The Developer should have a basic understanding of the ichimoku system.
1. 5 indication from ICHIMOKU are used (Discussed Below). Indication should also have Enable/Disable feature.
RSI, MACD and ADX are also used. Each will be set at default setting.
All settings will be made customizable and can be set manually. Each Indication should also have Enable/Disable feature.
2. Default time frame will be set at 15 minutes. All time frames needs to be added.
3. Position Management;
Position size should be set according to that
Lot Size = Risk in $ / Sl in point
Sl in point = Sl in pips x 10
For example. The total equity is 5000. User wants to take the risk of 1% which is 50. The Sl is set to 20 pips which is 200 points. So
Lot Size = 50 /200 = 0.25 Lots
It should have an option of manually entering the risk size. For example; 1% risk, 2% risk and so on.
4. Should have tick boxes to select trading sessions. Trading session (Asia, Europe, USA) or multiple should be selected.
5. Should have fields for HOUR to START and HOUR to STOP so the EA can work within the mentioned times if all three sessions are selected.
6. Need alerts when the positions are open/closed, modified etc.
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BUY Trade
When RSi is above 70
and
MACD is Positive. The sell trade will execute if the momentum is rising. i.e. the last bar of the histogram is higher than its
previous bar. If the previous bar of the MACD Histogram is bigger and current bar is lower, that means the momentum is decreasing
therefore the trade will not open.
and
ADX is above 25
and
Span A which is also called Leading Span A is above Span B which is also called Leading Span B(Green Cloud is formed)
and
Price candlestick is above Span A (Above the green cloud)
and
Kijun Sen and Tenkan San both are above the Span A ( Above the green cloud)
and
Tenkan Sen has crossed above the Kijun Sen. ( Above the green cloud)
and
Chikou Span which is also called Lagging Span is above the the Span A (Above the green cloud) and also above the price of
candlesticks as well.
If the price have moved above a certain numbers of pips above the cloud , the trade will not open. An option should be given to enter this
parameter manually. For example, the candlestick is too big and it moves 50 pips and the parameter is set to 30 pips, the trade will not
execute.
SL will be set below the low of the candle which has crossed and closed above the Span A ( Green Cloud). An option to set manual SL should be
given. Move Sl to cost when the trade has moved the same number of pips as SL.
TP and trailing stop will be discussed with the developer later
When RSi is below 30
and
MACD is negative. The sell trade will execute if the momentum is rising. i.e. the last bar of the histogram is lower than its
previous bar. If the previous bar of the MACD Histogram is bigger and current bar is lower (less negative value), that means the momentum
is decreasing therefore the trade will not open.
and
ADX is above 25
and
Span A which is also called Leading Span A is below Span B which is also called leading Span B (RED Cloud starts forming).
and
When Price candlestick is below Span A (Below the red Cloud)
and
Kijun Sen and Tenkan San are both below the Span A ( Below the red cloud)
and
Tenkan Sen has crossed below the Kijun Sen line. (Below the red cloud)
and
Chikou Span which is also called Lagging Span is below the the Span A ( Means belows the cloud) and below the price candlestick as well.
If the price have moved below a certain numbers of pips below the cloud, the trade will not open. An option should be given to enter this
parameter manually. For example, the candlestick is too big and it moves 50 pips and the parameter is set to 30 pips, the trade will not
execute.
SL will be set below the low of the candle which has crossed and closed above the 200MA. An option to set manual SL should be given.Move Sl to
cost when the trade has moved the same number of pips as SL.
TP and trailing stop will be discussed with the developer later
The product needs to be delivered with the Source code.
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