OMARI CANDLEHEAD
This Ea make orders base on three conditions. These
conditions should follow one another eg,if condition 1 occurs ,ea should wait
for condition 2 to occur and lastly condition 3 to happen before order is
placed. Ea uses two indicators (Stochastic for condition 1, 2 and Trendsignal
for condition 3)
BUY ORDER
Condition 1 :
This when stochastic is in an oversold position on the current time of the open
chart.eg if Ea is open on the 5min chart immediately the 5min chart is in an
oversold position the first condition is meet.
Condition 2: This
is when Ea seeks confirmation of stochastic oversold position from a bigger
time frame (user’s choice of time frame) eg.this is where Ea monitors another
time frame of user’s choice for confirmation of oversold position.
Condition 3: This
where after condition 1 followed by condition 2 has occurred in that order the
last confirmation is from trendsignal.This condition is satisfied when
trendsignal give an upward arrow signal on the chart which Ea is on. The buy
order is made at the opening of the second candle stick after the buy arrow.
SELL ORDER
Condition 1 :
This when stochastic is in an overbought position on the current time of the
open chart.eg if Ea is open on the 5min chart immediately the 5min chart is in
an overbought position the first condition is meet.
Condition 2: This
is when Ea seeks confirmation of stochastic overbought position from a bigger
time frame (user’s choice of time frame) eg. This is where Ea monitors another
time frame of user’s choice for confirmation of overbought position.
Condition 3: This
where after condition 1 followed by condition 2 has occurred in that order the
last confirmation is from trendsignal.This condition is satisfied when
trendsignal give a downward arrow signal on the chart which Ea is on. The buy
order is made at the opening of the second candle stick after the sell arrow.
Other features of EA
1,Ea should have take profit ,stoploss ,trailing stop,
breakeven(breakeven should be in two parts ,profit =0 and take profit move )
2,Ea should have trading time frame, time to start and stop
trade
3,Ea should have daily profit target for the day,
immediately profit target is meet Ea stops trading.
4,Ea should indicate on chat when condition 1 is met
,waiting for condition 2 to happen ,followed by condition 3 before making an
order.
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