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Rules
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Specification
I need an EA created with multiple entry and exit options based on the Ichimoku cloud. Also need to be able to choose the different lengths and settings of the indicator. Would also like an option to choose between fixed lot and auto lots to adjust risk level. Any suggestions for extra features are welcome.
Get into a long/short using the following entry strategy.
- Default entry strategy
Get into a long/short using the following exit strategy:
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ATR pullback
Be able to choose two additional features to enter/exit trades
- Optional safety check
- Exponential moving average filter
Default entry strategy
Long Entry
The conditions for a long entry are the following:
- Lagging span is above the cloud
- Conversion line is above the base line
- Projected cloud is green
- Candle closed above cloud
- The price must have crossed above the cloud again following a previous long trade
The conditions are evaluated on each candle close.
Short Entry
The conditions for a short entry using the “Default” strategy are the following:
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Lagging span (purple) is below the cloud
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Conversion line (blue) is below the base line (yellow)
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Projected cloud is red (red line is above green line)
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Candle closed below cloud
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The price must have crossed below the cloud following a previous short trade (more on this below)
The conditions are evaluated on each candle close.
ATR Pullback Exit Strategy
Uses Average True Range to set stop loss and take profit with the following settings to choose from.
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ATR Length: This is the number of historic candles the ATR will be calculated on
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ATR Multiplier: The stop loss will be set at the current close minus this many times the ATR (e.g. if this is set to 2, the stop loss will be set at 2 times the ATR below (for long entries) / above (for short entries) the close of the entry candle)
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Risk/Reward Ratio: example: a risk/reward ratio of 2 will result in the take profit being placed twice the distance of the stop loss
Extra Safety Check to Exit Trades (can be enabled/disabled)
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If the “Close long position if lagging span crosses below price” setting is enabled, then on each candle close the strategy will evaluate if the lagging span has crossed below the price, and if it did, then it immediately exits the long position without waiting for the take profit / stop loss targets to be hit.
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If the “Close short position if lagging span crosses above price” setting is enabled, then on each candle close the strategy will evaluate if the lagging span has crossed above the price, and if it did, then it immediately exits the short position without waiting for the take profit / stop loss targets to be hit.
EMA Filter
Enable/disable an EMA filter that will only open long/short positions if the candle closing price is above/below the specified EMA period.
Thanks in advance!!!