 4 pips above of the line brake, if the price pull back up and touch this
pending order it will open a short trade
- to close a order is when the EA find the opposite line brake , so, if the EA have a long order opened and the EA have a line brake to short side the EA have to close the Last long order. its important
the EA do not have to set a Stop loss line, the EA will close a order as long the EA find the upside line brake.....
- As long the EA activate the pending order but not retraces, it have to cancel the pending order when the second candle closed, also is important know the trend indicator colors bars is a filter to accept the pending order
if the price retraces but the bars are not on the desired colors of the trend the EA have to block the order....
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EA parameters to trade:
Time Filter: allow the EA trade just certain time of the day
money management: lote size or % of equity
parcial close in profit: in pips, also chose the percentage of close
Point coeficiente: 10/100/1000, this option is important to trade also indices like Dax or Gold, etc
Stop day trading after some profit in Pips or Currency
Break even:
News filter: let EA trading just certain time before and after some news event
obs: this two links works how this system works
this is to understand the trend line brake : https://www.youtube.com/watch?v=qIRaaVRmtv0
this one explain the pending limit order : https://www.youtube.com/watch?v=cs53HDEz8gc
