For the calculation purposes, the Candle calculation should be taken from the Current Chart , the EA is attached. ( i.e 5 minute chart, 10 minute chart... all have their own calculations for the EA based on the chart timing )
EA must have schedule time for start and stop .
Lot size for the entry is a variable .
- The last 3 candles from the chart must be considered for taking Buy or Sell trades .
-Trade entry after 2 consecutive candles in the same direction .
-Order for entry must be placed at the closing of 2nd consecutive candle low or high .
-SL on the H/L of the previous candle.
-TP should be calculated by taking the high and the low of previous 3 candles adding them and taking their average pip for TP.
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For Buy Trade
- The previous two candles must be green .( Closing is higher than their openings).
- The entry of the trade on current candle at the high of the previous candle.
- At the close of the current candle,if the order is not filled, it must be cancelled provided if the current candle closed low .
For Sell Trade
- The previous two candles must be Red .( Closing is lower than their openings).
- The entry of the trade on current candle at the high of the previous candle.
- At the close of the current candle,if the order is not filled, it must be cancelled provided if the current candle closed High .
*****************************************************************************************
SL Trail Formula
Lets suppose trade is taking on candle "A: ,and the subsequent candle is candle "B".
For Sell trade SL trail.
1- If the subsequent candle B closes below the closing price of Candle A, then
Move SL to the entry price of the trade.
2- If the subsequent candle B closes Above the closing price of the Candle A, then
Move the SL to the high of the candle A
For Buy trade SL trail.
1- If the subsequent candle B closes above the closing price of Candle A, then
Move SL to the entry price of the trade.
2- If the subsequent candle B closes below the closing price of the Candle A, then
Move the SL to the low of the candle A
************************************************************************************************************************************
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