All orders
Rules
Specification
Custom Trading Expert Advisor Development
I’m interested in developing a trend continuation expert advisor . Below, I've detailed my requirements to ensure clarity and to facilitate an accurate assessment for our potential collaboration.
Strategy Overview:
FVG= Fair Value Gap
- Objective: To Detect Valid FVGs in Alignment with the Trend. There’s multiple confluences that need to be met for a fvg to be valid in this strategy
Goals:
- FVG Detection: Implementation of the logic if the low of last candle is bigger than the high of two candles before (for bullish), A fvg is detected and if all other conditions determine this FVG valid, a buy limit order is set at the high of the fvg box ( the low of the candle that created the FVG)
- Trend Direction Detection: For the trend detection its important to have a very solid confirmation of short term trend, with a simple Moving Average of low period and checking if its heading up/down, combined with a “on balance volume” indicator as confirmation with fixed values. Additionally, inputs to decide if the FVGs detected are confirming with the bigger timeframe, with last session,previous session, day and week high and low levels (only consider trades if price formed the fvg either close to the level or needs to have formed after crossing any or each of these levels.
- Additional Confluence for larger timeframe Trend Detection:
- A pip range for confluence with weekly/daily/session highs/lows alongside a FVG aligning with it by having crossed or being close to these levels.. A 10-50 pip range, providing a filter that's not too restrictive but still focused enough to identify meaningful price action around significant levels. In more volatile markets, a average spread multiplied by the pip range may provide a wider pip range might be necessary to account for larger price fluctuations, while in less volatile conditions, a tighter range could suffice.
- Entry Signal: Based on price action logic.
The price action logic:
For instance, after a FVG box is generated, it's considered invalid if the price does not retrace into the box within the next 100 bars. Conversely, valid retracement offers two distinct levels of FVG detection strictness. I am interested in backtesting both levels of strictness and comparing various parameter combinations across different currency pairs.
Trade Entry Logic/Trigger:
The trade is triggered once the price retraces inside the FVG box and exits from the same side it entered, with the entry on the subsequent candle( or on the same one that crosses the side of the fvg box). This approach is based on FVG consolidation as a precursor to trend continuation, with the FVG area acting as either resistance or support.
-There’s two Trade entry scenarios.
1st: After the Price re-traces inside the fvg box, a limit order is set on the top of the fvg box (bullish), if Price hits the limit order without crossing the lower end of the fvg box, the trade will be entered. For a more conservative approach to the strategy. (60’ spiry limit order)
2nd: After the Price re-traces inside the fvg box, a limit order is set on the top of the fvg box (bullish), if price hits the limit order before 60 minutes, a trade will be entered.
- Take Profit/Stop Loss: Determined by an ATR (Average True Range) multiplier, targeting an approximate 1:3 Risk-Reward Ratio (RRR). Both variable parameters.
- Break even component to the strategy: With an added section for SL managing, after 60% of take profit is hit, SL is set to entry price.
Here Are the inputs I think the expert advisor should have for the optimisation process as variable parameters:
- close positions after a certain time : 12h
- Order expiry in minutes: 60’
- delete orders after a certain time: 60’
- No limit on set limit orders
- TP/SL : atr multiplier and relation risk reward ratio. Both variable parameters
- Lot size: risk of balance= x%
- Max daily drawdown
- Only one Trade at a time
- Manageable SL: Break even(BE) logic (activated/off) 60% of tp means sl to B.E.
- Operating Hours: Trades should only be executed during specific times: Session1: 9-10 AM/ Session2: 4-5 PM/ Session3: 8-9 PM CTE/ All the time
- Historical HIGH/LOW: Input- Last Session/Previous session/daily/weekly
- Closeness to a Historical High/Low : Average spread * Pips range(10-50). and if they have been crossed
- Volume confirmation: On/Off
- MA 10-100 direction determines wether we’re looking for bullish or bearish FVGs
- Break even : On/Off
I appreciate your time in reviewing my request. I look forward to working together on this project.
Best regards,
Luis Vicen.
Here’s some advice from this website, I’d like to know if you agree to follow the suggested process so That im able to backtest and optimise this EA to the best of my ability, any information is more than welcome :)
- You should understand trade server return codes, as well as runtime errors.
- Make sure to indicate in your Requirements Specification the need to process the results of each important operation and to log error codes. You may additionally enumerate such important operations: sending of trade requests, calculation of Stop Loss and other operations.
- Such messages should use predefined macro substitutions, which will help you to find the reason and exact location of the wrong behavior.