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I am currently trading this system manually with great results and would like to automate it. If you have any questions, feel free to ask.
All trades currently risk 0.5% of account balance.
Maybe the initial risk and take profit could be variables that are set within the EA.
Indicators:
- Parabolic SAR (Start: 0.02, Increment: 0.02, Maximum: 0.2, Point Width: 2)
- Schaff Trend Cycle (MACD Fast: 23, MACD Slow: 50, Cycle Length: 10, 1st %D: 3, 2nd %D 3, Upper Band: 75, Lower Band: 25)
- RSI (Length: 14)
- 200 EMA
Buy Signal:
- Price is above the 200 EMA
- RSI is above 50 (the center line)
- Schaff Trend Cycle (STC) is at or above 25 and trending up
- Buy when Parabolic SAR prints a dot below the price on the chart
- Set stop loss 1 pip below the SAR dot
Sell Signal:
- Price is below the 200 EMA
- RSI is below 50 (the center line)
- Schaff Trend Cycle (STC) is at or below 75 and trending down
- Sell when Parabolic SAR prints a dot above the price on the chart
- Set stop loss 1 pip above the SAR dot
Money Management:
- Set take profit at 1.5 times the stop loss
- Trailing stop loss begins at 0.5 times the stop loss
- Also close 33% of the trade at 0.5 times the stop loss
- Then close 33% of the trade at 1.0 times the stop loss
- Close remainder of the trade at 1.5 times the stop loss
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