A Simple Key Hour and Doji at Swings trading Bot Needed

KEY HOURS AND REVERSAL CANDLE TRADING STRATEGY

This strategy believes that at the beginning of every 4hr candle which can clearly be seen at hourly candles, a reversal candle can be spotted which can give good market entry opportunities.

The setting for this strategy is the 1 hr chart.

The reversal candles to spot are all types of Doji and Spinning Tops

KEY HOURS TO LOOK FOR REVERSAL CANDLES (SERVER TIME)

1)    3.00 – 5.00

2)    7.00 – 9.00

3)    11.00 – 13.00

4)    15.00 – 17.00

5)    19.00 – 21.00

CHART FORMATION RULES

FOR SELL SETUP

1.      There must be a previous higher or Senior swing

2.      The present swing or Junior swing must have a reversal candle at the tip of the swing (doji/spinning top)

3.      The reversal candle must reject on a support or resistant tool like the barrydots used on the charts in samples below

4.      The candle before the reversal candle when marked with a vertical line falls on Overbought region of CCI

5.      Once 1 – 4 have played out, take an instant order when market has moved by 4 pips in SELL direction.

6.      Set Stop Loss 5 pips above the high of the reversal candle (make it a variable setting for user)

7.      Set Take Profit based on the profit target of the robot user

8.      Set percentage of capital to risk. Risk must be equal to stop loss tolerance.

FOR BUY SETUP

1.      There must be a previous Lower or Senior swing

2.      The present swing or Junior swing must have a reversal candle at the tip of the swing (doji/spinning top)

3.      The reversal candle must reject on a support or resistant tool like the barrydots used on the charts below

4.      The candle before the reversal candle when marked with a vertical line falls on Oversold region of CCI

5.      Once 1 – 4 have played out, take an instant order when market has moved by 4 pips in BUY direction.

6.      Set Stop Loss 5 pips below  the low of the reversal candle (make it variable setting for user)

7.      Set Take Profit based on the profit target of the robot user

8.      Set percentage of capital to risk. Risk must be equal to stop loss tolerance.

ALL these rules can be found on the charts below as samples. It played out and the market responded 75%.

All positive setups were capable of giving at least a 1 : 3 return on risk . 

CCI, ZIGZAG and a custom indicator for resistant and support (barry) was used for this robot. I would send you the settings when we get started.

See sample charts attached. 3 succesful setup and 1 failed setup.

More details would be given upon selection.