SHS_HA EA

1. Trend Filter (Higher Time Frame Bias)

• Selectable time frame (e.g., 4H chart).

• Indicator: Parabolic SAR (Enable/Disable option).

  • Sell Bias: PSAR dots above candles.

  • Buy Bias: PSAR dots below candles.

2. Entry Conditions (All Conditions Must Align)

• EMA Filter:

  • If price is below the “X” EMA and higher time frame bias is Sell, only consider Sell setups.

  • If price is above the “X” EMA and higher time frame bias is Buy, only consider Buy setups.

  • Parameters:

    • Editable EMA period.

    • Enable/Disable option for this confirmation.

• Pattern Confirmation (Enable/Disable option):

  • Enter a trade when a Shoulder-Head-Shoulder (SHS) pattern appears in alignment with a Heiken Ashi color change.

  • Example Entry (Sell Setup):

    • Confirmation 1: 4H Parabolic SAR bias = Sell.

    • Confirmation 2: Price is below 200 EMA.

    • Confirmation 3: SHS price action detected.

    • Confirmation 4: Heiken Ashi candle changes color from blue to red.

    • Entry: At the close of the right shoulder candle.

    • Stop Loss: Set at the high of the head candle. (Vice versa for Buy trades.)

3. SHS Pattern Requirements

To validate a Shoulder-Head-Shoulder pattern:

1. Head candle high must be higher than left shoulder high.

2. Right shoulder high must be lower than head high.

3. Right shoulder candle close must be below the head candle close.

4. Head high/low must be greater/lesser than the last “X” number of candles (e.g., head high is the highest among the last 4 candles for a Sell pattern).

4. Trade Management Options

• Trade Direction Filter:

  • Option to allow only Buy or only Sell trades.

• Time Range Filter:

  • Only take trades within a specified time window (e.g., 10:00 to 16:00).

• Risk Management:

  1. Risk as a percentage of account balance.

  2. Stop Loss Offset (in points) – Additional buffer on SL.

  3. Break-Even Trigger (RR) – When price reaches defined RR, SL moves to break-even.

• Take Profit and Trailing Stop:
  4. Fixed Take Profit (optional).
  5. Trailing Trigger RR – Number of RR to reach before activating trailing SL.
  6. Trailing RR – Number of RR behind the price the SL should trail.

  • Example: If Trailing Trigger RR = 2 and Trailing RR = 1, once price reaches 2RR, SL is placed at 1RR behind. With every additional 1RR, SL also moves 1RR.

• Other Options:
  7. Trade Close Time – Time to exit all trades.
  8. Trading Days Selector – Choose which days to trade.
  9. Friday Close Time – Auto-close all trades before market shutdown.