Wyckoff Price action
Wyckoff price action is a fully automated Algorithmic Expert Advisor that analyzes the market trend , breakouts and moves orders based on stop hunting by Wyckoff trading strategy. It contains a smart algorithm to determine the hunting levels based on the latest market trends.
It does not use martingale, hedging or any other dangerous strategies.
Richard Demille Wyckoff (1873–1934) was an early 20th-century pioneer in the technical approach to studying the stock market. He is considered one of the five “titans” of technical analysis, along with Dow, Gann, Elliott and Merrill. At age 15, he took a job as a stock runner for a New York brokerage. Afterwards, while still in his 20s, he became the head of his own firm. He also founded and, for nearly two decades wrote, and edited The Magazine of Wall Street, which, at one point, had more than 200,000 subscribers. Wyckoff codified the best practices of Livermore and others into laws, principles and techniques of trading methodology, money management and mental discipline.
Wyckoff Price Cycle:
According to Wyckoff, the market can be understood and anticipated through detailed analysis of supply and demand, which can be ascertained from studying price action, volume and time. As a broker, he was in a position to observe the activities of highly successful individuals and groups who dominated specific issues; consequently, he was able to decipher, via the use of what he called vertical (bar) and figure (Point and Figure) charts, the future intentions of those large interests. An idealized schematic of how he conceptualized the large interests' preparation for and execution of bull and bear markets is depicted in the figure below. The time to enter long orders is towards the end of the preparation for a price markup or bull market (accumulation of large lines of stock), while the time to initiate short positions is at the end of the preparation for price markdown.
:::::::::::::::Requirement & Recommendations:::::::::::::::
Please send us private message for better support.
Account Type : ECN
Currency pairs: EURUSD ( you can make backtest on other pairs but not recommended to use)
Time frame : 15 Min ( M15)
Leverage: No limitation , 1:500 is our live signal.
Min. Deposit : 20$
VPS to maintain internet connection.
Low spread : less than 10
Stop Level for EURUSD : Less than 20
- Important News :It's highly recommended for EBC, NFP,Fed Funds rate delete the EA's orders
:::::::::::::::Parameters & Set Files:::::::::::::::
- Magic Number : Identifying orders to manage different EA without any conflict ( default 100)
- Risk Percent: Risk percent (0-100 ), calculate the lot size based on account free margin and Stoploss ( default number is 35 ), LotSize = (Account free margin *(RiskPercent/100))/(MyStopLoss * PipValue)
- My stop loss: Stop loss in pips (50 pips by default)
- My Takeprofit: Take profit in pips
====== Auto Lot Size ======
- Autolot (True/False) : select true means that EA should calculate based on account size : Lotsize = (( Free account equity) *(Risk Percent/100))/(Margin required for 1 lot)
- Fixlot: first change autolot to false then set the lot size any time based on your risk manually.
Note: when you choose fixlot parameter the lot size is not change until you change it.
- Trailing ( True/ False) : As default trailing stop is active with below setting , if you choose False EA works only with MyStoploss and MyTakeProfit parameters
- Change_Stop_level: Decision level for stop trailing ( 5 pips in profit by default)
- Change_Stop_profit: Stop changing based on change stop level ( 2 pips in profit by default)
- follow Profit : the parameter sets for stop trailing follow pip methods ( default 1 Pips)
GMT_offSet : Set Difference GMT server Offset. Most of Broker and ALPARI is GMT +2
NOTE: during backtest it's not possible to change GMT offsets so maybe your broker has DST in some part of year in live, but in back test you are not able to manage it.
Useful Links & articles:
- HOW TO TEST A TRADING ROBOT BEFORE BUYING
- HOW TO PURCHASE A TRADING ROBOT FROM THE METATRADER MARKET AND TO INSTALL IT?
- HOW TO PREPARE A TRADING ACCOUNT FOR MIGRATION TO VIRTUAL HOSTING