EA TRADING REVERSALS

reversal play using formations 4 & 5

This algo is to make use of formations 4 & or 5 (same as used in HCS)

With this setup we are wait for a signal to form either 4 or 5. We then wait to see that signal violated within 7 candles (can change in settings)

Definition if violation is price must close above the high/low of the formation.


Example. Lets say we have a Bearish formation 5 form defined as a signal that takes out previous candles high and then closes below the low. We then wait for price to close above the high of that formation to go LONG.

SL placement would be at the low of the formation 5.


Id like 4 different magic numbers.


Formation 4 Bearish Violation -
Formation 4 Bullish Violation -
Formation 5 Bullish Violation -
Formation 5 Bearish Violation -

EA should have option of fixed lot or A % on capital.

TP to be SL multiplier - Default 2 x ie if SL is 1% risk TP is 2%

I would like option to close 75% when first TP is reached and set remaining to break even + pips with new TP at previous weeks high or low

max positions allowed setting.

Re signal definition please add the body % filter you added to HCS