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I want to create an expert advisor that will use an estimated distance (in absolute figure or %) between the lowest and highest price position to take bids depending on the market Direction. The variables will consider the following:
1. projected distance between highest and lowest price
2. updated distance ie actual distance between current highest and lowest
3. current lowest price
4. current Highest price
5. Bid lot sizes in three conditions (a) to remain same (b) To increase by addition (c) To increase by multiplication
6. minimum distance before it activates bids
7. activate market Direction upwards or downwards EG if market lowest price does not change and highest price changes then Direction is UPWARDS, but if market lowest price changes last then Direction is DOWNWARDS
8. Direction will change once market crosses the average of the distance between highest and lowest prices
9. There will be four categories of distance in prices (a) short-term minimum (b) short-term maximum (c) long-term minimum and (d) long-term maximum
10. Bids can only activate when they reach short term minimum in same direction until it reaches (higher of (long-term minimum and short Minimum
11. Bids going against Direction will activate at short term maximum against the direction to a maximum of long term maximum
12. if market Direction reverts ie after crossing the midpoint against the current direction, then Direction would change and bids condition will activate according to the new Direction using the extreme prices of the previous Direction and the midpoint
13. Bids will have the option of closing when projected distance between highest and lowest price is achieved or not.
So in summary when the expert advisor is installed it begins to identify the lowest and the highest prices the direction is determined by which price is currently changing between the highest and lowest prices. Once the minimum short-term distance is achieved, the expert advisor activate bids using the gap and towards the direction. BUY if Direction is UPWARDS, example If HIGH price is changing or SELL when price is falling DOWNWARDS and lowest price is changing. Robot will activate a reversal bids at percentage of current distance between highest and lowest and a direction bid using the minimum distance. First reversal bids will be based on minimum short term distance and a percentage of daily adjusted distance. Different lot sizes would be used for Direction bids and reversible bids. All reversal bids must have a minimum distance of 50% short-term maximum for it to activate. If market movements reach the minimum long-term distance then it will reduce bids towards the direction example double the distance between bids to activate new bids as well as use lower lot sizes by then.
EXAMPLE OF DESIGN.
Product = AUDJPY, Projected Distance= 4, Start price = 94.5, minimum Low 0.5, Maximum Low= 1.5, Minimum High= 2, Maximum High = 6, Minimum distance for bid to activate= 1.0. Data below for Day 1-15. Using Daily Highest and Lowest prices and 96.2
AUDJPY DAY 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
HIGH 94.8 95.5 95.8 95.95 96.25 95.6 95.4 96.1 95.6 96.55 97.4 97.5 98 98.4 99
LOW 94.1 94.5 94.6 94.62 94.9 94.8 94.7 94.99 94.99 95.4 95.99 96.6 97 97 97.5
Day 0/ Day 1
Robot starts at Start price of 94.5(on Day 0) and goes to low of 94.1, and then High of 94.8 on Day 1. Minimum distance to activate bid is 1, so Current low is now 94.1 and Current Highest is 94.8. BUY at 95.1, SELL at 93.8.
Day 2
Highest at 95.5 and Lowest at 94.5. Using the condition specified, Cumulative LOWEST still remains 94.1, and Cumulative HIGHEST is now 95.5. So Direction of market is UPWARDS. So Buy will activate at 94.1+1=95.1 (First bid) and then future gaps of minimum Low (0.5) ie 95.6. upwards (if bid is based on gap, or can activate based on % of current distance between Highest and lowest prices) . And SELL will be activating at the top of the BUY bids.
NOTE VERY IMPORTANT. At Day 1, Distance is now 94.8-94.1=0.7. So Using condition of 0.7 as 100%, Robot will SELL at 100% to 150% of 0.7, and BUY at 0% to 100% if Highest price changes in DAY 2.
If Lowest price changes in Day 2, then Robot will SELL at 0% to 100% and BUY at 0% to -50% of 0.7 gap. Distance between bids will be determined by % or actual price gap distance for Direction and against direction.
So BUY will activate from 94.1 to 94.8 on Day 2, and SELL will activate between 94.8 and 95.5 in Day 2.
Day 3
Highest at 95.8 and Lowest at 94.6. Using the condition specified, Cumulative LOWEST still remains 94.1, and Cumulative HIGHEST is now 95.8. So Buy will activate at 94.1+1=95.1 (First bid) and then future gaps of minimum Low (0.5) ie 95.6. upwards. And SELL will be activating at the top of the BUY bids.
So BUY will activate from 94.1 to 95.5 on Day 3, and SELL will activate between 95.5 and 95.8 in Day 3.
Day 4
Highest at 95.95 and Lowest at 94.62. Using the condition specified, Cumulative LOWEST still remains 94.1, and Cumulative HIGHEST is now 95.95. So Buy will activate at 94.1+1=95.1 (First bid) and then future gaps of minimum Low (0.5) ie 95.6. upwards. And SELL will be activating at the top of the BUY bids.
So BUY will activate from 94.1 to 95.8 on Day 4, and SELL will activate between 95.8 and 95.95 in Day 4.
Day 5
Highest at 96.25 and Lowest at 94.9. Using the condition specified, Cumulative LOWEST still remains 94.1, and Cumulative HIGHEST is now 96.25. So Buy will activate at 94.1+1=95.1 (First bid) and then future gaps of minimum Low (0.5) ie 95.6. upwards. And SELL will be activating at the top of the BUY bids.
So BUY will activate from 94.1 to 95.95 on Day 5, and SELL will activate between 95.95 and 96.2 in Day 5.
And so on and so forth until Highest distance is achieved Upwards or if market reverts downwards to reach the Maximum distance. Once Maximum distance is achieved, it closes all outstanding bids and starts all over again using the current price as starting price and then the High and Lowest price of the Day, or next Day For taking new bids.
Using the above variables, If lowest price remains 94.1, and projected distance is 4, then EA will close all bids at 94.1+4= 98.1 as much as prices doesn’t go below 94.1. Once it closes all bids at 98.1, it can restart a new cycle at 98.1 and use the same condition to continue.
As above you can see that 98.1 was achieved on Day 14, when we have HIGH of 98.4 and Low of 97. So it closes all Bids by then and start a new cycle with start price at 98.1, and then uses Day 14 as High and Low or Day 15 as High and Low for Day 1, and then contuse another cycle.
The Plan and concept of the EA is to take bids towards the direction using the current gap and against the direction at an estimated gap. Also NOTE that the EXAMPLE is based on taking direction bids at 100%.
If Direction bids is taken at 80% for example, then i can only BUY from 0% to 80% range of current Cumulative prices while i SELL at 100% to 150% based on 50% external gap bid.
So the % gaps should be set as variables to enable adjustments to determine the range to BUY and the range to SELL from the EXTREME CUMULATIVE position.
I believe this is well explained and can be done within the minimum budget and time.