All orders
Rules
Specification
1. working on 1 Hr, 4 Hr and 1 Day Time frame using HEIKEN ASHI CHART
2. for BUY trades only
3. place BUY order when 1. MACD histogram crosses the Signal Line from bottom up, 2. Heiken Ashi Bar is WHITE indicating prices is UP.
4. Conditions for ENTRY : 1. ATR (14) >=15 for 1 hr, 30 for 4 Hr and 50 for 1-Day time frame
5. To set Take Profit = Entry Price + 2 X ATR(14) and Stop Loss = Entry Price - 2 x ATR(14)- Spread
6. After BUY Entry, Open Pending Order ( SELL STOP) at Price = Entry Price - ATR(14), and
Take Profit = Entry Price - 2 x ATR(14) and Stop Loss = Entry Price + 2 X ATR(14) + Spread
Lot Size = 2.2 x Initial Lot Size
7. IF (6) above is HIT, then Open Pending Order ( BUY STOP) at Initial Entry price with Take Profit & Stop Loss same as (5) above
BUT with Lot Size = 2.4 x Initial Lot size.
8. IF (7) above is HIT, then Open Pending Order (SELL STOP) same as (6) above BUT with Lot Size =4.8 x Initial lot Size.
9. IF (8) above is HIT, then Repeat (7) above BUT with Lot Size = 7.4 x Initial Lot Size.
10. IF (9 ) above is HIT,then Repeat (8) above BUT with Lot Size = 15.0 x Initial Lot Size.
11. EXIT RULES : If price reaches { Entry Price + ATR(14)} BEFORE the 1ST Pending Order is HIT then move STOP Loss to Break Even
and remove Take Profit and let price move until the WHITE Heiken Ashi candle changes to RED colour, then exit the trade.
12. Close All Open trades including Pending Order after either Take Profit Target hit or Trade Exit as (11) above.
13. Risk Management : 1. Risk Capital = % of Account Balance ( % MUST be an INPUT !!)
2. Initial Lot Size = Risk Capital / ATR(14)/22 ( Make it 2 decimal !!)
14. Look for New trade after all existing trades are closed.
NOTE : After trade is opened, it should be able to be manually intervened.
GBPJPY CHART IS INCLEDED TO SHOW ENTRY CONDITION. ( MACD Cross Over Signal Line )
