All orders
Rules
Specification
When 100 candle/period exponential moving average (Source: Close) crosses under 50 candle/period exponential moving average (Source: Close), Open a Market Buy at the next candle open (depending on timeframe for the chosen chart) with 2% of Account Size, Set Stop Loss to 20 Pips under entry, and a Take Profit at 70 pips above entry.
Take 50% profit (close half the position) at 30 pips above entry and move stop loss to entry position.
Leave remaining of the trade open until it hits stop loss or take profit, or if the 100 day and 50 day ema cross again, close position and take opposite position (if original position was a Market Buy, with 100 day ema under the 50 day ema, and now it crosses and 100 day is above 50 day, close position and open a sell position with the same parameters).
Also add a feature where I can split up the position entry into 2 different entries. So if the ema’s cross, I enter 75% of the risk % (defined by a different parameter), and then a certain amount of pips later, enter the remaining 25%. There would have to be 2 additional parameters/variables for this: the % split of the two entries, and at which price/pip change.
For example, (with a default risk of 2% per trade), if this new feature is set to 75%/25% and -10 pips, and there’s an buy triggered at 1.0020, the bot enters a buy position of 75% of 2% at 1.0020, then at 1.0010 (10 pip drawdown), it enters the remaining 25% of the 2% risk.
To clarify: Initial entry (based on ema crossings) is done on the following candle of the timeframe the ea is in, all other entrys or exits are done immediately.
Please make sure the following are variables:
Entry size is % of account size
Original stop loss position in pips
Original take profit position in pips
Additional take profit at 50 % is a variable with percentage and the position above/below entry can be adjusted in pips
Both EMA values in days
% of entry (regarding last paragraph)
Price/pip change for second additional entry (regarding last paragraph)
Note: I have added the indicator from tradingview that this strategy is based on. It can help understand parts of my explanation.