Watch how to order a trading robot
First for directional bias we use The moving
average cross over . When the fast crosses the slow MA that is the directional
bias for all trades until it crosses again. This will be on the higher
we have our bias we look for fractals to be breached in the opposite direction
on the Middle Timeframe.
look like this http://prntscr.com/d14udy they are swing
highs/lows or turning points in price
technically fractals but are invalid because they are not turning points. http://prntscr.com/d14vt2 most are just going in the same direction. Not
sure best way to tackle this but I believe having a minimum number of candles
after the fractal eg 7/8 may help reduce these mistakes. http://prntscr.com/d152am Like here price is just going down a little
fractal is made but its not a swing high, price has not moved upwards so this
fractal should not be valid to trade from.
There are 2
modes for mtf breach and close. For breach all price has to do go above/below
the fractal this is enough to look for entries on ltf. For close price must
close on the mtf below the fractal level if we were looking for a short. This
should normally happen quick so having a setting for maximum amount of candles
before close would be needed. http://prntscr.com/d15a0u the target is the
next fractal low on mtf.
entry we look for on lower timeframe there are 2 entries Fractal Level and ATM
level: http://prntscr.com/d15dfw when we get to ltf we need a breach of a fractal
on the ltf. price must close on the other side of the fractal. When price
closes a limit order is made for entry at fractal and stop loss at the high of
candle after the fractal was breached. target is the mtf fractal low. Limit
orders should be cancelled if price hits target before enter and if risk:reward
ratio is less than 1:1. Would be good to have a pip offset setting for entry
and sl to give price a buffer. And if you could factor in spread that would be
also needs ltf fractal level to be breached and closed but limit order is set
different it's based on the fractal of which breaches the fractal level. http://prntscr.com/d15l9h This fractal will be used for entry after price
has closed below the lft fractal level.
entry the highest buy candle in the fractal is used for entry and sl. if they
are all down candles in the fractal or there is like a doji pin bar where its
not clear its an up candle then use the highest candle in the fractal.
you use the low of the candle for entry and the high of the candle for sl and
mtf fractal is still the target. http://prntscr.com/d15oiy
Days of the
week looking for entries
multiple entries and how many
of the day allowed for entry. this my be more than 1 so eg 08:00- 10:00 and
12:00 - 14:00 and can these times on settings be inline with broker time.
Optional HTF MA bias. If this setting is turned off on ltf we can look for
entry in both directions. If turned on only trading inline with the MA cross
Have option of Fractal or ATM entry. Entries are exactly the same as 1st EA but
now there is no mtf and target is the next fractal on the ltf.
additional settings can also be added