Expert Advisor for Pattern Recognition

 Double Top Bottom Line Trader EA System

·         Have these inputs:

1.       Take profit pending order                                                           ____________ Pips or Price of the Pair or US $ profit

2.       Stop loss pending order                                                              ____________ Pips or Price of the Pair or US $ loss

3.       Lot increments of all 3 sizes (standard, mini, micro)                   ____________ % Equity and US $ Equivalent (Example 2% of account = 1.11 lots)       

4.       SL move to B/E based on pattern range                                      ____________ Pips or Price of the Pair or US $ Amount

5.       List of Currencies to scan                                                          ____________ Up to 50

6.       Indicator stating price/pip                                                        ____________ 

7.       Swap rate indicator showing % interest payable if long or short

8.       The capability to trade 6 or more currency pairs in any combination of long only, short only or both long and short

9.       The capability to trade Double top, Triple Top, Head and Shoulders, Double Bottom, Triple Bottom, Inverse Head and Shoulders 

10.   Time exit ______________________adjustable and on/off

11.  Elect to trade during the news using signals from my provider _____________________Red News Yes / No Yellow News Yes / No Orange News Yes / No

12. Adjustable time intervals include 15 min, 30 min, 1 hour, 2 hour, 4 hour, Daily, Weekly

·         Scan the chosen Currencies and Detect Double Tops, Double Bottoms, Triple Tops, Triple Bottoms, Head and Shoulders, and Inverse Head and Shoulders

·         In the event of a Double top, Triple Top, or Head and Shoulders:

A)      Allow for a Line to be drawn at the neckline of the formation (Please see the picture explanation below)

B)      Perform a measurement of the most recent Top High (From Candle Body-not wick) to the neckline which will be considered the distance to the Target and Stop loss.

C)      Set the Stop loss and Take Profit using the distance measured between the neckline and the most recent top (candle body) as described above.

D)      Set a Pending Sell Order at the neckline using a lot size of 2% of Equity (changeable) and the total open trades not exceeding 50% of the total account size.

E)      Perform a Sell Entry when a candle body closes below the neckline of the formation.

F)       Find the time that it took for the move to occur that caused the trade to take place (Double Top, Triple Top, etc.) and set an exit point for the trade at 1/3 of the time it took for the move to occur (adjustable , or on/off)

G)     Move the Stop Loss to Break Even (plus spread) once price closes below the 62% Fibonacci retracement level of the Neckline and Take Profit Target.

H)     Allow for the trade to Continue until the Stop Loss or Take Profit is achieved.

·         In the event of a Double Bottom, Triple Bottom, or Inverse Head and Shoulders:

A)      Allow for a line to be drawn at the neckline of the formation (Please see the picture explanation below)

B)      Perform a measurement of the most recent Bottom Low (From Candle Body- not wick) to the neckline which will be considered the distance to the Target and Stop Loss.

C)      Set the Stop loss and Take Profit using the distance measured between the neckline and the most recent Bottom (candle body).

D)      Set a Pending Buy Order at the neckline using a lot size of 2% of Equity and the total open trades not exceeding 50% of the total account size.

E)      Perform a Buy Entry when a candle body closes Above the neckline of the Double Bottom.

F)       Find the time that it took for the move to occur that caused the trade to take place (Double Top, Triple Top, etc.) and set an exit point for the trade at 1/3 of the time it took for the move to occur (adjustable, or on/off)

G)     Move the Stop Loss to Break Even (plus spread) once price closes above the 62% Fibonacci retracement level of the Neckline and Take Profit Target.  

H)     Allow for the trade to Continue until the Stop Loss or Take Profit is achieved.

* Please feel free to make suggestions for anything that you believe will give better back and forward testing results, therefore, creating a more successful expert.

* This is my second attempt to have a successful expert advisor created.  My goal is to have an expert created that truly works well and gives results close to "autochartist.com" (which tracks the patterns success).

  The "autochartist.com" pattern success rates are as follows:

Double Top                              = 77%

Double Bottom                        = 83%

Head and Shoulders                 = 85%

Inverse Head and Shoulders     = 83%

Triple Top                               = 100% (infrequent occurrence)

Triple Bottom                         = Impress me  :)   ( very rare occurrence)

* The payment for the development of this Expert is negotiable to all developers. Please indicate your required payment.

* Payment will be transferred after a successful program is developed with similar results as described above.

*  I already have a Double Top/Bottom expert that works but does not give the desired results.  The Expert Advisor for that attempt is available upon request. 

*  Please bid if you are confident that you can achieve the above results. 

Thanks so much for your time!