All orders
Rules
Specification
Hello,
I want to Develop the following EA that has the following functions:
I. Indicator of Decision Points (DP).
a. I (the trader) note the KEY LEVELS on the chart with a certain colour / name/ line type - what ever is easiest for you to run with BUT they have a finite length and as long as they are drawn i want the EA to draw their Decision Points
The EA must be able to go from a certain date in the past of my choosing ( variable parameter) on 2 3 different time frames of my choosing ( (ex: H4 / M15 / M1)) and draw a rectangle (with the colour of my choosing ) around the *Decision Points that aligns with my Key Level untill price breaks it.
An Aggressive Decision Point (ADP) is a Closed Candle that has the Key Level crossing through it or a "swing" that crosses over the level.( Pics Attached - Candle Decision Point ) or a "RBR/DBD" type of formation that goes beyond the Candle if price fakes it before going forward.
A Conservative Decision Point is an ADP from a higher Time Frame ( pics atached - Conservative Decision Point) . A Decision Point can be drawn only when price has closed the Candle that crosses it and it breaks the previous DP that was present at the level.
Every time price crosses again over my key level ( as long as the key level exists) a new decision point is drawn.Here we have the case of the Flipped Decision Point. where price crosses my level again in the opposite direction, breaks the Decision point to the Left
These parameters should be set in the description of the object.
- set a sniff parameter- if price comes closer than x (where x is a definable) pips and makes a move that is at least the size of the DP - wait for the *FlipDP parameter
- set a Times Back parameter (TB - see pics attached) ) ( preferably in the description of the DP - so if price comes back to the DP and touches it but it does not cross it -
- set a Departure Parameter i define manually : Fixed number of pips and or number of candles and or based on ATR and or 1-2-3 times the size of the DP
-set a Perfect Touch Parameter (if the key level has a perfect touch ( see pic attached) add in it's description PT
A Flipped DP becomes trade-able DP when
-price has moved away from it at least Y pips ( where Y is a parameter i define manually : Fixed number of pips and or number of candles and or based on ATR and or 1-2-3 times the size of the DP )
-has broken the DP to the left (here i need a parameter to chose between Agressive and Conservative Decision point that needs to be broken)
II) Trading the Decision Points drawn by the indicator part of the EA
a) trade the DP
If a DP has No Sniff & zTB( z- definable parameter- zero, one and two times back ) and no PT & don't wait for the FlipDP parameter than trade it with a pre-defined position size ( % of balance )
Closing the trade partially - at a fixed number of pips and or number of candles and or based on ATR and or 1-2-3 times the size of the DP
The size of the Partial Close can be calculated either as a % of the position or using the following formula: close as much partially at the first target so if price hits initial SL then the trade is on Break even or at BE + 1
At first before running it live i will run it on strategy builder.
Future Stages of improvement will come and i want to develop a long term working partnership with the developer.
If you have any questions please don't hesitate to contact me.
O will need the source code.
Thank you,
E.