All orders
Rules
Specification
(I think an easier way to go about this if possible would be to edit from then TPA Focus file.
Fix the SL issue as sometimes the EA removes the SL.
Remove the lot size input to add a risk to reward input instead.
Allow for a trend and entry timeframe in the input as explained in the specs.
You'd also add in the option for TPs by the exact way the ENTRY/SLs already work just for exit. as explained in the specs
Youd change the trailing stop feature to work not by pips but by risk to reward gained.
and last: When else to Close Trades: trades should be closed 1 hour before Friday, the weekend market closes. Trades are closed IF the current weekly candle is not the same trend bias as last week's candle and previous trend, the weekly candle is changing)
Just changing 6 things with the TPA Focus
An EA based on support and resistance
Functions:
* Minimum Risk to reward: “3” means Risk 1 for Reward of 3. Risk 1 is default so the # input will be the minimum risk to reward used to take a trade.
* Use SR TP: In long trades use any SR box above as a TP as long as it also meets the minimum Risk to reward ratio. In short trades use any SR box below as a TP as long as it also meets the minimum Risk to reward ratio.
* Trend Time Frame: It is this timeframe that will give the bias for trades taken on the entry time frame. If the trend time frame closed bullish, for the following candle all entries from the lower time frame will be long trades, and vis versa. In the inputs allow for a timeframe to be chosen ie: 1M, 1W, 1D, 4H…
* Entry time frame: It is this timeframe that all trades will be taken on. If the trend time frame is set to 1W and the entry to 1H, the 1H entries would follow according to the last 1W closed candle (bullish close=long entries and same for shorts). In the inputs allow for a timeframe to be chosen ie: 1M, 1W, 1D, 4H…
* Support & Resistance: Drawn by the MT4 box tool. ALL stop losses are to be placed on the other side of the S/R box that triggered the entry while also following the Position size Calculator. (Kinda same like the TPA SR EA below)
* Breakout entries: Trades are taken on the closed candle of the entry time frame where a candle opens on one side of the box tool and closes on the other side, thus a breakout. 1 candle entry.
* Reversal entries: Trades are taken on the closed candle of the entry time frame where a candle opens on one side of the box tool, interacts with the SR box and still closes on the same side, thus a reversal at the SR box. This is a 2 candle entry; Long entries must have a bearish candle + a rejecting bullish candle from the SR, Short entries must have a bullish candle + a rejecting candle from the SR acting resistance would be due to the trend time frame.
* Filter: (an exception to the REVERSAL ENTRIES) Takes place in 1 candle instead. Trades are taken on the closed candle of the entry time frame where a candle opens on one side of the box tool, interacts with the SR box and still closes on the same side, thus a 1 candle reversal at the SR box. This is a 1 candle entry; Long entries must have an INTERACTION with the SR box and close at a less than “50%” (changeable % in input just like TPA SR EA) of the entire candles size, thus a 1 candle reversal at the SR box.
* Multiple Positions: The ability to choose to have only 1 trade per chart or multiple trades on 1 chart BUT ONLY 1 trade per indivual SR box
* Trail by Risk to reward: Move/Trail SL by the profit gained according to the SL (Risk to reward). I.e If 4R is reached move SL to +1R.
* When else to Close trades: trades should be closed 1 hour before Friday, the weekend market closes. Trades are closed IF the current weekly candle is not the same trend bias as last week's candle and previous trend, the weekly candle is changing.
* - I would also like to add that this ea is to work the same way no matter the chart timeframe it is set on.
+ SL is at the candle low for longs and candle high for short positions + 4 pips for spread (added)
Inputs:
* Minimum Risk to reward: “3”
* Use SR TP: TRUE/FALSE
* Trend Time Frame
* Entry time frame
* Breakout entries: TRUE/FALSE
* Reversal entries: TRUE/FALSE
* Filter: 50%
* Multiple Positions: TRUE/FALSE
* Trail by Risk to reward: TRUE/FALSE
* Every “2R”
* Move SL “0.5R”