Expert Advisor Programming

Trading Strategy Specification  

1. Trend Identification: The overall trend must be Bullish (Upward).
   (Note for the programmer: Define the bullish trend using higher highs/higher lows structure or a specific Moving Average).
2. Fibonacci Retracement: The price must correct downwards to touch or test the 61.8% Fibonacci level, drawn from the most recent swing low to the swing high.
3. Entry Trigger: After touching the 61.8% level, look for the lowest low of the last two consecutive bearish candles. The Buy Market Order must execute immediately upon the close of the current candle, provided it closes above the highest point of those two lowest bearish candles.

• Stop Loss (SL): Placed automatically a few pips below the lowest low of the correction candle (the lowest tail in the setup).
• Take Profit (TP): Placed exactly at the recent swing high of the chart (the 0% Fibonacci extension level).

• Account Capital Reference: An option to manually define the capital amount used for the 5% risk calculation, or choose to use the live "Account Balance/Equity" dynamically.
• Take Profit (TP) Modifier: An option to toggle between the default strategy TP (the chart swing high/low) or a manually entered fixed TP value in pips.

• Should we combine the Buy setup, Sell setup, and these Risk rules into one single document for your developer?
• Do you want the 5% risk calculated based on the Account Balance (fixed cash) or Account Equity (which changes with floating trades)?