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Hi,
I like to have a indicator, which draws a rectangle on the chart.
for example: When I apply the rectangle indicator to a H1 chart, a rectangle will be drawn from time value TM1 to TM2.
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if D1 candle from yesterday was completly above SMA(D1), then yesterdays D1-low is the lower line of the rectangle and the upper line is the high of the rectangle period(from time value TM1 to TM2).
if D1 candle from yesterday is a inside bar candle, then the day before yesterday D1-low is the lower line of the rectangle.
if D1 candle from yesterday was completly below SMA(D1), then yesterdays D1-high is the upper line of the rectangle and the lower line is the low of the rectangle period(from time value TM1 to TM2).
if D1 candle from yesterday is a inside bar candle, then the day before yesterday D1-high is the upper line of the rectangle.
--------
for a visual example pls se attached picture.
the following parameters can be setup in indicator settings:
TM1 = timevalue, where the rectangle starts
TM2 = timevalue, where the rectangle ends
SMA_D1 = for example SMA 50
as a second part(new project) a EA will follow in case of indicator looks fine.
just for you better understanding, how the indicator is working, here the rules of the EA(new project):
just for you better understanding, how the indicator is working, here the rules of the EA(new project):
Trenddirection:
- LONG: if daily candle from yesterday is completly avove SMA(50)
- SHORT: if daily candle from yesterday is completly below SMA(50)
Entry/Exit:
- open trade in trenddirection at 09:00
- exit trade at 21:00
SL setting:
Stop loss at the high/low of yesterdays D1 candle
if D1 candle from yesterday is a inside bar candle, then the day before yesterday D1-high/low will be the stopp loss.
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