DonchianCross
- Experts
- Versione: 1.79
- Attivazioni: 5
This Expert Advisor manages automated trading operations specifically on the 1-hour candle timeframe by monitoring structural price boundaries and historical extremes.
1. Core Price Level Calculations
On the arrival of each new 1-hour candle, the system calculates three structural price zones based on the historical high and low values over a specific lookback period of previous 1-hour candles:
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Upper Boundary: The highest price recorded over the specified period of 1-hour candles.
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Lower Boundary: The lowest price recorded over the specified period of 1-hour candles.
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Median Level: The exact mathematical midpoint between the upper and lower boundaries.
2. Entry Conditions
Trade setups are evaluated immediately upon the completion and close of each 1-hour candle. The system employs two trigger styles, which can be enabled independently or combined:
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Wick Entry: Designed to detect temporary price deviations during the 1-hour interval.
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A Buy signal is triggered if the low of the completed 1-hour candle reached or fell below the median level, but the candle closed back above that median level.
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A Sell signal is triggered if the high of the completed 1-hour candle reached or exceeded the median level, but the candle closed back below the median level.
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Breakout Entry: Capitalizes on clear trend expansions at the hourly close.
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A Buy signal triggers when the close of the completed 1-hour candle settles above the older upper boundary.
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A Sell signal triggers when the close of the completed 1-hour candle settles below the older lower boundary.
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3. Filters and Protection Rules
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Momentum Filter: To align entries with the short-term trend, the system compares the closing price of the most recent 1-hour candle with the closing price of a candle from a set number of periods back. Buying is only permitted if the price has risen over this hourly lookback, and selling is only allowed if it has fallen.
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Directional Locking: To manage risk after a trade exits, consecutive trades in that same direction are temporarily blocked. The lock resets only when a valid trigger in the opposite direction occurs on a subsequent 1-hour candle.
4. Exit and Trade Management
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Trailing Stop: The protective stop-loss is updated dynamically as each new 1-hour candle opens. For breakout trades, it trails using a tight offset from current market prices. For wick entries, it trails relative to the open price of the active 1-hour candle.
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Time-Based Exit: To minimize exposure during periods of low volatility, any trade that remains open for more than the specified number of hours is automatically closed.
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Position Sizing: The trade volume is calculated dynamically based on a defined percentage of account equity or a fixed money value, factoring in the distance from the entry price to the low or high of the triggering 1-hour candle.
