All orders
Rules
Specification
My system includes 5 indicators. Here are the rules:
Indicators:
ATR
Trend Strength indicator
Waddah Attar Explosion
Keltner Channel
Bollinger bands stop
** THE EA SHOULD NOT REQUIRE THESE INDICATORS IN INDICATORS FOLDER TO RUN **
Use 2% of account per trade (default setting, but should be able to adjust in inputs)
ONE candle rule: Wait one candle after confirmations for indicators to catch up (i.e. wait for close of current candle after all conditions are met)
Stop loss:
1X ATR for SL
1X ATR for TP1. If this is reached, close half of the position then move SL to breakeven, and activate trailing stop 1.5x ATR (leave trade running)
1.5X ATR TP 2, close 25% of the remaining position
BUY:
Confirmation 1:
Coral trend indicator shows price bar is green (uptrend)
Price has to close within the bands in order for the trade to be valid. If price is outside of the bands then wait 1 more candle to see if it closes (pull back)within the bands, if it does then take the trade (valid pullback entry). If it does not, no trade taken, set up Is invalidated
Confirmation 2:
Trend strength indicator has to show a green bar
Confirmation 3 (volume indicator):
Waddah Attar indicator has to be green and above the move average line (explosion line)
SELL:
Confirmation 1:
Coral trend indicator shows price bar is red (down trend)
Price has to close within the bands in order for the trade to be valid. If price is outside of the bands then wait 1 more candle to see if it closes within the bands, if it does then take the trade (valid pullback entry). If it does not, no trade taken, set up Is invalidated
Confirmation 2:
Trend strength indicator has to show a red bar
Confirmation 3 (volume indicator):
Waddah Attar indicator has to be red and above the move average line (explosion line)
Exit strategy:
2 options in inputs:
1 - Trail stop. Keep the stop loss trailing until it hits the SL
2 - Bollinger bands stop loss. If the Bollinger band stop loss changes colour (i.e. for buy, changes from blue to red) then close the trade.
Please use my settings for the indicators (I will provide you with the inputs)