Make a Price Action EA

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TMT strategy is to catch the higher high / lower low pull back situation during a big trend.


https://www.forexfactory.com/showthread.php?t=912456

 

Buy stop order:

==============

1) Confirmation of UPTREND (MA 7 line is above MA 20 line),

2) Daily candle >50,

3) MFI >50,

4) RSI >50,

5) After the candle price has pull back, moved inside EMA 7 & 20 line, and closed (ref: "example 1.png"),

6) Draw trendline immediately,

- Trendline joint 1 and joint 2 points must consist of the previous e.g. 2 - 30 candles, that before the pull back candle,

- It may not able to find joint 1 and 2 points sometimes, then dont draw trendline (ref: "example 2.png"),

- If cannot draw trendline, restart condition checking from 1) again,

7) Wait until new candle price breaks ABOVE trendline, and closed,

8) Place buy stop order immediately at closed candle price + XXX pips (ref: "Entry Buffer Pips (for the buy/sell)" at Inputs).

 

Conclusion:

==========

It should determine condition 1 - 5 first, then only proceed to draw the trendline (condition 6), then place buy stop order immediately (condition 7 - 8).

 

 

Sell stop order:

===============

 

1) Confirmation of DOWNTREND (MA 7 line is below MA 20 line),

2) Daily candle <50,

3) MFI <50,

4) RSI <50,

5) After the candle price has pull back, moved inside EMA 7 & 20 line, and closed (ref: "example 1.png"),

6) Draw trendline immediately,

- Trendline joint 1 and joint 2 points must consist of the previous e.g. 2 - 30 candles, that before the pull back candle,

- It may not able to find joint 1 and 2 points sometimes, then dont draw trendline (ref: "example 2.png"),

- If cannot draw trendline, restart condition checking from 1) again,

7) Wait until new candle price breaks BELOW trendline, and closed,

8) Place buy stop order immediately at closed candle price + XXX pips (ref: "Entry Buffer Pips (for the buy/sell)" at Inputs).

 

Conclusion:

==========

It should determine condition 1 - 5 first, then only proceed to draw the trendline (condition 6), then place buy stop order immediately (condition 7 - 8).

 

 

INPUTS PARAMETERS

 

                                                                           === DAILY CANDLE ===

Enable Daily Candle                                       true/false

Positive Green                                                 To Buy (this is not input, just explanation)

Negative Red                                                  To Sell (this is not input, just explanation)

 

                                                                           === RSI ===

Enable RSI filter                                              true/false

RSI Period                                                        8

RSI Value to buy                                             70

RSI Value to sell                                              30

 

                                                                           === MFI ===

Enable MFI Filter                                            true/false

MFI Period                                                       15

MFI Value to buy                                            70

MFI Value to sell                                            30

 

                                                                           === EMA ===

Enable MA Filter                                            true/false

MA1 Period                                                     7

MA2 Period                                                     20

MA Method                                                     EMA

MA Apply To                                                   Close

 

                                                                           === MONEY MANAGEMENT ===

Money Management Model                       Risk / Fixed Lot

Risk Percent                                                    1

Fixed Lot Size                                                  0.01

SL in Pips                                                          30 (if SL risk = 1%, 30 pips = 1%)

TP in Pips                                                          30 (if SL risk = 1% = 30 pips, TP 30 pips = 1%)

Entry Buffer Pips (For Stop Orders)           5

 

                                                                           === TRAILING STOP ===

Use Trailing Stop                                            true / false

Trailing Stop Trigger in Pips                         15

Move to Breakeven + XX Pips                     5

Trailing Stepping in Pips                               3

 

                                                                           === GENERAL ===           

Hour Start                                                        00:00:00

Hour End                                                          23:59:59

Pending Order Expiry Minutes                    600

Magic Number                                                23382338

Comment                                                         TMT

 

                                                                           === TRENDLINE ===

Draw Trendline                                                                             true/false

Max Candles to Search for Trendline Joint Points                              50

Min Trendline Slope                                                                    20 (to open pending orders)

Max Trendline Slope                                                                   60

Min Trendline Candle Joint Point #2 Distance from Pull Back Candle          2

Min Candle distance for Trendline Joint Point #1 & #2                                    5

Trendline Color                                                                            XXX

Trendline Width                                                                           2

                                                                                         

 

 

 

On the Chart:

=============

1) Successful buy order - blue dot color.

2) Successful sell order - red dot color.

3) Closed orders - dot line link from order price to closed price.

4) If stop orders cancelled (by either new conditions met cancellation, or specific time expiry), leave a short red horizontal line on chart to indicate there was an cancelled order.

 

 

Other Conditions:

===============

1)     Only 1 buy/sell stop order for each pair & chart. If new conditions met, cancel previous order, and place new order.


파일:

PNG
example_1.png
169.1 Kb
PNG
example_2.png
146.1 Kb

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