Job finished
Specification
Hello
I need to create an Indicator that gives Buy/Sell signals depending on 4 conditions.
But before we go into the conditions there is a few points to know:
first of all there is an attached indicators that is taken into consideration in 2 of the four conditions
second : 2 of the conditions are on a time frame " lets call it the main time frame" , and the other 2 conditions are in the time frame just below it "lets call it the secondary time frame" and both by their names I need them to be in the indicator's settings as options I can modify let's say I make the main time frame as weekly and the secondary time frame as daily so this fixes the signals no matter how I change the time frame on the chart
Now lets get into the 4 conditions and for explanation I will use a sell signal
First: on the main time frame the indicator is red indicating a bearish price activity
Second: A candlestick closes with it's CLOSE lower than the lows of the preceding 3 candlesticks which is the first candlestick to close like this within the bearish wave
Now the 2 conditions on the "secondary time frame"
First : the indicator activity on the secondary or lower time frame in the 2 waves just preceding the candle close on the main time frame makes two lower highs and the indicator is currently red as well
second : the price action related to those two waves on the indicator is also showing lower highs
So to summarize:
the candle stick on the MAIN time frame must close fulfilling the 4 conditions for a sell signal to be posted with the opening of the following candle
if the conditions of the MAIN time frame are fulfilled and any of the other two is not then the whole bearish wave on the Main time frame is discarded
only one signal on the bearish wave on the main time frame is counted either fulfilling all the conditions or failing and discarded
all the previous explanation is the opposite with the bullish buy signals
I do not need to have the original indicator please incorporate it in the programming of the new one
Finally I need to program an EA based on that with the options to control the Main time frame, the Secondary time frame , the Lot size and stop loss is the last highest price on the secondary time frame related to the blue area of the indicator activity and the ability to add or subtracts pips manually from that and the take profit, where the take profit is 1:1 to the stop loss