All orders
Rules
Specification
Requirements
| Below are the high level requirements. |
| The idea of the trading EA is as follows: |
| Market entries are performed as per the below criteria(Overview): |
| - This basically needs to find the session range andhen the price breaks the session range and form the first candle outside the range needs to take the trade. |
| - Need to consider the ATR as well. |
| - Check the previous day ATR and overnight session range. |
| - Identifying the Risk : Basically I use the donchian challenge to basically find the previous high/low( when taking the "BUY" consider the recent low; when taking the 'SELL' consider the recent high) and calculate the number of pips |
| - Calculate the overnight range (ON) + 1 R ; |
| If (ON + 1R) < Previous day ATR then TRADABLE DAY |
| >= Previous day ATR then NOT A TRADABLE DAY. |
| - Also, there should be enough gap of at least 1.5R to 2R. |
| - Basically the overnight session + ( 1.5R or 2R )<= Previous day ATR; Need an option to input 1.5R or 2R |
| - Refer the attachment for the sample trade ; This illustrates the buy order ; similarly for hte sell order in the opposite way ( let me know if you need an example for the sell order as well) |
| - Trade Management : |
| - Risk always 1 R |
| - Move the stop loss to 0.5R when the trade hits the 1R.( Need to provide the option to input) |
| - Need to have the options to input the R's and the session time frame |
| - Need to have the options to input the markets etc. |
| - Lot size should be calculated on the risk factor. |
| Please do let me know if you need any other details or any other examples to illustrate the need? |
| INPUTS |
| I should be having the options to select to trade against london session or the U.S session |
| Should be able to input the specific related projects |
| Should be able to input the risk % |
| should be able to input to either 5 mins chart of 15 mins chart or 30 mins etc. |
| Should have an option ot trade in London or US session. |
| Should be able to select the fixed pips like 20 pips stop loss and 40 pips take profit. Should have the options to input the R |
| Should be able to trade or disable during the News events; Basically needs to Filter out the economic events; close the position before 5 mins close all the positions. Interest Rates Employment - FOMC CPI |
Example Chart:
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This is for the BUY:
Position sizing calculator
Below is the just for reference.
