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Rules
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Specification
Hi Arash
Here is the new project.
I have added the consecutive candles indicator and the volume and volatility update indicator. The others are in MT4.
I have added the settings for the indicators if they are not default.
Chris
Plans for EA
For a trade we first need Williams %R to go above -20 line or below -80 line.
Then we need the consecutive candle indi. to print an arrow in our desired direction (if we are below the -80 line we look for an up arrow, above -20 line we look for a down arrow).
Then we need the indi. to print a candle with a dot.
For this to be a valid signal we need 3 things.
1/ Williams % to now move below -20 line or above -80.
2/ Williams % to be below the 55ema (set to first indicator data) for a sell or above the 55ema for a buy.
3/ Volume/volatility indicator is yellow or green (grey=no trade).
If all the above is met we can trade in the desired direction.
Options for EA
Slippage/Spread --user defined.
Option for position sizes for different TFs (eg: 15 min 0.05, 30 min 0.04, 1 hr 0.03…).
Ability to put on different TF for same pair.
Option for SL; above last arrow, $amount, %of account or # of pips.
Able to set closing a single trade if-- in “X” negative pips, $amount or %of account.
Close @ cross of opposite -20/-80 line on closed candle.
Factor in the nuances discussed in first post...as follows;
There are some nuances to the confirmations...If we get a signal to trade but the volume/volatility indicator does not agree we can still take the trade if another candle with a dot prints and volume now agrees. This is a valid signal as long as an opposite arrow does not show up. If it does then we do not trade. We must then wait for a full re-confirmation from all indicators. See below;
1/ Williams %R goes below -80 line
2/ Trade to buy is confirmed by all indis. but volume bar is grey (no trade).
3/ An opposite arrow prints...now we wait for a whole new set up.
4-5/ A whole new buy is confirmed but again volume is grey (no trade).
6/ Another opposite arrow prints...now we wait for a whole new set up.
7-8/ A whole new set up is confirmed and this time the volume bar is yellow/green...so a buy trade is executed.
9/ Exit trade after close of first bar where Williams %R is above -20 line.
Another nuance is when the confirmation candle closes and Williams%R is already above/below the -20/-80 lines, then there is no trade.
