Specification
*Indicator Combination:*
1. *ZigZag*: To identify significant price movements and trend lines.
2. *Donchian Channels*: To plot trend lines based on highs and lows over a specified period.
*Strategy Logic:*
1. *Trend Line Break*: A trend line break occurs when price closes above/below the trend line.
2. *Confirmation*: Additional confirmation can come from other indicators (e.g., RSI, MACD) or price action (e.g., engulfing patterns).
*Benefits:*
1. *Objective Trend Lines*: Automated trend line detection reduces subjectivity.
2. *Improved Decision-Making*: *Strategy Overview:*
1. *Breakout and Retest*: Identify breakouts using price levels and indicator signals, followed by a retest.
2. *Morning Averages*: Utilize moving averages (e.g., VWAP, SMA, EMA) during the first hour after market open to identify trends.
3. *Trend Line Strategy*: Automated trend line detection using ZigZag and Donchian Channels, with trend line breaks as trading signals.
*Trading Logic:*
1. *Entry Conditions*: Combine signals from all three strategies (breakout and retest, morning averages, trend line breaks).
2. *Risk Management*: Set stop-losses and take-profits based on your risk tolerance and market conditions.
*Next Steps:*
1. *Define Parameters*: Specify parameters for each strategy component (e.g., indicator periods, price levels).
2. *Backtesting*: Test the strategy using historical data to evaluate performance.
*Parameters:*
- Breakout and Retest: RSI (14) > 70 for buy signals, < 30 for sell signals
- Morning Averages: VWAP and EMA (20) crossover during the first hour
- Trend Line Strategy: ZigZag (12, 5, 3) and Donchian Channels (20)
*Trading Logic:*
- Long entry: Breakout and retest signal, morning averages crossover, and trend line break above
- Short entry: Breakout and retest signal, morning averages crossover, and trend line break below *Risk management*:
It should give me a complete control over my trading account’s overall profit and loss by managing all open positions at the basket level, rather than individually. The EA should offers a full range of basket-level features, including take profit, stop loss, break even, and trailing stop loss. These can be configured as a percentage of an account balance, a fixed amount in an account’s currency, or a target in average points across all managed trades. This flexibility allows traders to tailor risk and profit strategies to their unique needs. Basket EA MT5 also supports intelligent trade filtering, allowing me to include or exclude specific trades from management based on their magic number, symbol, or comment. This ensures that only the trades I want managed by the EA are affected, while others are left untouched For additional protection, the EA should includes advanced account safeguarding mechanisms.When a specified equity take profit or stop loss level or a maximum drawdown from the account's balance high is reached, the EA can automatically close all open trades, delete any pending orders, and shut down all charts, removing any Expert Advisors running on them. This feature helps protect capital during unexpected market movements or when reaching my predefined account targets. . It Should not use Martingale, Grid, Averaging, or other high-risk techniques
✔️ Allows exclusion of specific Magic Numbers, trade comments, or symbol trades from management
✔️ Basket Take Profit in % for all managed trades combined
✔️ Basket Stop Loss in % for all managed trades combined
✔️ Basket Break Even in % for all managed trades combined
✔️ Basket Trailing Stop Loss in % for all managed trades combined
✔️ Basket Take Profit in money for all managed trades combined
✔️ Basket Stop Loss in money for all managed trades combined
✔️ Basket Break Even in money for all managed trades combined
✔️ Basket Trailing Stop Loss in money for all managed trades combined
✔️ Basket Take Profit in average points for all managed trades combined
✔️ Basket Stop Loss in average points for all managed trades combined
✔️ Basket Break Even in average points for all managed trades combined
✔️ Basket Trailing Stop Loss in average points for all managed trades combined
✔️ Option to reset all Basket settings after each account balance update or after a Basket target is hit
✔️ Option to close all managed trades at break even after recovering from a drawdown
✔️ Option to close all managed trades at a specific time on a chosen day or daily
✔️ Account protection feature that closes all trades and charts when equity-based TP or SL is reached
✔️ Maximum drawdown % from balance high that closes all trades and charts/ EAs if triggered
✔️ Optional on-chart panel to monitor profit/loss and close trades by type or all at once
✔️ Terminal, push notification, and email alerts when any Basket or protection condition is triggered
✔️ 100% automated Expert Advisor ✔️ option for buy or sell direction only
✔️ options to pursue trade at a specific day and time, and continue at a specific day and time as well. ✔️SUPPORTED ASSETS
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
GOLD
1. *ZigZag*: To identify significant price movements and trend lines.
2. *Donchian Channels*: To plot trend lines based on highs and lows over a specified period.
*Strategy Logic:*
1. *Trend Line Break*: A trend line break occurs when price closes above/below the trend line.
2. *Confirmation*: Additional confirmation can come from other indicators (e.g., RSI, MACD) or price action (e.g., engulfing patterns).
*Benefits:*
1. *Objective Trend Lines*: Automated trend line detection reduces subjectivity.
2. *Improved Decision-Making*: *Strategy Overview:*
1. *Breakout and Retest*: Identify breakouts using price levels and indicator signals, followed by a retest.
2. *Morning Averages*: Utilize moving averages (e.g., VWAP, SMA, EMA) during the first hour after market open to identify trends.
3. *Trend Line Strategy*: Automated trend line detection using ZigZag and Donchian Channels, with trend line breaks as trading signals.
*Trading Logic:*
1. *Entry Conditions*: Combine signals from all three strategies (breakout and retest, morning averages, trend line breaks).
2. *Risk Management*: Set stop-losses and take-profits based on your risk tolerance and market conditions.
*Next Steps:*
1. *Define Parameters*: Specify parameters for each strategy component (e.g., indicator periods, price levels).
2. *Backtesting*: Test the strategy using historical data to evaluate performance.
*Parameters:*
- Breakout and Retest: RSI (14) > 70 for buy signals, < 30 for sell signals
- Morning Averages: VWAP and EMA (20) crossover during the first hour
- Trend Line Strategy: ZigZag (12, 5, 3) and Donchian Channels (20)
*Trading Logic:*
- Long entry: Breakout and retest signal, morning averages crossover, and trend line break above
- Short entry: Breakout and retest signal, morning averages crossover, and trend line break below *Risk management*:
It should give me a complete control over my trading account’s overall profit and loss by managing all open positions at the basket level, rather than individually. The EA should offers a full range of basket-level features, including take profit, stop loss, break even, and trailing stop loss. These can be configured as a percentage of an account balance, a fixed amount in an account’s currency, or a target in average points across all managed trades. This flexibility allows traders to tailor risk and profit strategies to their unique needs. Basket EA MT5 also supports intelligent trade filtering, allowing me to include or exclude specific trades from management based on their magic number, symbol, or comment. This ensures that only the trades I want managed by the EA are affected, while others are left untouched For additional protection, the EA should includes advanced account safeguarding mechanisms.When a specified equity take profit or stop loss level or a maximum drawdown from the account's balance high is reached, the EA can automatically close all open trades, delete any pending orders, and shut down all charts, removing any Expert Advisors running on them. This feature helps protect capital during unexpected market movements or when reaching my predefined account targets. . It Should not use Martingale, Grid, Averaging, or other high-risk techniques
✔️ Allows exclusion of specific Magic Numbers, trade comments, or symbol trades from management
✔️ Basket Take Profit in % for all managed trades combined
✔️ Basket Stop Loss in % for all managed trades combined
✔️ Basket Break Even in % for all managed trades combined
✔️ Basket Trailing Stop Loss in % for all managed trades combined
✔️ Basket Take Profit in money for all managed trades combined
✔️ Basket Stop Loss in money for all managed trades combined
✔️ Basket Break Even in money for all managed trades combined
✔️ Basket Trailing Stop Loss in money for all managed trades combined
✔️ Basket Take Profit in average points for all managed trades combined
✔️ Basket Stop Loss in average points for all managed trades combined
✔️ Basket Break Even in average points for all managed trades combined
✔️ Basket Trailing Stop Loss in average points for all managed trades combined
✔️ Option to reset all Basket settings after each account balance update or after a Basket target is hit
✔️ Option to close all managed trades at break even after recovering from a drawdown
✔️ Option to close all managed trades at a specific time on a chosen day or daily
✔️ Account protection feature that closes all trades and charts when equity-based TP or SL is reached
✔️ Maximum drawdown % from balance high that closes all trades and charts/ EAs if triggered
✔️ Optional on-chart panel to monitor profit/loss and close trades by type or all at once
✔️ Terminal, push notification, and email alerts when any Basket or protection condition is triggered
✔️ 100% automated Expert Advisor ✔️ option for buy or sell direction only
✔️ options to pursue trade at a specific day and time, and continue at a specific day and time as well. ✔️SUPPORTED ASSETS
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
GOLD
Responded
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