I will like to write an EA swing trading bot

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Tempo di esecuzione 3 giorni
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Specifiche

I will like to write an EA swing trading bot with the following rules for entry:

 

Step 1: Identify Support and Resistance Levels

Timeframe Selection: Daily

 

 

Identify Key Support and Resistance Levels:

 

Support Level: Look for areas where the price has historically had difficulty falling below the Daily support.

Resistance Level: Look for areas where the price has historically struggled to rise above the daily Resistance.

Use Trendlines and Horizontal Lines:

 

Draw trendlines connecting swing lows for support and swing highs for resistance.

Mark horizontal lines at significant price levels where reversals or strong bounces have occurred.

 

Step 2: Wait for Confirmation

Price Approaching Support/Resistance:

 

Wait for the price to approach a support or resistance level.

Candlestick Patterns:

 

Look for bullish candlestick patterns bullish engulfing near support levels.

Look for bearish candlestick patterns bearish engulfing near resistance levels.

 

Step 3: Confirmation

Use technical indicators like RSI to confirm the potential reversal.

Look for divergence between price and indicators for additional confirmation.

 

Step 4: Entry, Stop Loss, and Take Profit

Entry Signal:

 

Enter a long trade if the price bounces off a support level and shows confirmation signals.

Enter a short trade if the price is rejected from a resistance level and confirms a reversal.

 

Stop Loss:

 

Place a stop-loss order just below the support level for long trades with 50 pips

Place a stop-loss order just above the resistance level for short trades with 50 pips

 

Take Profit:

 

Set a take-profit target based on the distance between the entry point and the support/resistance level.

Consider using a risk-reward ratio to set profit targets.

 

Step 5: Risk Management

Risk-Reward Ratio: 1:3

 

Ensure that the potential reward justifies the risk taken on each trade.

Position Sizing:

 

Use a lot size of 0.5 for all trades

 

Trading period is only within 6am to 6pm CET time zone

 

Drawdown: 1% a day

 

Market Conditions: only for trending markets


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Informazioni sul progetto

Budget
50+ USD
Per lo sviluppatore
45 USD
Scadenze
a 10 giorno(i)