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Rules
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Specification
REQUIREMENTS SPECIFICATION
I would like an Expert Advisor created for me. The expert advisor will work based on data from two indicators.
I have attached two indicators: the Heiken Ashi indicator and the Apex Point indicator.
The rules are the following:
BUY TRADE:
Basic Mode:
1. Check that the Heiken Ashi candle has changed from Red to Blue.
2. Check that the Apex indicator is in the oversold condition. An oversold condition is defined by the following: White line has a value of less than or equal to -6, has crossed the green line from above and has crossed the yellow line from below. Please note that at the moment of trade execution, the white line need not be less than or equal to -6, it simply should have been less than or equal to -6 before crossing the yellow line.
3. At the moment of formation of a bearish HA candle, move stop loss to BE (+X)
Aggressive Mode:
4. If a bearish HA candle appears after a bullish HA candle, and there are no open trades for that pair, check back in history if we are coming from an overbought or oversold region. If we are coming from an oversold region, open a buy trade. The trade management controls for the basic mode also apply to the aggressive mode:
Exit Criteria
Two Exit Options:
(i) Exit a buy trade when the Heiken Ashi candle has changed from Blue to Red (In this case, (3) above will not apply since the trade will be closed
(ii) Exit a buy trade when the Apex indicator is in the overbought condition
(iii) From (3) above, if a second bearish HA candle forms, then close the trade.
SELL TRADE:
Basic Mode:
1. Check that the Heiken Ashi candle has changed from blue to Red.
2. Check that the Apex indicator is in the overbought condition. An overbought condition is defined by the following: White line has a value of greater than or equal to +6, has crossed the green line from below and has crossed the yellow line from above. Please note that at the moment of trade execution, the white line need not be greater than or equal to +6, it simply should have been greater than or equal to +6 before crossing the yellow line.
3. At the moment of formation of a bullish HA candle, move stop loss to BE (+X)
Aggressive Mode:
4. If a bullish HA candle appears after a bearish HA candle, and there are no open trades for that pair, check back in history if we are coming from an overbought or oversold region. If we are coming from an overbought region, open a sell trade. The trade management controls for the basic mode also apply to the aggressive mode:
Exit Criteria
Two Exit Options:
(i) Exit a sell trade when the Heiken Ashi candle has changed from Red to Blue (In this case, (3) above will not apply since the trade will be closed
(ii) Exit a sell trade when the Apex indicator is in the oversold condition
(iii) From (3) above, if a second HA bearish candle forms, then close the trade.
(iv) Exit a sell trade when the Heiken Ashi candle has changed from Red to Blue and the Apex indicator is in the oversold condition.
STOP LOSS Settings:
This applies to both the basic and Aggressive modes. Stop loss will be placed X number of pips above the high (or low depending on trade direction) of the last Y number of candles before the signal candle. If calculated SL based on this method is higher than Z number of pips, then don't take the trade. There should also be an option to adjust stop loss to add the spread to the stop loss pips. Stop loss should be invisible to the broker (hidden).
Others:
1. Automatic and manual lot sizing options
2. EA will not take trades before and after major news (30 mins before and after).
3. EA will not take trade when the signal candlestick height is more than (ATR/X)
4. Trailing stop will be pip by pip trailing or in steps. Trailing stop to be activated after X number of pips in profit.
5. EA will be attached on each chart
6. Session and Time filter
Please note the use of the word oversold condition and overbought conditions. The rules are clearly defined above. Do not confuse them for oversold and overbought regions.
EA will be attached on each chart
Source code and EA will be delivered to me as part of the package