An Expert Advisor based on wyckoff schematics Accumulation/Distibution

The primary goal is to develop an automated trading robot that identifies and trades based on Wyckoff accumulation and distribution schematics in the Forex market. The robot aims to mechanize the discretionary aspects of Wyckoff analysis, providing consistent, emotion-free trade execution.

2. Uses of the Robot:

• Automated Trading: Execute trades (entry, stop-loss, take-profit) based on identified Wyckoff patterns without manual intervention.

• Backtesting: Rigorously test the viability and profitability of Wyckoff-based strategies across various currency pairs, timeframes, and historical data.

• Pattern Scanning & Alerting: Continuously scan multiple currency pairs and timeframes for emerging Wyckoff phases and key events, alerting the user or taking predefined actions.

• Objective Analysis: Remove emotional bias and subjectivity inherent in manual Wyckoff interpretation.

• Strategy Optimization: Allow for tweaking parameters related to Wyckoff event definitions to optimize performance.

• Time Efficiency: Trade the markets 24/5 without requiring constant human monitoring, especially useful for traders with limited time.

3. Core Specifications (The "What"):

• A. Wyckoff Logic Engine:

  • Phase Identification: The robot must be able to identify the distinct phases of Wyckoff schematics:

    • Accumulation (Phase A, B, C, D, E)

    • Distribution (Phase A, B, C, D, E)

    • (Optional: Re-accumulation and Re-distribution)

  • Key Event Recognition: Identify specific Wyckoff events within these phases:

    • Accumulation: Preliminary Support (PS), Selling Climax (SC), Automatic Rally (AR), Secondary Test (ST) in Phase B, Spring (or Shakeout), Test of Spring, Sign of Strength (SOS), Last Point of Support (LPS), Back-Up (BU).

    • Distribution: Preliminary Supply (PSY), Buying Climax (BC), Automatic Reaction (AR), Secondary Test (ST) in Phase B, Upthrust After Distribution (UTAD), Sign of Weakness (SOW), Last Point of Supply (LPSY), Test of UTAD/LPSY.

  • Volume Analysis:

    • Integrate volume data to confirm price action (e.g., high volume on climaxes, diminishing volume on tests, increased volume on breakouts).

    • Ability to use relative volume or volume spikes compared to an average.

  • Price Structure Analysis:

    • Identify trading ranges (TRs).

    • Recognize higher highs/lows for markup and lower lows/highs for markdown.

    • Detect absorption of supply/demand.

• B. Trading Parameters (User Configurable):

  • Currency Pairs: Selectable list of pairs to monitor.

  • Timeframes: Selectable primary timeframe for analysis and (optional) higher/lower timeframes for confirmation.

  • Wyckoff Event Sensitivity: Parameters to define the "strength" or "clarity" of events (e.g., percentage price move for AR, volume threshold for Climax).

  • Entry Rules: Define specific triggers for entry (e.g., after SOS and successful test of LPS, or after SOW and test of LPSY).

  • Stop-Loss Placement:

    • Based on Wyckoff structure (e.g., below Spring for longs, above UTAD for shorts).

    • ATR-based or fixed pip value.

  • Take-Profit Placement:

    • Based on projected range expansion (Point & Figure an advanced option, or simple multiples of risk).

    • Targeting previous significant S/R levels.

    • Trailing stop options.

The robot must accurately identify at least one primary Wyckoff accumulation schematic and one primary distribution schematic.  The robot must be able to identify key events (SC/BC, AR, ST, Spring/UTAD, SOS/SOW, LPS/LPSY) with configurable sensitivity.  The robot must integrate volume analysis to confirm or deny price action signals.  The robot must execute market or pending orders based on predefined entry criteria.  The robot must automatically set stop-loss and take-profit orders upon trade entry.  The robot must manage open positions according to defined rules (e.g., trailing stops).  The robot must allow users to configure all critical trading parameters.  The robot must provide detailed logs of its operational decisions and trade executions. The robot must be able to run continuously on a VPS (Virtual Private Server).

Data Handling: Efficiently process historical and real-time tick/bar data (Open, High, Low, Close, Volume).

Error Handling & Logging: Robust error handling (e.g., connection issues, trade execution errors) and detailed logging of decisions, trades, and errors.  

Visual display of identified Wyckoff phases and events on the chart. 

Trade history and performance statistics (win rate, profit factor, drawdown, etc.). Alerts (on-screen, email, push notifications) for identified patterns or executed trades.