I need a manual forex trading strategy to be automated
Budget
456$
per month
Posted: 5 years ago
Opened
- Description
- I have a non-repainting forex manual indicator, based on renko charts, which I would like to turn into an EA. It is an ex.4 file. I would like it to have a trailing stop such that winners catch the maximum number of pips, and also such that winners do not turn to losses when the market change, and losses are kept small.
The indicator works on the premise that when the renko bar changes colour from red to green, we enter a buy trade and when it changes colour from green to red we enter a sell trade. It works on any time frame. To filter the noise on the different market charts, one plays around with the renko size candles (pips).
The EA can have an option to open three trades at once. First two trades with a 1:1 risk reward ratio, third one should be moved to break even when the first two trades hit TP, and only gets closed when renko bar changes colour from red to green or green to red. Alternatively, the first trade can have a risk reward ratio of 1:1, second one can trail, and third trail can be moved to break even when the first one hits TP and only gets closed on renko bar colour change. I am not very sure what the best way of extracting maximum pips safely here would be, and I would be open to your professional advice based on your trading and coding experience.
When candles that trigger the renko bar colour change exceed the renko bar in terms of pip size, i.e 50 pip candle size on 40 pip renko bar, the EA should not open a trade, as this is likely market manipulation
The stop loss should be set just below/above the previous bar of opposite colour.
I can share the inputs tab of the indicator, and screenshots of charts based on M5, H1 and H4 time frames with different renko bars. Once again, the indicator is non-repainting and orders are opened and closed based on renko bar colour change.
Please let me know if it is possible to code an EA for this type of indicator
Skills:
forex trading,advice/consult and guidance,automation,extraction,trade marketing
- Category
Source: peopleperhour.com
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