Kangaroo Tail EA

The Principal of the Kangaroo Tail is to identify a reversal in the market, the price action will form a Long Tail and smaller candle body.

• The size of the body (ratio) to wick needs to have parameters that can be changed so that you can specify that the body should be x% in relation to the tail (Or "wick" if you prefer) Some people might refer to these Candles as Shooting Stars.

• There needs to be a parameter to set that specifies "Room the the Left" (So that there has been no price action within "X" number of candles before the Kangaroo tail)

• There needs to be a parameter set so that if within the "X" number of preceding candles is of "X" size or equal to the Kanga Candle size - Dont trade.

• The Candle Body of the Kangaroo tail Candle needs to be within the previous candles (Wick and or wick and body)

• Trade only with Trend option - Each TF needs to have 3 drop down options - Required / Optional / Not required

• A licence Key per installed instance of the EA

• Lot size Management - (Logarithmic Compounding)  Fixed Lot Size (True / False)

Set Lot size for trades

• Lot size based on % of account size   

See image - the trade is taken at the point the market moves in the right direction (i.e. Plus "X" pips above the candle high of the Kangaroo Candle) to confirm the market direction - Or you can specify "Place pending at the top of the preceding candle"

• Identify a support zone / resistance zone 
  “ the ea has to identify zones where supply and demand zones are “ the strength of these zones is defined by the number of times price has rebounded from several times “ the number of times can be specified with the options
  
• For the bullish kangaroo tail, you can place a buy stop a few pips above the high of the candle. For the bearish kangaroo tail, you can place a sell stop a few pips below the low of the candle. In both cases, the trade entry is delayed until the market moves in the expected direction. Inputs of the expert advisor are:
  

• MagicNumber - unique number to be used to identify operations managed by the EA
• ExpertComment - used to quickly identify operations related to the strategy in the live and historical operations
• Prefix - prefix used by broker (for instance if symbol is called xGBPUSD then Prefix is x).
• Suffix - suffix used by broker (for instance if symbol is called GBPUSDfx then Suffix is fx).
• CandleSizeATR - filter size of Kangaroo Tail candles as a minimum factor of the ATR value (recommend values from 1.0 to 1.4)
• TradeDirection (shortandlong/shortonly/longonly) - used to filter signal and eventually go with the main trend
• EntryStopPoints - distance in points for the STOP (BUY_STOP/ SELL_STOP) order place above the high (or below the low) of the Kangaroo Tail candle
• StopLossPoints - distance in points for the protective stop loss below the low of the candle (or above the high of the candle)
• ProfitManagement (TpNone,TpBasedOnAtr,TpBasedOnRiskReward,TpFixedPoints) - calculation mode for the take profit
• TpAtrDistance - multiplier to be used for the calculation of the take profit (recommend 0.5 to 3.0)
• TpRiskReward - multiplier of the risk (stop distance) to calculate take profit (recommend 0.5 to 3.0)
• TpDistancePoints - distance in points from the entry to calculate take profit 
• MoveSLBreakEvenPoints - positive distance in points from the entry to move Stop Loss to Break Even (0.0 means feature disabled)
• UseTimeManagement - activate time of the day filter (see below), no trades will be taken out of this time
• StartTime - local time used as the start of the robot working time to look for new trade opportunities
• EndTime - local time used as the end of the robot working time to look to new trade opportunities
• RiskMode (mFixedLot/mRiskPercent/mRiskUSD) - specify the mode to be used for the risk calculation of each trade operation
• FixedLotSize - use a fixed volume size for the volume to be traded in each operation
• RiskPercent - percentage to be used to calculate risk based on the current equity of the trading account
• RiskUSD - use a fixed risk expressed in USD, the EA will do the calculation of the corresponding volume depending on the broker and the instrument
• UseLevels - filter trading operations and only enter operations where robot found clear support/resistance zone
• Use_W1 - use levels identified in the W1 time frame.
• Use_D1 - use levels identified in the D1 time frame.
• Use_H4 - use levels identified in the H4 time frame.
• Use_H1 - use levels identified in the H1 time frame.
• Gold EUR - name of symbol (for instance XAUEUR) used by your broker platform.
• Gold USD - name of symbol (for instance XAUUSD) used by your broker platform.
• Silver EUR - symbol name.
• Silver USD - symbol name.
• WTI USD - symbol name.
• Brent USD - symbol name.
• Natural Gas USD - symbol name.
• Platinium USD - symbol name.
• Australia 200 - symbol name.
• China A50 - symbol name.
• Eurostock 50 - symbol name.
• Cac 40 - symbol name.
• Dax 30 - symbol name.
• Italia 40 - symbol name.
• Nikkei 225 - symbol name.
• Hang Seng 50 - symbol name.
• FTSE 100 - symbol name.
• Nasdaq 100 - symbol name.
• Spain 35 - symbol name.
• Wall Street 30 - symbol name.
• SP 500 - symbol name.
• Russel 2000 - symbol name.
• Dollar Index - symbol name. 

The Kangaroo Tail indicator can be used with any time frame.

The Kangaroo Tail indicator can be used with any class of asset: Forex, Stocks, Indices, Metals.