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Dear experts,
I need an expert adviser tool to be developed as described below:
It must cover selling and buying trades. For buying trades (long position) here`s what it needs to be done:
1. Graph Timeframe: 60 minutes
2. Raising arithmetic moving average in 20 periods
3. The so called Dunningan candle, that is our trade reference for buying, is characterized by maximum and minimum values above the previous candle maximum and minimum values, respectively. That`s what I want to be detected.
4. After this condition is detected the buying trade must be done a tick above of the reference candle (Dunningan) maximum value.
5. The trading goal must be set at the reference candle`s spread value (maximum value minus minimum value). For instance, if the reference candle spread is of 400 points the trading goal will be 400 points above the entering value.
6. The stop loss must be set at the tick below reference candle`s (Dunningan) minimum value.
Now for the selling trade (short position), the operation is basically the same, but is the opposite of buying:
1. Graph Timeframe: 60 minutes
2. Decreasing arithmetic moving average in 20 periods
3. The so called Dunningan candle, that is our trade reference for selling, is characterized by maximum and minimum values below the previous candle maximum and minimum values, respectively. That`s what I want to be detected.
4. After this condition is detected the selling trade must be done a tick below of the reference candle (Dunningan) minimum value.
5. The trading goal must be set at the reference candle`s spread value (maximum value minus minimum value). For instance, if the reference candle spread is of 400 points the trading goal will be 400 points below the entering value.
6. The stop loss must be set at the tick above reference candle`s (Dunningan) maximum value.
Both tradings do not need to be set only for day trades, it can be free to run over a longer period, such as two days for instance.
In order to help your view and understanding two graph images are attached to this message.
Best regards
Henrique Macieira
