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Reversal EA for MT4
Indicators used:
Exhaustion1_nothit_MaxHistory
TMA+CG mladen alerts mtf nrp
Order Management
Only take pending orders
Buy Stop
Sell Stop
#Rule 1
Place Buy stop trade after candle close. There has to be a signal from indicator Exhaustion1_nothit_MaxHistory. Place Buy Stop x pips (to be determined in EA) above high of signal candle
Vice versa for Sell Stop
#Rule 2
Pending order is valid for x candles (to be determined in EA). After closing of candle no. x, pending order is deleted
#Rule 3
Signal candle has to be completely (body and wicks) out of inner band / middle band / outer band of indicator TMA+CG mladen alerts mtf nrp (to be determined in EA)
Trade Management
SL x Pips (to be determined in EA) above/below signal candle
TP factor x (to be determined in EA) of SL
Close on opposite signal of indicator Exhaustion1_nothit_MaxHistory (y/n)
Close on touch of opposite inner band / middle band / outer band of indicator TMA+CG mladen alerts mtf nrp (to be determined in EA) (y/n)
Miscellaneous
EA must have trading times
EA must have max spread
EA must work for FX pairs and indices