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Hello all,
I have a need for someone who can make an EA out of the Blahtech supply and demand indicator: https://www.mql5.com/en/market/product/13712
I need two possible trades from this EA:
SD trade 1) Rejection of supply or demand zone:
Buy order - price moves down into a demand zone (light or dark blue) but doesn't break the zone.
Enter a buy order on the open value of the next candle if the current candle closes above the zone.
Sell order - price moves up into a supply zone (orange or red) but doesn't break the zone.
Enter a sell order on the open value of the next candle if the current candle closes below the zone.
These trades are also filtered by the strength of the zone (a strong zone is red or dark blue) and score value of the zone (1-8).
Default score for a zone to be valid order is 5, default value on strenght is to accept both weak and strong zones (orange and red).
Example 1) Price moves up and closes above a demand zone with a score of 6. Open a buy order.
Example 2) Price moves down and out of supply zone (orange) but the value of the zone is 3, don't open sell order.
Example 3) Here there is first a buy order after the price closes above blue zone, and sell order when price moves down and closes
below red zone.
SD trade 2) If a strong SD zone appears:
Buy order - a strong demand zone (dark blue) appears shortly after the zone is created, enter a buy order on next open candle.
Sell order - a strong supply zone (red) appears shortly after the zone is created, enter a sell order on next open candle.
These trades are filtered by how many bars since zone creation. Default value is 10 bars.
If a weak zone turns strong after 10 bars then don't open trade.
Another filter is minimum amount of pips between price and zone to allow trade. Default value is 40 pips
Example 4) Here there is a strong demand zone (dark blue) appearing after 6 bars, but the price is over 40 pips away from the top of the zone, don't open trade.
Example 5) Here there is a strong supply zone (red) appearing, but it appears after 40 bars, don't open sell order.
Example 6) Here there is a strong demand zone (dark blue) appearing after 2 bars (blue arrow 1), but it is 65 pips away from zone. When the price moves down to 40 pips from the zone, then open buy trade.