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Rules
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Specification
This EA Robot is only to work inside price ranges just like the point and figure platform or the Renko platform.
1. This is only to be made for MT4
2. Although I use Renko pictures to describe the point ranges of 50 points or 100 point settings, this EA robot is not to be made as a Renko Indicator or EA. This EA robot your making should be getting its price points directly from the price itself coming from that particular Forex exchange I’m trading on.
3. This EA robot must work on the MT4 platform and must work for back testing and real money or demo money purposes.
4. This EA robot must work with any platform of candlesticks, line charts and bar charts inside the MT4 platform EA back testing mode is a must for this EA robot.
5. This EA robot will not have any type of indicator attached to it. It will be its own independent EA robot indicator.
6. The EA robot should be betting on the first 1 or 2 levels only from the point of trend reversal. (See Picture Below)
7. I need 2 toggles for the first level bet and for the second level bet.
First level bet is the first bet once the trend reversal shows itself and the second level bet is the very next range point.
8. I need a toggle to change the levels of betting to any point or pip count I want.
9. If I set the toggle at a stop loss of 50 points and a win of 2500 points. I want those 2 settings to be the only 2 settings to apply for getting me out of the trade no matter how long it takes to play for hours days or weeks. The robot never stops playing until one of those 2 settings take place a stop loss of 50 points or a win of 2500 points if that is what I set it for.
10. I want all source codes for this robot and full ownership.
11. I want this robot to allow me to bet only longs or only shorts or both at the same time. (I want the default to always be set to play both wins and losses at the same time)
12. I want the default to always be on play every play.
13. I want the EA robot to be able to play on all Forex Exchanges, and Indices.
14. I want the EA robot to play both directions at the same time.
15. I would like the default of the EA robot to be set at win profit 2500 points and the stop loss to be at 50 points and to play every opportunity that comes up.
16. The point range should always be the point value set by the toggle I choose. So if the default range should be at 50 points but I should be able to change that to 100 points if I want or any point range I want.
17. So a double range would be 50 points times 2 or 100 points. And it will take a double range lose to stop me out from the point I originally got into the trade or a double range with a trend reversal to jump me into the next play with the exception of the 2nd bet on an upward or downward trend reversal which would only be 50 points.
18. I want to be able to turn off the second toggle so If I only want to make one play per trend reversal I can or if I turn the 2nd toggle on to TRUE I can tell the EA robot to play 2 plays per trend reversals or vice versa. If I want the first toggle to be turned off to False and I want the 2nd toggle to be On or TRUE I can do that too.
How this EA robot should work
The Robot will work like this. For example: Let’s say the Forex exchange price is at 1000 and each point range is toggled to be 100 points and it goes up to 1010 (This 10 pips would complete the 100 point range that establishes the exact 100 point range) and then the exchange goes up again to 1020 and goes up again to 1030 and then it drops down to 1020 and drops again to 1010. This would be a trend reversal and the robot would then trigger a short trade to bet on. Playing downwards. If the Forex exchange price drops again down to price point of 1000 and I have the toggle to play a second time the robot will then jump into a second play. Then if the price point goes down again to 990 the robot will not place a 3rd bet because there are only 2 trades allowed for each trend reversal. The only way this play would be canceled is if the robot were to stop out at reaching 1030 because the robot only stops out at 2 times the level of tiers in reverse of its original starting point. Same thing in reverse. If the price started at 990 and the price went down to 980 and then went down again to 970 and then went up to 980 and went up again to 990 the robot would trigger a long play upwards. And continue to play upwards until one of 2 things happen the prices goes 2 levels below or above the starting point. Which in this example would be 970 which would stop it out or if the price point reaches a win of 2500 pips or reaches 3490 within that range of play.
(Another simpler way of saying this in a 50 point range)
Up 50 points up again 50 points up again 50 points up again 50 points and then down 50 points and then down again 50 points. EA robot bets first bet and then it goes down again 50 points and the EA robot places its second bet downward and there is no 3rd bet in this cycle of trend. When the trend changes then it starts the new bets all over again. But remember the previous bets never are cancels or taken off the game unless they reach their individual stop loss or win targets.
Down 50 points down again 50 points down again 50 points down again 50 points and then up 50 points and then up again 50 points. EA robot bets first bet and then it goes up again 50 points and the EA robot places it second bet upward and there is no 3rd bet in this cycle of trend. When the trend changes then it starts the new bets all over again. But remember the previous bets never are cancels or taken off the game unless they reach their individual stop loss or win target.
Same thing said in more detail in a 100 point price range
This EA robot is based on how many price points go up or how many price points go down. This robot is not based on time at all only price points of that particular Forex Exchange I’m playing on. So for example a 100 point range may take 5 seconds or 2 hours or 2 days. 100 point range is the same thing as a 10 Pip range
This example is if the robots toggle is set to have a range point value of 100 points that would equal 10 pips instead of the 50 point price range we explained earlier.
So if each point value is toggled at 100 points and the Forex market goes up 100 points and then goes up another 100 points and then goes up another 100 points and then drops 200 points this would be considered a price reversal and the robot would place a bet going down.
Then the robot goes down 100 points and again goes down 100 points and then goes down 100 points and then goes up 200 points the robot would place another bet going up.
This continues on and on until the original bet gets a loss by 200 points from where it started. If I placed a bet at 12000 on the Forex board and the original bet goes below 12000 by 200 points it would stop me out of the bet at 11800.
So that long or up bet could start at 12000 and go all the way up to 13800 and then drop all the way back to 11800 before that long bet would stop me out. But if the bet never goes below 11800 then the bet would stay active until I reach my goal of 2500 points or 250 pips.
The robot needs to be coded to understand that if it goes up 100 points and then goes down 150 points that it does not trigger a sell bet because the robot didn't go down a full 200 points. And most importantly the robot returns and goes back up 100 points it did not reach its full 150 back from where it started so the robot is in a state of contractions and should know where to commutate when the 200 down drop started from. Each 100 points triggers a new starting point so everything going up or down from that point does not create a new starting point unless it goes up another 100 points up and beyond the first 100 trigger starting point and the robot will not create a new starting point unless it drops 200 points and at that point the robot would place a bet and create a new starting point at the 200 point drop.
So remember the starting points have to be part of the robot programming. You can make each starting point at any point but the robot has to go up or down from that starting point.
It's like a ruler. The robot has to keep track of each new point of reference otherwise it won’t work. The robot goes up 100 points and then goes up another 100 points and then only goes down 40 points the robot needs to look back at the starting point of where it was from the very last 100 points mark and understand where it is at going down 40 points. So at the point the robot goes up 20 points and goes down another 50 points the robot has to keep its eye on the original point of reference of the last 100 point mark to know if the robot actually has reversed by 200 points in the opposite direction.
And the same goes for if the robot goes down 100 points and down again 100 points and then goes up 110 points. The point for the robot is still at the last ending of the 100 points.
So every single time the robot reaches its goal of going up 100 points the robot should lock in that figure as the reference point until the robot reaches another 100 points upwards before the robot creates another reference point to calculate what to do at that point forward. and every single time the robot reaches its goal of going down 100 points the robot should lock in that figure as the reference point until the robot reaches another 100 points downward before the robot creates another reference point to calculate from.
And when the robot has a reference point that has continuously going up and the robot sees the reference point and reverses downward by double points of going down 200 points the robot triggers a new bet going down and a new reference point to work from. and when the robot has a reference point that has continuously goes down and the robot sees the reference points and reverses upwards by double points of going up 200 points the robot triggers a buy to bet upwards and the robot creates a new reference point to work from.
These reference points are very very important with this robot because without them the robot wouldn't know how to calculate anything. So each 100 points up or down creates a brand new reference point. But a bet is only produced when the reference point reverses by 200 points from the previous trend of 100 points up or 100 points down.
Each point of reference is 100 points up for green and 100 points down for red. It takes 200 points down to reverse the direction of the trend and the robot should place a bet. And it takes 200 points up to reverse the direction of the trend.
The robot needs to be able to change the point value from a toggle. If I want the robot to use 150 points down or up then the robot would know to double that point value of 300 points in order to place a bet the opposite direction of the previous trend. I really like the 25 point square. So it would take double that of 50 points before the robot would place a bet and reverse the reference point.
So every reference point would start after it reached its 25 point goal of going up up up or down down down. And create a new reference point at each 25 point level and start a new bet at the 50 point level when making a new bet.
So each set point of 5 Pips will be locked into the robot. The set points don't have to be linked to the actual price of the exchange or stock. So it works 5 Pips up creates a set point and then 5 Pips up create another set point and then 5 Pips down creates a set point but nothing happens yet and then another 5 Pips down then creates the first bet. and then another 5 Pips down creates the 2nd bet (but only if the 2nd toggle is set to TRUE) and then every 5 Pips would create new set points but no bets are happening unless a reversal happens and the same thing happens again but only in reverse.
So this is exactly what the robot EA should bet on with each of the yellow arrows I marked out in the picture. Showing a possible 8 bets. For both up or down range bets. And each of these 8 bets will each stay in play until the range for that particular bet goes below 2 square from its originally starting point. So the stop loss is set to be 6 Pips below where I came into the bet making every single bet to have a 6 Pip stop loss from where each one started individually.
So you can see the 2 red square that I would have bet on in this example would have each been stopped out when they each reached 2 squares above where they started in each beginning bet. 2 squares meaning 6 Pips if each square is set for 3 Pips each. Again no Renko needed for the robot because this is all done by ranges of betting. Again the Renko is only used for me to explain how the ranges work to visually make it easier to understand by the actual being inside the robot doesn't need Renko at all if the robot is programs correctly.
So I need 2 toggles. 1 toggle True or False that allows me to bet on the first square going the opposite direction of the range going down or up 6 Pips and a second toggle True or False that allows me to add another bet 3 Pips later if the 2nd square of the same color as the first square comes out if I so choose it to bet again. Doubling my wins or losses.