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Specification
I'm looking to automate a strategy using MT4 Renko charts with three indicators:
1. Simple moving average (MA)
2. RSB bands (custom indicator)
3. PV2 (custom indicator)
To open a buy, we need the following at the close of an up brick:
1. MA has to have crossed over or come within "x" pips (variable input) of the bottom RSB band before turning up.
2. PV white line is above the red line.
Closing the trade is by any of the following:
1. SL, if set
2. TP, if set
3. Trailing stop, if set
4. Opposite signal, if set
5. Time close, if set
6. "X" number of bricks (variable input) closing above the top RSB band.
To open a sell, we need the following at the close of a down brick:
1. MA has to have crossed over or come within "x" pips (variable input) of the top RSB band before turning down.
2. PV white line crosses below the red line.
Closing the trade is by any of the following:
1. SL, if set
2. TP, if set
3. Trailing stop, if set
4. Opposite signal, if set
5. Time close, if set
6. "X" number of bricks (variable input) closing below the bottom RSB band.
Attached are a few example charts illustrating the strategy.
Variable inputs would include:
1. Fixed lot size or percentage of balance (based on SL).
2. Buy only, sell only or both.
3. SL, 0 if none.
4. TP, 0 if none.
5. SL to break even after x pips.
6. Trailing stop.
7. Trading start time.
8. Trading stop time.
9. Close trades at stop time?
10. Allow trading on days of the week.
11. Maximum allowed spread
12. Open trade after MA comes within X pips to top/bottom RSB bands .
13. Close trade after X bricks close past top/bottom RSB bands.
14. Indicator settings if needed.
15. Magic Number
16. Close trade on opposite signal?
17.
Please reply with confirmation of Renko experience and price quote.
