Spezifikation
Indicator in use: Bollinger Bands
Mechanism
(See diagrams provided for help)
Sells:
1. Trigger candle: When candle low is above the top Bollinger band - accurate to the lowest point scale (e.g. On EURUSD if candle low is 1.07915 and the value of top bollinger is 1.07914 - this is a sell signal; or if on Futures if the increment is .25 or .10 then this is used)
2. Enter sell ONLY on the next candle if price breaks below the trigger candle LOW (using the e.g. above- if next candle price moves below 1.07915, enter a sell)
3. Stop loss is the top of Trigger candle + spread at the time of entry + extra points buffer [see below]
4. Take profit mechanism will be trailing stop (see below)
Buys:
1. Trigger candle: When candle high is below the bottom Bollinger band - accurate to the point scale (e.g. On EURUSD if candle high is 1.07915 and the value of top bollinger is 1.07916 - this is a buy signal)
2. Enter buy ONLY on the next candle if price breaks above the trigger candle HIGH (using the e.g. above- if next candle price moves above 1.07915, enter a buy)
3. Stop loss is the bottom of Trigger candle + spread at the time of entry + extra points buffer [see below]
4. Take profit mechanism will be trailing stop (see below) Key point: As I want the SL to include the spread, the entry and exit of the trades must match what is shown on the chart based on the strategy.
Trade Entry Settings:
1. Lot size per trade by two options:
Option 1 - Order quantity (allow 2 decimal places) (default 0.01)
Option 2 - Risk % (Risk % of equity based on the SL size- Allowing for 1 decimal place (X.X%)
2. SL buffer (extra room to add to SL) - ON or OFF
Option - Points (default 0)
Trade Management Settings
1. Minimum and maximum allowed SL size (in points)
Option 1 - Min SL size in points
Option 2 - Max SL size in points
2. Minimum and maximum allowed trigger candle size (in points)
Option 1 - Min size in points
Option 2 - Max size in points
3. Trailing Take Profit Settings
Input : Trailing step in 'R' value. Where 1R = Size of SL. E.g. if R=0.5, the trailing stop will move every 50% of the size of the SL in direction of the trade.
Trailing take profit will start immediately when trade is executed.
Operating Features:
1. Time period (XX:XX to XX:XX) for no trading - ON or OFF
2. No trade if spread is larger than size of SL - ON or OFF
3. Max spread settings (default 0 points) - only allow entry to be taken if spread is lower than this
4. Show Bollinger band settings
5. Identify Trigger candles with a blue dot above or below the trigger candle - ON or OFF
6. Exit on session close - ON or OFF
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