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Rules
Job finished
Specification
To make an EA for the indicator FX Power based on the following specifications :
Basic description :
If two dedicated higher TF indicate strong currency (trend), a trade will be opened if the short TF also indicates the strong currency. For example, if NZD is much stronger than JPY on 1D and 3D timeframe, Delta > 3) and the 8H TF also shows the strong trend (delta > 3), the Buy order will be opened. Closing can be done on TP, partial close, trailing or when the 8H TF reverses below certain Delta or 0.
See attached image for sample. I added the same chart 2 times but the indicator shows different image. The upper chart shows strenght in numbers and the lower chart shows the strength in delta (delta is difference between the 2 currency values) If these values are close, this may indicate ranging market. If the delta becomes >3 one currency is obvious stronger than the other one. Therefore trades only need to be opened if one currency is stronger than the other one !
Detailed specifications / conditions:
1) 2 x FX Power TF should indicate the trend / strength. The TF can be determined based on the pair. (In FX power you can select about 10 different TF's)
2) 1 x FX Power with lower TF acts as trigger to open the order.
3) This happens if Delta for all 3 TF's > x (Delta x should be adjustable but in many cases around 2,5 or 3)
4) If first trade is opened, a second pending order should be opened with xx pips aways (adjustable) from first opened order. This one needs to be cancelled if not triggered and original trade is closed.
5) Take Profit should be possible via TP (adjustable xx pips) with Partial Close. Remaining open positions can be handled via Trailing and /or close when the shorter (trigger TF) reverses (Delta drops below 2 or when hits 0, (adjustable)
6) A SL with xx pips should be possible to set as well as Break Even (After hitting TP, move to BE)
Snippets with all details are available
