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Rules
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Specification
Pin Bar Trading EA
Specification:
Trade on multiple timeframes (option to choose!)
Clean graphics, no indicators!
Entry signal: formation of a pin-bar at the end of a short-term or medium-term trend.
The signal is valid after the end of the tape, not inside it!
Bullish pin bar: A candle whose lower tail is at least ¾ of the size of the candle, referred to below as a signal bar.
Bearish pin bar: A candle whose upper tail is at least ¾ of the size of the candle, referred to below as a signal bar.
Trade signal:
Buy signal:
Bullish Pin-Bar Formation:
If the bar is green, then its lowest value must be lower than or equal to the lowest value of the last 10 (this must be a variable value) bar, and its opening price, must be equal to or lower than the closing price of the last 10 (this must be a variable value) bars.
If the bar is red, then its lowest value must be lower than or equal to the lowest value of the last 10 (this must be a variable value) bar, and its closing price must be equal to or greater than -low of the closing price of the last 10 (this should be a variable value) bars.
Sell signal:
Bearish pin-bar formation.
If the bar is green, then its highest value must be greater than or equal to the highest value of the last 10 (this must be a variable value) bar, and its closing price, must be equal to or higher than the closing price of the last 10 (this must be a variable value) bars.
If the bar is red, then its highest value must be greater than or equal to the highest value of the last 10 (this must be a variable value) bar, and its opening price, must be equal to or higher than the closing price of the last 10 (this must be a variable value) bars.
Trade and parameters:
Buy:
After the formation of a bullish pin bar, the EA will open a “Buy” position when the askline touches the closing price of the signal bar ( ie, the entry price must be equal to or lower than the closing price of the signal bar).
The price for TP is formed by adding to the closing price of the signal bar the size of its lower tail in points, multiplied by x1, x2, x3, etc. (this should be a variable value) added to the closing price of the signal bar.
The SL is not placed, and the EA should close the position automatically when there is a close of a candle below the lowest price of the signal bar.
If the TP is reached before the position is opened, the signal is considered invalid.
Sell:
After the formation of a bearish pin bar, the EA will open a “Sell” position when the bidline touches the closing price of the signal bar ( ie, the entry price must be equal to or higher than the closing price of the signal bar).
The price for TP is formed by subtracting from the closing price of the signal bar the amount of its upper tail in points multiplied by x1,x2,x3, etc. (this should be a variable value).
The SL is not placed, and the EA should close the position automatically when there is a close of a candle above the highest price of the signal bar.
If the TP is reached before the position is opened, the signal is considered invalid.
In case there is an entry signal on more than one time frame at the same time, the higher one takes priority!
An open position can be closed only in the following cases:
1.TP price has been hit.
2. The above conditions for SL have been met .
3. A reverse pin-bar is formed, regardless of its location. When there is an open position, the appearance of a reverse pin-bar on a lower time frame does not affect the trade and is ignored as a signal!
There cannot be more than one open position for each currency pair!
MM:
Fixed lot size.
Risk % of the balance, but not less than 0.01
Lot size 0.01(variable) every $100 but not less than 0.01
Risk % for all positions simultaneously
Max. spread
PS When trading indices, the minimum trading volume with my broker is 0.1 or 1 lot. If the EA is set to give signals with a volume of 0.01, 0.02, 1.28, etc., then the EA will probably give an invalid volume. That's why EA should be able to trade indices too!
Before making the payment, in addition to the finished product, the source code must also be provided to me!