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Rules
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Specification
Create an EA to trade deriv Synthetic indices (Specifically Volatility 75(1s). The EA should trade everyday including weekends since deriv synthetic indices are open 24/7 even on weekends
Buy Entry Conditions:
1. Wait for the market to form a Double Bottom (W) pattern at the support level.
2. The 10-period Exponential Moving Average (EMA) should cross above the 20-period EMA, indicating an uptrend.
3. The 50-period EMA should cross above the 10-period and 20-period EMAs, with the 10-period and 20-period EMAs on top of the 50-period EMA, forming a strong support level.
Buy Exit Conditions:
1. Close all Buy trades when a Double Top (M) pattern is formed, and the 50-period EMA crosses above the 10-period and 20-period EMAs.
2. As long as the 50-period EMA is below the 10-period and 20-period EMAs, continue holding the Buy trades.
Sell Entry Conditions:
1. Wait for the market to form a Double Top (M) pattern at the resistance level.
2. The 10-period EMA should cross below the 20-period EMA, indicating a downtrend.
3. The 50-period EMA should cross below the 10-period and 20-period EMAs, with the 10-period and 20-period EMAs below the 50-period EMA, forming a strong resistance level.
Sell Exit Conditions:
1. Close all Sell trades when a Double Bottom (W) pattern is formed, and the 50-period EMA crosses below the 10-period and 20-period EMAs.
2. As long as the 50-period EMA is above the 10-period and 20-period EMAs, continue holding the Sell trades.
Additional information:
1. Open 5-7 trades simultaneously with the same lot size when the entry conditions are met.
2. Set a daily Stop Loss and Take Profit target in dollars ($), not points.
3. Include a filter to avoid opening trades during market contractions or consolidations.
4. Once the daily Take Profit target is reached, stop trading for the day and wait for the next day.
5. Implement news filters to avoid trading during high-impact news releases.
