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My strategy I’m looking to turn into code.
Trading Instrument - Crude Oil Futures (CL) Chart and Timeframe - 30-second chart Entry Setup
1. Time Focus on the first 30-second candle after 11:00: 00 AM New York time. (11:00: 00 candle)
2. Candle Size Limit : Skip the trade if the first candle is greater than 10 points.
3. Entry Orders - Place stop orders at the high and low of the first 30-second candle after 11:00:00.
- Long Entry: If the price breaks the high of the candle, trigger a long position.
- Short Entry: If the price breaks the low of the candle, trigger a short position.
Take Profit Targets
1. First Take Profit (TP1)
- Set the first take profit at the length of the entry candle (candle range from high to low).
- Close half the position once TP1 is hit.
2. Second Take Profit (TP2)
- Set the second take profit at 2 times the length of the entry candle.
- Close the remaining position at TP2.
Stop Loss
- The stop loss is placed at the opposite end of the entry candle:
- For a long trade: Stop loss is set at the low of the entry candle.
- For a short trade: Stop loss is set at the high of the entry candle.
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