Job finished
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Specification
RENKO CHARTS
INDICATORS:
SPECIAL MOVING AVERAGE 1 (MA1) (PROVIDED) BIGGER VALUE
SPECIAL MOVING AVERAGE 2 (MA2) (PROVIDED) SMALLER VALUE
MA 1 ACTS AS A FILTER: ABOVE IT ONLY LONG TRADES, BELOW IT ONLY SHORTS TRADES.
INITIAL TRADES:
INITIAL ENTRY LONG:
MA2 CROSSES ABOVE MA1 AND A UP RENKO BRICK CLOSES ABOVE BOTH MAs (50% OR MORE OF THE BRICK BODY MUST BE ABOVE)
EA GOES LONG 2 LOTS
TP1: XX (INPUT) RENKO BARS
TP2: 2 OPTIONS:
OPTION 1) TP XX (INPUT) RENKO BARS
OPTION 2) TP OPEN, TRADE CLOSES WHEN A BRICK IN CONTRARY DIRECTION IS CLOSED
INITIAL ENTRY SHORT:
MA2 CROSSES BELOW MA1 AND A DOWN RENKO BRICK CLOSES BELOW BOTH MAs (50% OR MORE OF THE BRICK BODY MUST BE BELOW)
EA GOES SHORT 2 LOTS
TP1: XX (INPUT) RENKO BARS
TP2: 2 OPTIONS:
OPTION 1) TP XX (INPUT) RENKO BARS
OPTION 2) TP OPEN, TRADE CLOSES WHEN A BRICK IN CONTRARY DIRECTION IS CLOSED
FOLLOWING TRADES IN THE SAME DIRECTION (SAME POSITION REGARDING MA1):
NO MA CROSS NEEDED.
LONG
EA MUST GO LONG AFTER AN UP BRICK CLOSES IF BRICKS ARE ABOVE MA1
SHORT
EA MUST GO SHORT AFTER A DOWN BRICK CLOSES IF BRICKS ARE BELOW MA 1
STOP LOSSES
SL1: WHEN A BRICK IN CONTRARY DIRECTION IS CLOSED
WHEN TP1 IS REACHED A TRAILING STOP OF XX PIPS(INPUT) (NO RENKO BARS) IS ALSO RELEASED
FILTER FOR REENTRY:
NO REENTRY FOLLOWING TRADES) AFTER + XX PIPS IN THE SAME DIRECTION