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Rules
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Specification
This “P7” EA will be used to trade using Renko Charts
The zigzag indicator will be used to draw trend lines on the offline renko charts
The renkobar plugin will be used to generate the renko charts
All entries and exits can be enabled or disabled (toggled on and off) (true or false)
Entry1 will be made on the breakout of the trend lines either above (buy) or below (sell)
The breakout trade (entry1) will need to be X-pips above or below trend line value to make an entry.
Entry2 will be made when the price gets within X pips of the Trend line and will be for range bound markets and will open a sell trade near the upper trend line and buy trade near the lower trend line.
Range trades will be a max of one at a time and will close on the opposite signal or the SL
SL BE TP and TSL will be set by inputs for individual trades
SL is in pips – TP is in pips – TSL is in pips with a start value, a step value and a trail by value.
max simultaneous trades will be an input
under max trades an input to set the minimum pips away from the last trade before the next trade can be opened.
Trading start and stop hours/minutes and days function
Days will be traded days 1,2,3,4,5
Action choices on reaching stop trading time close all trades – stop opening new trades
Money Management function to be able to change lot size when the account equity has grown
The account balance will be in dollars, the lot size will be calculated assuming $1 per 0.1 lot
There will be a minimum lot size
A maximum lot size
Input for a step value for the growth of the lot size
Input for a ratio figure – pot size divided by ratio figure will be the lot size rounded down to nearest step size.
An Equity management EA may be used on a separate chart to control the equity closes and other global functions.
Global Equity functions TP BE SL TSL
Above functions to be set by pips or Percentage of the pot
BE will have start value and locked in pips or % so if it triggers at 10 pips it might not be set to 0 pips loss – it might be set to 1 or 2 pips to cover commissions.
Action on the above is to - close all trades on all EA's
TS have start value step value and a trail by value
The zigzag indicator’s parameters to be changeable from within the EA