All orders
Rules
Job finished
Specification
The trading system is as follows:
There are 3 RSI settings - 6, 12 and 24. When RSI 6 and 12 cross below the 30 line, this is a short. When RSI 6 and 12 cross above the 70, this is a long. We will follow NNFX risk management here. Take profit will be 1 X ATR (14), move stop to break even, then exit when either stop hit or RSI 6 crosses below 70 (if buying) and above 30 (if shorting).
There is also the reversal aspect of the strategy. This is hard to explain without examples so I have attached a document that explains this part of the system. Im not sure the reversal can be coded to my exact specification. If not please confirm with me, and I will be happy to proceed with the above only.
I dont have mathmatical models, so I would need the candidate to base the EA on the visuals I have provided.
Positions are opened on the open of the candle that follows the RSI 6 and RSI 12 cross.
Positions are closed on the candle that follows the RSI 6 and RSI 12 cross.
There should be an option to turn off the reversal aspect.Risk Management:
The system follows the NNFX style of risk management. All postions will be 2% of the account. Lot size will be 2% / 1.5XATR (for reversal aspect also). However there should be an option to change % of account at risk.
There should also be an option to change the % of account at risk per trade. I stated it should be 2% per trade, but it should also give the option to adjust.
Another thing - the risk should be 2% but this is divided between currency pairs. For example taking a short GBP/USD position would take 2%. Taking a GBP/USD short and then a USD/JPY would case the USD/JPY to be 1% and not two as there would be too much risk on USD. I dont plan to close out open positions, just open new positions at a smaller amount.
If any trades have a certain currency, all following trades will be at 1% and not 2%. I would like this to be a setting that can be turned off (meaning 2% for all trades is the default).
Should be compatible with all timeframes. I would like to be sent the source code, and I would not like the source code to be used for other projects