The Pinnacle expert adviser is based off the Three Peaks Indicator (Read More). I have received a lot of reviews so here it is, I've finally got the time to develop the Three Peaks Expert Adviser version namely Pinnacle.
Pinnacle can trade in both directions(up or down). I have spent a lot of time to figure the right ratio of TakeProfit against StopLoss. Based of popular belief the TakeProfit is twice as the StopLoss. a 2:1 Relationship, you can set your own ratio by using n_tp and n_sl.
//How to calculate the TakeProfit TakeProfit = Price + (Price - peak_1) * n_tp; //How to calculate the StopLoss StopLoss = Price - (Price - peak_1) * n_sl; n_tp: the multiplier distance between Price and first peak's closing price n_sl: the multiplier distance between Price and first peak's closing price price: the price of the trade, ask price or sell price peak_1: the closing price of the first peak peak_2: the closing price of the second peak peak_3: the closing price of the third peak
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You are able to set your own TakeProfit and StopLoss multiplier. If you do not set TakeProfit and Stoploss, Pinnacle will open trades with TakeProfit and StopLoss width n_tp = 2 and n_sl = 1, by default.
trade_direction: set which direction you would like to trade on, Up, Down or Both direction, by default is set to Up.
|DOWN||Open only buy orders on three peaks, trending up.|
|UP||Open only sell order on three peaks, trending down.|
|BOTH||Open sell and buy order, on trend down and up respectively.|
PLEASE NOTE THIS VALUE IS CASE SENSITIVE: use DOWN, UP or BOTH (all upper case)