Liquidity run of a defined range during given timeslot and wait for price action reversal pattern (market structure break or candle pattern)

Auftrag beendet

Ausführungszeit 90 Tage
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A real pleasure to work with this developper. My price action project was quite complex and he successfully passed this challenge I do recommend ++

Spezifikation

The time that is given in the algorithm description is in GMT+1

1. Consider the range formed between 02:00 and 7:00AM that we will call "Asian range" (range timeslot must a parameters that can be modified)

2. Wait for any side of "Asian range" to be ran out between from 7:00AM until 9AM and note the last highest or lowest price formed after the liquidity run.
We will call this "Pending liquidity"

3. From 9AM to 9:30AM wait for the "Pending liquidity" to be ran.
NOTE :
If the liquidity run takes place out of this timeslot, the setup is not valid
This timeslot must be modified into a parameter

4. After the "Pending liquidity" is ran out, wait for (2 options)
    1) a market structure break in 1m timeframe that shows a reversal. (see attached snipet as an example)
        - Place a limit order into the most extreme 1 minute fair value gap (imbalance) that originates the market structure break (entry can be set a 0% or 50% of the fair value gap)
        - Stop loss is set behind the ultimate liquidity run
        - Take Profit would be 3R, 5R, Mid or other side of the Asian range (must be a parameter that can be changed ).
        - Lot size must be figured out as per a risk Percentage of the total balance
       
    2) an 5-min engulfing candle pattern that show a reversal.
For example,
    a bearish 5min engulfing if the high of the range has been ran out
    a bullish 5min engulfing if the low of the range has been ran out
    see attached snipet as an example

For a bearish 5min engulfing
    - Place a limit order at the opening price of the 5min bullish candle that precede the 5min bearish engulfing candle
    - Set the Stop Loss at the closure price of the 5min bullish candle that precede the 5min bearish engulfing candle
    - Take Profit would be 3R, 5R, Mid or other side of the Asian range (must be a parameter that can be changed )
    - Lot size must be figured out as per a risk Percentage of the total balance
    
 For a bullish 5min engulfing
    - Place a limit order at the opening price of the 5min bearish candle that precede the 5min bullish engulfing candle
    - Set the Stop Loss at the closure price of the 5min bearish candle that precede the 5min bullish engulfing candle
    - Take Profit would be 3R, 5R, Mid or other side of the Asian range (must be a parameter that can be changed )
    - Lot size must be figured out as per a risk Percentage of the total balance

Note, all placed orders are limit order. Those orders must have a duration before they expires. This duration must be a parameters

Invalidation rules:

1) Price hit mid or other side of the Asian range before pulling back to the entry price

Nice to have feature:

Adding confluence/confirmation based on the area when this setup occurs (supply or demand)

Must to have risk management feature :

- Once price hits a given take profit or threshold, the order must be placed at breakeven

Nice to have risk management feature :

- Being able to take partial profit with a desired percentage at each step

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