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Specification
I would like to get an expert advisor for the method that I use in my discretionary trading. The method requirements are explained below:
1) There is a trend
2) The price hasn't been testing the 20 EMA for more than 5 bars. Option to be chosen.
3) The price has been far from EMA (for DAX - 10-20 points from EMA). [Option "points from EMA" to be chosen]
4) If the bear trend takes place, the bar prior to the signal bar OR the signal bar itself formed a tail at the bottom. The tail should be present at either the bar or two prior to the signal bar or at the signal bar itself. This is important.
5) If the bear trend takes place, the signal bar closes at or near its high.
6) The entry price is at the close of the signal bar
7) Stop-loss is to be set at the low of the recent biggest tail (in practice, this is usually the last major swing low).
8) Take Profit is to be set at the distance measured from the stop-loss-to-entry distance. E.g. TP = 3times SL distance or TP = 4times SL distance from entry.
9) And vice versa for bull trends.
10) The expert advisor has to be applicable for trading DAX (GER30) market.
11) It should be possible to take only 1 trade at a time with the EA
12) The spread and trading time should be choosable. Thus, the method is only effective during the first 2 hours after the London Open and the US Open, respectively.
I am attaching several screenshots with the trade examples. On the screenshots my stop-loss level is marked as 0, while my entry point is marked as 1. I hope that can help.
I tried to explain it in the simplest terms. Please consider it and give me the answer on whether an algorithm for such a manual-based can be coded. If executed manually, the method is profitable. Therefore, an expert advisor has to be backtested upon the completion and demonstrate profitable performance as well
