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Rules
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Specification
Hello,
GENERAL INFO
The ea will almost always be in a trade. Because profitable trade is closed on a bar open, and at the same time - on the same bar open, a new trade will open.
But if a trade is stopped out, it will be stopped out at a predefined level, and (probably)not on a bar open. On the next bar open, after stop loss, a new trade should be opened.
The EA will only work on the chart it is placed on.
The EA must have Magic number - which can manually be changed.
It is referred to “X pip” some times. It means that the user can write the amount himself. If he writes “10” it means 1 pip.
RULES FOR BUY
Always enter market at a Bar open.
BUY at market when:
1. If last trade was a loss (ended in stop loss), and was a BUY trade.
The buy trade should open on the NEXT Bar Open, after the Bar that the previous BUY trade was stopped out.
2
2. 2.
If the last trade was a profitable trade, and was a SELL trade.
The buy trade should open on the SAME Bar Open as the previous profitable SELL trade was closed.
RULES FOR EXIT A BUY TRADE
PROFIT: If the buy trade has a Bar close (in the same timeframe) that is bigger than X pip in profit, then exit on the NEXT Bar Open.
STOP LOSS: Stop loss is X pip. Stop loss should be visible in the chart.
RULES FOR EXIT A SELL TRADE
Rules for sell are opposite of rules for buy:
Always enter market at a Bar open.
SELL at market when:
1.
1.
If last trade was a loss (ended in stop loss), and was a SELL trade.
The sell trade should open on the NEXT bar open, after the Bar that the previous SELL trade was stopped out.
2.
2.
If the last trade was a profitable trade and was a BUY trade.
The sell trade should open on the SAME Bar Open as the previous profitable BUY trade was closed.
RULES FOR EXIT A SELL TRADE
PROFIT: If the sell trade has a Bar close (in the same timeframe) that is bigger than X pip in profit, then exit on the NEXT Bar Open.
STOP LOSS: Stop loss is X pip. Stop loss should be visible in the chart.
LOTS
To alternatives for choosing how many lots for each trade:
1: Choose a standard lot: X lots
2: X % of the the balance. (So when the balance increases - the lots also increase. And if the balance decreases - the lots also decrease. If deposit is $ 100.000, then 10% equals 1 lot.
ADDITIONAL OPTIONS
An alternative to choose if trading should be stopped Fridays at a chosen time and resumed on Monday at a chosen time.
An alternative to choose that the EA only will operate within a specific periode of time during the day: Example: between 07:00 and 16:00. If a trade is not closed at 16:00, it will close according to rules for exit, and not be forced closed at 16:00.
COMMENTS
The timeframe the trade is taken on should be written in the comments of the trades. Example: If a trade is taken on the 1-minute timeframe, the comment should be: “1 MIN”
