Spécifications
The TradingView Indicator to be cloned is :Range filter [DW] & Labels indicator : title="Range Filter [DW] & Labels", shorttitle="RF [DW] & Labels"
The requirement is to develop the same Indicator with same variables and same outcome for MT5 and build an MT5 EA to do the following:
A: The indicator plot BUY on the chart: ( wait until the candle closed with BUY Arrow on the chart, sometimes the BUY arrow appear then disappear if price reverse back.)
1. Take 2 Buy orders at the close of the triggered candle
2. Order 1 with fixed TP1 and second order run until the indicator plot SELL.
3. When TP1 hit put SL of Order 2 at entry.
4. SL for both orders ( BUY1 and BUY2) to be multiplier of ATR with minimum SL value( example it ATR multiplier gives 20 pips SL and the minimum SL value is 30 then SL=30 )
5. If BUY orders are running and a SELL signal appears close both BUY orders in Profit or Loss and execute New SELL Orders.
6. lot size to be calculated with proper risk management with maximum risk per trade of equity/balance
B: The indicator plot SELL on the chart : ( wait until the candle closed with SELL Arrow on the chart, sometimes the SELL arrow appear then disappear if price reverse back.)
1. Take 2 SELL orders at the close of the triggered candle
2. Order 1 with fixed TP1 and second order run until the indicator plot BUY.
3. When TP1 hit put SL of Order 2 at entry.
4. SL for both orders ( SELL1 and SELL2) to be multiplier of ATR with minimum SL value( example it ATR multiplier gives 20 pips and the minimum SL value is 30 then SL=30 )
5. If SELL orders are running and a BUY signal appears close both SELL orders in Profit or Loss and execute New BUY Orders.
6. lot size to be calculated with proper risk management with maximum risk per trade of equity/balance