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Robot Rules
(I will show image examples for each explanation)
Indicators: Bollinger Band on M1 – Default settings
1. Signal bar: For a long trade – A down bar (and/or doji bar) needs to touch or pass through the Bollinger band (Image 1)
2. Entry bar: For a long trade – After a down bar has touched/passed through the Bollinger band the following bar needs to be an up bar and the open & close needs to be more than the signal open and close bar. (Image 1)
3. For short signal & entry bar: Same rules but opposite to the long signal/entry (Image 2)
Example when there is a doji bar entry (Image 2.5)
1. Second entry is exactly the same as the first entry with a slight variation. For long example. If after a down bar has touched/passed through the Bollinger band and price has come away from the Bollinger without showing a long bar straight away bar the following up bar that has a bigger open/close than the previous bar to that is also an entry. (Image 3)
Trade management:
1. There will be 3 separate trades per entry. Each trade I want to be able to change the % of the account balance
2. The targets will be 2:1, 3:1 and trailing after the first two trade targets have been hit.
3. The SL will be measured as so: For longs it will be measured by how big the entry bar open to the low is. (If it equals 2.4/3.4/4.4 etc… pips then the Sl needs to be 3/4/5 etc…. If it equals 2.5/3.5/4.5 etc… pips it needs to be 4/5/6 etc…. For shorts it will be measured by how big the entry bar close to the high is and the same rules for the
4. The third trade I want to trail after the first and second trade targets have been hit. But I want to trail 5 pips behind M5 bars. E.g for a short trade it would only trail behind short bars. It would trail 1 bar before the current bar if that short bar has made a lower high. Same applies for long trades but opposite to short trades. (Image
I have explained it the best I can but if there is any confusion please ask,
I look forward to working with you :)
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