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Hi all, i'm seeking a programmer who is able to create an Expert Advisor based on channel breakouts, basically the same as Courtney Smiths 55/20 channel breakout strategy with all his exit strategies.
Strategy:
Basic channel breakout signal: Entries are setting open orders using a 55 day channel breakout and exits are normally made by a stoploss at a 20 day channel breakout unless exit earlier be one of the below exit conditions. Also, orders and stoplosses are placed 3 pips outside the breakout channel.
'ADX filter' entry confirmation: When the ADX is declining reject the channel breakout signal
'The Bishop' exit: look for the ADX line to be above 40 and then turn down. Then exit the all positions for that chart
'Rejection Rule' exit (Going long example):
1. the rejection rule normally only covers the first two days we are in a trade. I also want the option to continuously apply this.
2. the '5 day condition' is true if the 55-day high has been flat or declining for at least five days. I want the '5days' of this condition to be a variable input.
3. then if the '5day condition' is true, and if the price CLOSES below the original breakout level for either of the first two days of the
trade we'll exit on the close of the bar
'The last bar technique' stoploss (going long example):
1. if the distance between the breakout level and the last bar is LOWER than 5% of the distance from breakout level to 20bar channel lower line, use the last bars low for this technique.
2. Or if the distance between the breakout level and the last bars HIGHER than 5% of the distance from breakout level to 20bar channel lower line, use the second-to-last bars low for this technique.
3. When the SL given by the 20 day low is higher than that of the last bar, change the SL to the new higher SL
I've already have the custom 'channel breakout' and ADX indicators that I want to use for the EA, and I have started a EA with all the external inputs that I want.
Thanks,
Anthony