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PHAROAH EA
INDICATOR
THE CUSTOM INDICATORS WILL BE PROVIDED BY THE CUSTOMER.
1. RENKO_SIGNAL
2. RENKOMAKER_CONFIRM
TRADING STRATEGY
1. BUY ORDER
EXECUTE BUY ORDER:
1. IF RENKO_SIGNAL CHANGES COLOUR FROM RED TO LIME (CANDLE CLOSED).
2. IF RENKOMAKER_CONFIRM CHANGES COLOUR FROM RED TO LIME (ABOVE ZERO FROM BELOW){CANDLE CLOSED}.
2. SELL ORDER
1. IF RENKO_SIGNAL CHANGES COLOUR FROM LIME TO RED (CANDLE CLOSED).
2. IF RENKOMAKER_CONFIRM CHANGES COLOUR FROM LIME TO RED (BELOW ZERO FROM ABOVE) {CANDLE CLOSED}.
TRADE MANAGEMENT CONDITIONS
1. PROVIDE OPTION FOR INPUT FIXED LOT.
2. THE EA SHOULD USE SPECIFIED PERCENT OF ACCOUNT SIZE TO EXECUTE ANY TRADE (IT MUST BE INPUT BY THE USER).
3. ADD TRAILING STOP LOSS ORDER (VALUE MUST BE INPUT BY USER).
4. IT MUST CONTAIN TAKE PROFIT AND STOP LOSS FUNCTIONS.
5. IT MUST TRADE ALL TIME FRAMES AND ALL INSTRUMENTS.
6. THE EA MUST EXECUTE ONE TRADE AT A TIME (TRUE/FALSE).
7. PROVIDE OPTION FOR BREAK EVEN IF PRICE MOVES IN YOUR DIRECTION FOR A CERTAIN NUMBER OF POINTS (NUMBER OF POINTS SET BY THE USER).
8. PROVIDE OPTION FOR TIME FILTER (TRUE/FALSE). START TIME AND END TIME MUST BE INPUT BY THE USER.
9. PROVIDE OPTION FOR THE EA TO CLOSE ALL POSITIONS AT THE END OF TIME SPECIFIED (TRUE/FALSE). TIME INPUT BY USER.
10. USE RENKO_SIGNAL (TRUE/FALSE).
11. EXIT ORDER IF THE RENKOMAKER_CONFIRM INDICATOR CHANGES TO OPPOSITE COLOUR (TRUE/FALSE).
12. EXIT ORDER IF THE RENKO_SIGNAL INDICATOR CHANGES TO OPPOSITE COLOUR (TRUE/FALSE).
13. PROVIDE OPTION FOR NEWS FILTER (TRUE/FALSE)
14. START OF NEW MONTH LOT SIZE RESET (TRUE/FALSE), THE EA SHOULD RESET ORIGINAL LOT SIZE AT THE END OF EVERY MONTH BASED ON THE ACCOUNT THE SIZE.
15. ACTIVATE RECOVERY FACTOR (TRUE/FALSE). ACTIVATE RECOVERY FACTOR:
A. IF THE TRADE EXECUTED IS IN LOSS BEFORE ANOTHER ENTRY CONDITION IS MET.
B. MULTIPLY THE ORIGINAL TRADE’S LOT SIZE BY TWO(2) TO EXECUTE THE SECOND ORDER TO KILL THE FIRST TRADE.
C. IF THE SECOND TRADE EXECUTED IS STILL IN LOSS AND ANOTHER ENTRY CONDITION IS MET, MULTIPLY THE SECOND TRADE’S LOT SIZE BY TWO (2) TO EXECUTE THE THIRD ORDER TO KILL THE FIRST TRADE AND SECOND TRADE. THIS PROCESS SHOULD CONTINUE UNTIL THE SUMMATION OF RUNNING TRADES OF THAT PARTICULAR PAIR OR INSTRUMENT IS IN PROFIT AND IF THE MOST RECENT ORDER’S EXIT CONDITION IS MET, AND THE EA SHOULD CLOSE ALL THE OPENED POSITIONS OF THAT PARTICULAR PAIR OR INSTRUMENT AT SAME TIME WITH THE MOST RECENT ORDER.
D. THE EA SHOULD RETURN TO ITS ORIGINAL OPERATING MODE AFTER CLOSING ALL RECOVERY FACTOR ACTIVATED POSITIONS.
E. NOTE THAT IF THE RECOVERY FACTOR IS BEING ACTIVATED, THE EA MUST IGNORE EXIT CONDITIONS UNTIL THE PURPOSE OF ACTIVATING THE RECOVERY FACTOR IS BEING ACHIEVED. (REFER : 15.C).
F. MULTIPLIER VALUE MUST BE INPUT BY USER. FOR EXAMPLE: 1,2, 3, 4, 5, ETC.