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Rules
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Specification
PipFinite EA
The following is specification for an EA based on the Pipfinite Indicators Trend Laser and Razor Scalper using Icustom feature.
Please quote and state expected development duration, including when you expect to start work.
Trade Entry
Trade size defined by fixed Lot or % account compared to risk (based on SL value)
Ability to define which Trading Time Frame (TTF) the EA is principally basing trade entries on
Trade Entry Checklist:
o Success rate of this pair is >x% (as defined by Trend Laser indicator)
o New laser signal presents on TTF
o Direction of potential trade correlates with Secondary Time Frame/s (STF). Settings must allow for multiple STF’s to be selected (true/false parameter).
o PipFinite Razor Scalper background colour correlates with potential trade on TTF (true/false parameter)
Filters
o Pivot Point Distance. Do not trade if the direction of the potential trade is X pips away from a pivot point (indi provided). Feature is disabled when set to 0. Using FXIPivots indicator.
o RSI values are not above/below defined levels (true/false parameter and ability to define RSI values)
o Volatility filter - There must be a volatility filter to discard trades when the signal candle is x% larger than the preceding Y candles. For example – do not trade based on a signal candle that is 200% larger than the average of preceding 15 candles. There must be two options for this filter - MaxVolatility and MinVolatility. Maximum will not allow trades above X% over Y candles. Minimum will only trade above X% over Y candles. Both options must be available on the same trade. See https://i.gyazo.com/76fe6985727b96309aa34eb44e3c6feb.png
o Magic Number
o There must be the ability to define 4 separate trading times. For example:
- Trade Period 1 = 09:15 – 10:55
- Trade Period 2 = 11:05 – 13:15
- Trade Period 3 = 14:15 – 15:50
- Trade Period 4 = 16:10 – 17:30
Money Management
Initial Stop Loss: Options for SL are:
- defined by X% of Minimum Move value. Example If StopLoss = 200 and MM is 22 pips then the initial Stop Loss will be set at 44 pips.
- Recent Swing High/Swing Low
- Moving Average (with standard MA settings available)
Partial Close feature: The ability to define partial closes of trade based on achievement of targets defined by Trend Laser. Each level will have percentage of trade value. Definitions for TP in Trend Laser are Minimum Move (MM) and Average Profit (AP). Both MM and AP are concepts and values provided by the Trend Laser indicator.
o Example:
PartialCloseTrigger = MM; AP
PercentClose = 50; 25
This example would close 50% of trade when Minimum Move is reached, then 25% (of original trade size) when Average Profit is achieved. The remaining 25% of trade will be managed by trailing stop
o Example 2:
PartialCloseTrigger = AP
PercentClose = 50
This example would close 50% of trade when AP is achieved and the remaining 50% of trade will be managed by trailing stop
o Example 3:
PartialCloseTrigger = MM
PercentClose = 25
This example would close 25% of trade when MM is achieved and the remaining 75% of trade will be managed by trailing stop
Trailing Stop: Will be defined based on one of three options: Pip Value, when Minimum Move has been achieved (MM) or when Average Profit has been achieved (AP).
TrailTrigger will define when the trail will be activated. Options for TrailTrigger are MM, AP or pip value
TrailStart will define the first trailing point. If TrailTrigger is set to MM or AP, the value in TrailStart will defined as a percentage between trade entry and TrailTrigger. Example: If TrailTrigger = MM and TrailStart = 50 then the trail will begin 50% (halfway) between the trade entry price and the MM value.
TrailStep will define the size of steps. The type of TrailStep is determined by the TrailStart setting used. When TrailTrigger = pips, the TrailStep will be a pip value. When TrailTrigger = MM or AP, the TrailStep will be a percentage of Trailstart.
Example can be seen in accompanying JPG.
https://i.gyazo.com/50791409be37255a9a49c26132cea09a.jpg
BreakEven: This option breakevens the open order to ‘BreakEven_To_Pip’ when the pip profit reaches ‘BreakEven_At_Pip’. For Example as soon as a sell order hits 40 pips profit (BreakEven_At_Pip) the EA sets Stoploss 2 pips in profit (BreakEven_To_Pip).
Other
- Alerts and emails notifications