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Good
evening,
I
want to develop an indicator based on a trading robot based on 2 indicators. One of the indicators draws support and resistance areas
on the chart The other indicator identifies entry points on the chart. Buy and sell indicators. I want it to follow the entry points
provided by the indicator highlighting the entry points on the 1h chart when it appears in the support and resistance zone
highlighted by the other indicator.
DIRECTION FOR A BUY
A
buy indicator is indicated within the support region drawn by the other indicator is
contained under a candle on the 1h chart.
The
entry for a buy is at the close of the 1h candle with the buy indicator under it within the support zone as highlighted by the first indicator.
The Buy is entered immediately the 1h candle closes with the BUY signal under the 1hr candle in a buy region, the trade is closed with the
appearance of the sell signal on the 1h candle that has closed.
DIRECTION FOR A SELL
A
sell trade is entered within the resistance region drawn by the other indicator on the 1h chart.
The
entry for a sell is at the close of the 1h candle with the sell
indicator on it within the resistance zone as highlighted by the first indicator. The sell is entered immediately the 1h candle closes with
the sell signal on the 1hr candle in a sell region the trade is closed with the close of the 1h candle with the buy signal on it.
A
new sell is only entered when a new signal appears on a 1h candle in a sell region as highlighted by the 2
nd indicator. Once the candle closes with the sell signal on it, the robot enters a sell. The trade is closed when a buy signal appears on
a closed candle on the 1h candle.
FOR EVERY TRADE
ENTERED A STOP LOSS OF 35 PIPS IS AUTOMATICALLY INCLUDED IN ALL TRADES.
FOR EVERY TRADE
THAT REACHES 25 PIPS IN PROFIT THE STOP LOSS IS MOVED TO BREAK EVEN IMMEDIATELY.
TWO TRADES ARE NOT ENTERED FOR THE SAME PAIR AT THE SAME TIME. SOMETIMES THE INDICATOR PROVIDES TWO ENTERIES BECAUSE IT REPAINTS SO ONLY THE
FIRST ONE WILL BE TAKEN IF IT HITS THE STOP LOSS AND THE INDICATOR PROVIDES ANOTHER ENTRY IN A BUY OR SELL REGION A NEW TRADE IS ENTERED.
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