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I am backtesting a strategy on TradingView using the "Market Structure Break (BOS)" indicator combined with Heiken Ashi candles. I would like to replicate this strategy on MT4 or MT5. Below, I will outline the details of the strategy, including the conditions for entries, exits, and other key requirements.
Buy Entry Conditions
-
Market Structure Break (Bearish BOS):
- A bearish BOS is detected by the BOS indicator.
- Note: The swing point number in the indicator affects the BOS and must be adjustable in the settings.
-
Heiken Ashi Confirmation:
- Wait for a Heiken Ashi green candle to close after the bearish BOS.
-
Entry Trigger:
- Enter a buy trade immediately after the first green Heiken Ashi candle closes.
-
Stop Loss:
- Place the stop loss a few pips below the previous low
-
Take Profit:
- Target the previous high (the high before the drop that broke the structure).
Sell Entry Conditions
-
Market Structure Break (Bullish BOS):
- A bullish BOS is detected by the BOS indicator.
-
Heiken Ashi Confirmation:
- Wait for a Heiken Ashi red candle to close after the bullish BOS.
-
Entry Trigger:
- Enter a sell trade immediately after the first red Heiken Ashi candle closes.
-
Stop Loss:
- Place the stop loss a few pips above the previous high
-
Take Profit:
- Target the previous low (the low before the move that broke the structure).
Additional Features
-
Partial Trade Management:
- Close 50% of the position when the trade reaches the halfway point (midway between entry and take profit).
- Move the stop loss to breakeven (BE) after closing 50% of the trade.
-
Optional No Stop Loss Mode:
- Include an option to disable the stop loss feature.
-
Repeat Entries:
- After the first entry, allow additional entries under the following conditions:
- For buy trades: Each time a Heiken Ashi candle transitions from red to green, open another buy position and the positions will remain open until the TP or halfway point is reached.
- For sell trades: Each time a Heiken Ashi candle transitions from green to red, open another sell position and the positions will remain open until the TP or halfway point is reached.
- After the first entry, allow additional entries under the following conditions:
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