Hello:
I have been developing a system the last two moths and I want to share it with you, I am happy to join this forum, and many thanks to Felix.
Best whishes
Edel
The system uses two charts:
Daily (it can be changed by the user)
4 hours (it can be changed by the user)
In the 4H chart, we use the following indicators:
- Awesome oscillator
- AC
In the 1H chart we use the following indicators:
- Awesome oscillator
- Fractals (The system uses two different fractal indicators: the fractal indicator that comes by default with metatrader and a second one that I have added; any of the fractals plotted by any of the two indicators are a valid fractals).
- AC
Stops:
Can be defined in two ways:
1) The stop loss will be defined by the higher of the two last opposite fractals back in the 4H chart plus 1 pip plus spread if we go long and the opposite if we go short.
2) The stop loss will be defined by the last opposite fractal back in the 4H chart plus 1 pip plus spread if we go long and the opposite if we go short.
Money management (for 10.000 dollars the risk per trade will be 4% with 200:1 leverage):
The size of the position will be calculated following this formula:
Size=60 pips/difference (in pips) between the current price and the stop loss.
Exit:
Long:
We will exit the position when a candle stick closes a number of pips bellow the low of the last green candle stick, the number of pips defined by the user.
Short:
We will exit the position when a candle stick closes a number of pips above the high of the last red candle stick, the number of pips defined by the user.
So, the EA will have the following variables:
- Stop loss 1 or stop loss 2. (Default: 2).
- Risk: 1: 4%, 2: 8%, 3: 12% etc, (Default: option 2).
- Closing of opened positions: Automatically/manually. (Default: manually).
- Automatic trading or alerts only, (Default: alerts). Anyway I want that the system produce an alert when it opens a position automatically.
- Confirm operation, the system will ask to confirm the opening of a trade (true/false).
- Number of pips that will be added to the low/high to exit a position. Default: 20
- Number of consecutive red or green lines above/bellow the 0 line in the AO oscillator.
Default: the second.
- Exit option number 1 or number 2 (Default: number 2).
Now the rules for going long:
In the daily chart:
1. The current bar of the AC oscillator is positive and green and the last bar is green or the current bar is negative and green and the last 2 bars are green also.
2. The current bar of the awesome oscillator is green.
In the 4H chart:
1. As the price goes up, it triggers at least a fractal in the direction of the trend (it means that we have to enter when the price is above the high of the fractal).
2. The current bar of the awesome oscillator is a green positive bar above the zero line and the immediate last bar is under the zero line. Or the current bar is negative and green. Or we can enter in the second (can be changed by the user) consecutive green bar above the zero line.
3. The current bar of the AC oscillator is positive and green and the last bar is green also.
4. The price must be higher than the close of the last candle stick.
And the rules for going short:
In the daily chart:
1. The current bar of the AC oscillator is negative and red and the last bar is red or the current bar is positive and red and the last two bars are red also.
2. The current bar of the awesome oscillator is red.
In the 4H chart:
1. As the price goes down, it triggers a fractal in the direction of the trend (it means that we have to enter when the price is under the low of the fractal).
2. The current bar of the awesome oscillator is a red negative bar under the zero line and the immediate last bar is above the zero line. Or the current bar is positive and red. Or we can enter in the second (can be changed by the user) consecutive red bar bellow the zero line.
3. The current bar of the AC oscillator is negative and red and the last bar is red also.
4. The price must be lower than the close of the last candle stick.
I have been developing a system the last two moths and I want to share it with you, I am happy to join this forum, and many thanks to Felix.
Best whishes
Edel
The system uses two charts:
Daily (it can be changed by the user)
4 hours (it can be changed by the user)
In the 4H chart, we use the following indicators:
- Awesome oscillator
- AC
In the 1H chart we use the following indicators:
- Awesome oscillator
- Fractals (The system uses two different fractal indicators: the fractal indicator that comes by default with metatrader and a second one that I have added; any of the fractals plotted by any of the two indicators are a valid fractals).
- AC
Stops:
Can be defined in two ways:
1) The stop loss will be defined by the higher of the two last opposite fractals back in the 4H chart plus 1 pip plus spread if we go long and the opposite if we go short.
2) The stop loss will be defined by the last opposite fractal back in the 4H chart plus 1 pip plus spread if we go long and the opposite if we go short.
Money management (for 10.000 dollars the risk per trade will be 4% with 200:1 leverage):
The size of the position will be calculated following this formula:
Size=60 pips/difference (in pips) between the current price and the stop loss.
Exit:
Long:
We will exit the position when a candle stick closes a number of pips bellow the low of the last green candle stick, the number of pips defined by the user.
Short:
We will exit the position when a candle stick closes a number of pips above the high of the last red candle stick, the number of pips defined by the user.
So, the EA will have the following variables:
- Stop loss 1 or stop loss 2. (Default: 2).
- Risk: 1: 4%, 2: 8%, 3: 12% etc, (Default: option 2).
- Closing of opened positions: Automatically/manually. (Default: manually).
- Automatic trading or alerts only, (Default: alerts). Anyway I want that the system produce an alert when it opens a position automatically.
- Confirm operation, the system will ask to confirm the opening of a trade (true/false).
- Number of pips that will be added to the low/high to exit a position. Default: 20
- Number of consecutive red or green lines above/bellow the 0 line in the AO oscillator.
Default: the second.
- Exit option number 1 or number 2 (Default: number 2).
Now the rules for going long:
In the daily chart:
1. The current bar of the AC oscillator is positive and green and the last bar is green or the current bar is negative and green and the last 2 bars are green also.
2. The current bar of the awesome oscillator is green.
In the 4H chart:
1. As the price goes up, it triggers at least a fractal in the direction of the trend (it means that we have to enter when the price is above the high of the fractal).
2. The current bar of the awesome oscillator is a green positive bar above the zero line and the immediate last bar is under the zero line. Or the current bar is negative and green. Or we can enter in the second (can be changed by the user) consecutive green bar above the zero line.
3. The current bar of the AC oscillator is positive and green and the last bar is green also.
4. The price must be higher than the close of the last candle stick.
And the rules for going short:
In the daily chart:
1. The current bar of the AC oscillator is negative and red and the last bar is red or the current bar is positive and red and the last two bars are red also.
2. The current bar of the awesome oscillator is red.
In the 4H chart:
1. As the price goes down, it triggers a fractal in the direction of the trend (it means that we have to enter when the price is under the low of the fractal).
2. The current bar of the awesome oscillator is a red negative bar under the zero line and the immediate last bar is above the zero line. Or the current bar is positive and red. Or we can enter in the second (can be changed by the user) consecutive red bar bellow the zero line.
3. The current bar of the AC oscillator is negative and red and the last bar is red also.
4. The price must be lower than the close of the last candle stick.
