All orders
Rules
Specification
Hi Please find detail input to Quote a price for EA. Once Developer is identified , i will give more in depth understanding of EA clear chart examples and inputs required.
Position Sizing for Trade:
Position size = ((account value x risk per trade) / pips risked)/ pip value per standard lot
Money Management:
If current account balance is less than x amount of Dollar, do not make a new trade.
Multi charting:
This logic should be working on multiple charts involving all logic across currency pairs at given point in time.
Buy Rule:
Ø When candle is closed above MA 1 ,MA2,GMA (Moving Average)
Ø When Candle is above Previous Trading Zigzag High
Ø Should be Buy Price action candle
Ø Should be bull candle.
Ø Candle should not be long candle
Ø Risk should be greater than X1 pips.
Confirmation Checks:
Ø Trade should be had faced Fibonacci retracement ratio of 50 % or above. FB Retracement should user larger zigzag.
Ø Trade should confirm, there is no lower low trading zig zag for sell or higher high trade zigzag is not available for last x days.
ü Buy Price action candle: Candle which is closed above previous day’s high.
ü Long Candle: Last Candle Average (high-low for bull candle, low – high for bear candle. Average of is taken for n days) should be less than current candle.
ü Risk: pips Distance between initial stop loss and trade point.
Take Profit options
Ø Candle Closed below MA or ATR involved stop or Fibonacci expansion levels or fixed Risk reward ratio – Whichever is first.
ü Risk :Pips between Initial Stop loss and trade starting pips is called Risk
Dynamic Stop loss:
Buy:
Ø When a price action candle is followed by bear candle then last zig zag low is made as stop line, if candle close below stop line, trade is ended.
Recovery System.
Recovery system is responsible to make multiple trades within main trade. It makes one trade per trading swing low and high at max when all following conditions were met. It use same trade position size as main trade.
All inputs and conditions are same as main trade are
Ø After main trade a trading Zig Zag low is made.
Ø Main trade is running, i.e. is not closed.
Ø Candle is not closed in Area of influence
Ø Candle is not bearish pin bar
Ø Candle is not trading above FE level above X5
Ø Maximum number of recovery trade within main trade not exceeded.
Ø Main trade is not confirmation trade. True/False
Profit Booking:
Two option to be developed:
1. 1. Pivot point based profit booking
2. Use same profit booking concept of main trade
Trade closure:
Two method to be developed and one can be choose.
1. 1. Pivot level trade closure. Get user set input pivot level as trade closure point
2. Follow same stop line as main trade.
Other Minor Nice to have in EA
ü Zigzag lines to drawn arrow mark above candle with proper coloring.
General instruction: Follow True/False for all indicator with input values concept to make EA flexible.
**************************Following is nothing to do with trade , just a Visual representation to make easy understand of chat********************************************
Visual Instruction
List of instruction need to be drawn so that charts can be easily read to change automated trading decisions.
Finding Area of Interest (AI):
Concept: use Larger Zig Zag indicator, from current price, draw previous zig zag high candle -low too high in to future price area. Same need to be done for zig zig low candle. As price move these level need to be redrawn.
Candle patterns:
Pin Bar
Inside Bar
indecision Candle
Drawing Levels
Line only need to draw right side , not across chart
Trade info number to be developed displayed in bottom of chart
EA Numbers
Main trade numbers
Recovery trade numbers
Current trade