Job finished
![](https://c.mql5.com/i/avatar/avatar_na2.png)
![](https://c.mql5.com/i/avatar/avatar_na2.png)
Specification
INTRO
The purpose of this job is to create an EA based on Larry Williams' Smash Day. This pattern suggests that the current impulse of the price movement has a higher possibility of a reversal after closing above/below the last extremes. Such a trading day is called "Smash" (or reversal) because it precedes a change in the current price direction. When such a day forms, the market leaps up-or downwards, closing behind the previous highs/lows. At this moment, all the traders who were late attempt to enter, counting on the continuation of the movement. However, the price could retrace and form a Smash Day reversal pattern.
LONG TRADE:
This is a day of increased volatility in a descending price movement that closes below the low of the previous session and is also the lowest close for a set number of days (default is 8). Place a buy stop order such that, if the price moves in the opposite direction and takes out the high of the Smash Day, a long position is opened with a stop loss a set number of pips below the low of the Smash Day (default is 10).
SHORT TRADE:
This reversal pattern also forms from a day of increased volatility on the market — this time in an ascending price movement. The day closes above the previous high and higher than the highs of the previous 8 days. Place the sell stop order so if the price takes out the low of the Smash Day, a short position is opened with a stop loss 10 pips above the high of the Smash Day.
LONG SHORT EXITS
There are three possible exit strategies that need to be included:
1. First profitable close - after the close of the first profitable day, exit at the open of the next day.
2. Set number of days - exit after a set number of days irrespective of whether in profit or not (default is 8).
3. Profit target – exit at a multiple of the stop loss (default is 2 x SL).
ADDITIONAL CONSIDERATIONS
- The default period of time that the EA waits within the range of the Smash Day for a break is 1 day.
- Only one trade at a time is allowed.
ADDITIONAL REQUIREMENTS
- Both the ex5 and mq5 files need to be delivered.
- All the parameters mentioned above need to be configurable from the Inputs page to allow for optimization.
ADDITIONAL CONFIGURATIONS
Time Configuration
- GMT Mode
- Manual GMT
- Auto GMT
- Manual GMT Offset
- Monday Trade
- Tuesday Trade
- Wednesday Trade
- Thursday Trade
- Friday Trade
Lot Management
- Lots Type
- Equity Percentage
- Fixed Lotsize
- Lots Base on XBalance
- Equity Percent
- Fixed Lots
- XBalance
- Lotsize per XBalance
- Max Lots
Basic EA Configurations
- Magic number
- Trade Comment
- Max Spread
- Max Slippage