Hello
The following thread will be dedied into the automation of the idea mentioned below.All inputs and opinions are welcomed but let us all please communie in a civil way.
The system entry and exit standards are as follows:
Entry Criteria For Longs
When a pub crosses from under the MA to above the MA,
Then this bar should be considered as a Potential Signal Bar.
Next,
When the Potential Signal Bar closes and a new bar forms,
Then the High of the prior bar ( currently The Confirmed Signal Bar ) should be kept say as x
Next,
If price increases from x by 2 pips or more
Then a Buy Market Order should be implemented. // This Buy will not have any TP or SL for now
Only 1 long trade open at any moment.
This order will stay open until the Entry Criteria For Short are met along with the trading management is reversed by shutting the Buy and opening the Economy as per criteria under:
Therefore,
Entry Criteria For Shorts
When a pub crosses from above the MA to under the MA,
Then this pub should be Regarded as a Potential Signal Bar.
Next,
When the Potential Signal Bar shuts and creates a new pub,
Then the Low of the prior pub ( currently The Confirmed Signal Bar ) should be kept state as x
Next,
If price declines from x by 2 pips or more
Then a Sell Market Order should be implemented. // This Economy will not have any TP or SL for now
Only 1 short trade open at any moment.
This order will stay open until the Entry Criteria For Longs are met along with the trading management is reversed.
Indictors as follows
For the range bars, I utilize RangeBarChart v1.03a (attached). This goes into File - open data folder - MQL4 - Indiors
The templates used are 1min Range Bar 40/50 Indices 1m Offline Range bars 40 Indices (attached). These enter File - open data folder - MQL - templates
Start with a chart for GER30 (DAX) 1 minute chart and use template 1min Range Bar 40/50 Indices.
Then open Offline chart (in FILE); It should be displayed as GER30 M40 (M50 also needs to be accessible for 5 pip pubs ); Employ template 1m Offline Range bars 40 Indices.
This should produce a chart same as under. (I use FXCM therefore there could be differences with other sources).
https://www.forexsoutheast.asia/atta...1746815605.tpl
https://www.forexsoutheast.asia/atta...5346320430.tpl
https://www.forexsoutheast.asia/atta...1056701795.ex4
As a side note:
Here's a script which simplifies the current order and Reverses it for easier manual testing and trading
https://www.forexsoutheast.asia/atta...8142305894.mq4