The robot should be able to open buy/sell automatically when all parameter/conditions are met e.g
Bearish Engulfing:
1. Minimum points between the high of the bull candle and the high of the engulfing bear candle=? Points
2. Minimum points between the low of the bull candle and the close of the bearish engulfing
=? Points
3. Maximum points between the low of the bull candle and the close of the bearish engulfing
=? Points
4. Minimum body size of the engulfed candle [previous bar before signal] =? Points
Bullish Engulfing:
1. Minimum points between the low of the bear candle and the low of the engulfing bull candle=?points
2. Minimum points between the high of the bear candle and the close of the bullish engulfing=?points
3. Maximum points between the high of the bear candle and the close of the bullish engulfing
=? Points
3. Minimum body size of the engulfed candle [previous bar before signal] =? Points
Spreads filter
>Provide for maximum spreads that the robot doesn’t open trades if beyond.
Timefilter
>Provide for the option of choosing the time I want the robot to start or stop trading [For example, on some pairs I may want it to work from 1:30am or 2:30am [modified in case of daylight shifts and mid9t is at 1am…The end time being to 21:30pm
-The robot should hence be able to close any open positions at the deadline
News filter
>If possible provide for news filter for all current hottest news/economic events [NFP, CPI, Interest rates, Unemployment rates, Flash manufacturing PMI, speeches, testimonies etc.]
>The robot should stop trading 30mins before selected news events and should only resume trading 15mins after news.[If it’s not possible do this manually after all USD news are during day]
Position Sizing
>The robot should perform automatic position sizing in relation to the account balance
>Hence provide for account balance and option of deciding my own risk per trade in percentages.
Entry
The robot should automatically execute a trade instantly at market price on close of the signal in case all the above parameters are in check.
The robot must be able to close the open trade in case it gets a new conflicting signal in opposite direction e.g. assuming on EURNZD, the robot has a floating ‘sell’ trade and it gets a buy signal, it must automatically close the sell trade as soon as it opens buy. The only exception is if the new signal is also sell or in the same direction.
Stop Loss (SL)
Provide max SL in points above the high/low of the signal..E.g If I put 0 points it means the SL flashes with the high/low and if for example I put 20 points, the SL will be 20 points (2 pips) beyond the high or low of the signal.
Take Profit (TP)
The robot should take TP at specified parameter from entry in relation to SL e.g 1:1R or 1:1.5R or 1:2R etc
Also provide for exit trade after how many bars close e.g. trade to be exited in case 10 bars close but SL or TP hasn’t been hit.
CONCLUSION
I will provide more details in Images and a video guide for all this.
Similar orders
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