Pips Reversal EA

Definition for Buy Trades:

1.   LL2 - Lowest low of past five days

2.   LL5 - lowest low of past five days

3.   LL40 - lowest low of past 40 days

4.   LH5- Lowest high of past five days 

5.   ATR (20)= Average True Range of past 20 days

6.   Swing Low= A low at least with two higher lows than the swing low day low , and two higher highs than the swing low day high on both side of the swing low day.

Setup Rules : -  

A.  LL5=LL40 (point3)

B,  Point 3 Low< a swing low (point 1)

C.  LH5 > Point 1 Low - 1 ATR(20).

D.  5 Exponential moving average turns up.

E.  Setup day close < 18 day moving average

Entry and Exit Rules:-

Entry Order: Buy at the Market

Initial Stop : Sell at point 3 low Stop Close only 

Follow up Stop: Sell at LL2*0.999 Stop

Profit Target Exit: Exit 1/2 position at entry Price + 1 ATR(20) Limit

Definition For Sell Trade :

1.  HH2= Highest high of past 2 Days

2.  HH5 =  Highest high of past 5 days

3.   HH40= Highest high of past 40 Days

4.   HL5= Highest low of past 5 days

5. ATR(20)= Average True Range of the past 20 days.

6. Swing High= Any high with at least 2 lower highs than the swing high day high  and 2 lower lows than the swing high day low on both side of the swing High day.

Setup Rules for Sell Trade:

A.  HH5=HH40 (Point3)

B.  Point 3 High > a swing high (point 1)

C.  HL5 < Point 1 High +1 ATR(20)

D.  5 Exponential moving average turns down

E.  Sep day close > 18 day moving average

Entry and Exit Rules for Sell Trade:

Entry Order: Sell Short at the market

Initial Stop: Buy to cover at the point 3 high stop close only

Follow up Stop: Buy to cover at HH2 *1.001+ spread stop

Profit Target Exit : exit 1/2 position at Entry Price - 1 ATR(20) limit