Termos de Referência
Fail to return (FTR) strategy. We want to use multi timeframes and fvg to determine exit levels on H4. Essentially we want to create CHOCH and BOS levels and trade based on these on multi timeframes (MTF). Trade 1 position at a time. The code & input/variables required are:
1.lotsize - default 0.01
2.magicnumber- this might be required to do the auto close below.
3.exit choice field = 1. manual = shows TP and SL points that i can enter or 2. automatic = calculates levels automatically using H4 TF.
4.choice fields (returns either uptrend or downtrend) to determine if M1,M5,M15,H1 (all these will be variables) via CHOCH = So need code to determine CHOCH of each TF and it returns the direction - this needs to be coded well so that it can calculate the trend higher high/higher low, lower low, higher low etc. I would like this to be visible in the EA / back test preferably a dot above the candle of the higher high's being blue and the lower lows red to show the trend going up/down - see attached pic (think its green).
5.A function to calculate H4 FVG - i want this to show a long candle and calculate the FVG where it will be used for exit above for option automatic. The SL will be based on recent high/low and add 20 points and the TP level will be the 50% of the FVG candle (in the middle) from the FVG less 20 points (so that it triggers sooner).
6. Need a function to calculate BOS (break of structure) this will be used for H1 and i want it to calculate accurately the levels. I would like for this to show on the EA/back test the bos line which can be bold and red so that i can see that it is a correct bos. - see attached pic (think its orange and red colour).
Using the above, the trade conditions will be when H4 FVG is within 1000 points (either side), the H1 needs to show a BOS going into that direction (breaking a major support line towards the H4 FVG), then checks to see if M1,M5 and M15 CHOCH returns uptrend/downtrend (so if we are looking to short current position into the H4 FVG then all 3 need to be downtrend) into that position then it opens the position on the next candle if it closes past the bos (after the bos breach to check if it closes past the breach). HOWEVER, say if BOS breaches in H1 chart and 1 of the 3 timeframes do not show immediately the same trend direction (say M1 switched to uptrend instead of downtrend, then we need to wait for it to go downtrend) then we wait until the new H1 candle (that we are meant to open the position for) closes (so have a hour to open trade to make all 3 timeframes align with the same trend direction) and open the position if all 3 TF aligns and returned at some stage the same direction (with the trend direction of the FVG) otherwise we reset and starts again. SO, we are looking to trade into the direction where the H4 FVG is, there may be 1 above and 1 below current price candle then we look to see which aligns first.
Important part is to show the CHOCH / BOS levels in the chart *i will look to reuse this afterwards potentially.
We also want to close position automatically if the M1,M5,M15 and H1 CHOCH shows the opposite direction to our trade (so they all say uptrend when we are in a short position).
Trades both long and short but opens 1 position at a time. I'd like to reuse the code after to structure other things so if you can leave comments and make it clear as possible please.
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