New EA
Setting
Minimum Candle Size = 25
Maximum candle Size = 75
Trade on Monday = Yes/No
Trade on Tuesday= Yes/No
Trade on Wednesday= Yes/No
Trade on Thursday= Yes/No
Trade on Friday= Yes/No
Risk Per Trade in % of equity = 2
Take profit Target = 1:1 / 2:1/ 3:1
Breakeven Enable = True / False
Maximum Trade per Pair = 1
Maximum Trade in the account = 10
The EA should be able to on 1 hour, 4 hour and Daily chart. Before taking any trade the EA much check if it’s allowed to trade on the day and the trigger candle shouldn’t be less than minimum or more than maximum candle size. Can’t have more than 1 pending trade per pair for a same time i.e 1hour, 4 hours or weekly.
Trade Entry
1 hours Chart –
Long Trade setup When a Bull/Green candle closes above the previous days high. The EA should setup a pending long trade at the high of the candle with a stop at the low of the candle. Keep the pending trade open unless the prices goes below stop price. Once it is below the stop prices the pending trade should be cancelled.
Short Trade setup When a Bear/Red candle closes below the previous days low. The EA should setup a pending short trade at the low of the candle with a stop at the high of the candle. Keep the pending trade open unless the prices goes above stop price. Once it is above the stop prices the pending trade should be cancelled.
Incase the trade is trigged then move stop to breakeven once the price moves half way to profit target.
4 hours Chart –
Long Trade setup When a Bull/Green candle closes above the previous weeks high. The EA should setup a pending long trade at the high of the candle with a stop at the low of the candle. Keep the pending trade open unless the prices goes below stop price. Once it is below the stop prices the pending trade should be cancelled.
Short Trade setup When a Bear/Red candle closes below the previous weeks low. The EA should setup a pending short trade at the low of the candle with a stop at the high of the candle. Keep the pending trade open unless the prices goes above stop price. Once it is above the stop prices the pending trade should be cancelled.
Incase the trade is trigged then move stop to breakeven once the price moves half way to profit target.
Daily Chart –
Long Trade setup When a Bull/Green candle closes above the previous Months high. The EA should setup a pending long trade at the high of the candle with a stop at the low of the candle. Keep the pending trade open unless the prices goes below stop price. Once it is below the stop prices the pending trade should be cancelled.
Short Trade setup When a Bear/Red candle closes below the previous Months low. The EA should setup a pending short trade at the low of the candle with a stop at the high of the candle. Keep the pending trade open unless the prices goes above stop price. Once it is above the stop prices the pending trade should be cancelled.
Incase the trade is trigged then move stop to breakeven once the price moves half way to profit target.