Expert built to use ASCtrend as trend only

Long Trades 

1. Use the ASC indicator to determine if the algo is searching for long or short opportunities 

2. For long trades, the algo needs to identify the fractal as it's made, and for long trades place the trade once the fractal is set.

3. Stop loss for longs should be placed under the fractal

4. The algo should have a hard target option that can be manually changed in this case we are targeting 10 points

Short Trades

5. Use the ASC indicator to determine if the algo is searching for long or short opportunities 

6. For short trades, the algo needs to identify the fractal as it's made above and place the trade once the fractal is set.

7. Stop loss for shorts should be placed above the fractal

8. The algo should have a hard target option that can be manually changed. In this case, we are targeting 10 points.

What happens when the trade hits Stop-loss?

• Add 1 contract and let the algo wait until the next opportunity using MM 

• The hard profit target is gone now. It wants to 0 out the negative trade. 

• Repeat this process until the loss is net 0 

• Start over with the original setup 

What happens if the Algo hits a sum of winners?

• There should be a daily goal that the user can set that once hit will turn off the algo until the next day

How to stop it from trading weird hours?

• There should be time management this way a user can set the times they want it to trade

Money Management

• Lot size starts at 1. Can be a variable the end user can select.

• If loss - we add x number of contracts - to be a variable that the end user can set. This option can also not be enabled, so option to enable or disable add on loss. 

• There needs to be a daily profit and loss target set. Also can be enabled/disabled by the end user. 

• Stop loss is set just above the fractal - because we use a netting account this needs to be a hidden stop also referred to as a virtual stop. 

Note:

Fractals should only be taken in the direction of the asc trend indicator for example for longs it should only trigger the fractals underneath price, and for shorts it should only trigger trades with fractals that appear above price