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Name: KFX_EA
Description:
Time Frames:
| Daily | Directional Bias (Recent Swing High/Low)
|
| Hourly | Entry |
Trading Time:
Currency Pair
Swing High and Low
The type of swing I am using to determine directional bias is the 3 bar swing on the daily time frame.
Swing High
Candle 0 is current, C1 High is less than C2 High and C2 High greater than C3 High
Swing Low
Candle 0 is current, C1 Low is greater than C2 Low and C2 Low is less than C3 Low
Fibonacci Retracement Configuration
| Buy Bias | Description |
Fibo Level: 0
| "High of Asia"
|
Fibo Level: 1
| "Low of Asia"
|
Fibo Level: 2
| "Area of Reversal"
|
| Sell Bias | Description |
Fibo Level: 0
| "Low of Asia"
|
Fibo Level: 1
| "High of Asia"
|
| Fibo Level: 2 | "Area of Reversal" |
The Fibonacci Retracement tool is used to measure the Asia range and project a potential area of reversal. ex, if Asia is 25 Pips the potential area for reversal will be 25 pips which is equal to the size of Asia.
- Hide or Show Fibonacci Tool, external variable
- external Variable to show 0 - 5 days of fib, 0 being current day, if 0 is selected only current day fib will be visible, delete fib at Close of Day
- Retracement should created at the close of 7th Candle, which is 12:00 AM CST or first 8 hrs
Entry Point
Looking at the nearest small quarter point from either the High/Low of Asia will provide the entry. A small quarter point is 25 pips, thus 4 Quarter Points equals 100 pips. To provide an explanation lets start with whole numbers and 25 pips above or below is quarter point. ex, 1.1900 is a whole number, 1.1875 is the small quarter point below and 1.1925 is the small quarter point above.
| Price |
| Fib |
| 1.1950 | Entry "Sell Limit" | Fibo Level 2 |
| 1.1925 | Asia High | Fibo Level 1 |
| 1.1900 | Asia Low | Fibo Level 0 |
| 1.1875 |
|
|
| 1.1850 |
|
|
| Price |
| Fib |
| 1.1950 |
|
|
| 1.1925 |
|
|
| 1.1900 | Asia High | Fibo Level 0 |
| 1.1875 | Asia Low | Fibo Level 1 |
| 1.185 | Entry "Buy Limit" | Fibo Level 2 |
- Add expiration to all pending orders at the time of entry, external variable default 10 hrs from time of entry, if set to 0 no expiration time set on orders.
Risk Management
Take Profit and Stoploss orders will be determined using ATR in confluence with nearest quarter point to ATR value.
ATR D1 value = 30 Pips
| Price |
|
| 1.1925 | Stoploss "1 ATR" |
| 1.1900 | Entry "Sell Limit" |
| 1.1850 | Take Profit "2 ATR" |
Since the ATR value is 30 pips and you take the entry price at 1.1900 the nearest quarter point to the ATR value above entry will be 1.1925. ATR value 30 pips x2 is 60 pips, which would be 1.1860 the nearest quarter point to that value will be 1.1850 the Take Profit.
ATR D1 value = 45 pips
| Price |
|
| 1.1950 | Stoploss |
| 1.1900 | Entry "Sell Limit" |
| 1.1800 | Take Profit |
Since the ATR value is 45 pips and you take the entry price at 1.1900 the nearest quarter point to the ATR value above entry will be 1.1950 . ATR value 45 pips x2 is 90 pips, which would be 1.1800 the nearest quarter point to that value will be 1.1800 the Take Profit.
Step to Determine Entry
- Gather Directional Bias, either Recent Swing/Low formed on D1
- Measure Asia Range at close of H1 candle using Fibonacci Retracement.
- Set Pending Order at the Quarter Point in line with Directional Bias
Responded
Arbitration
301
59%
/
25%
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