Indicies strategy

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Dear forum friends, hi :), this is a real rare forum!


This is a strategy I used for indices and some commodities, in the past (got it from a trader that used it for a couple years).
I believe it's possible to automate with CP, only the last part of using pending orders and TP levels might be tricky.. ? 

Unfortunately, I have no time at the moment, so would really appreciate if someone picks up the glove and tries :)

Any suggestions are welcome, too :)

Buy orders:

On the 1H and 30Min and 15Min and 5Min and 1Min Timeframes, these conditions should be met:
The 35 Weighted Moving Average is above the 35 Exponential Moving Average and
price is above the 35 Weighted Moving Average and
price is above VWAP

Then - on the 1Min timeframe look for:

The 1st or 2nd positive MACD Histogram Bar (that went from negative to positive) and
it is the 2nd or more consecutive green candlestick (so close>open)

Then - place a buy order 1 tick above the high of that candle + place a stop loss: 1 tick below signal candle

Take Profit 1: 100% of the signal candle (1:1)
Take Profit 2: 200% of the signal candle (1:2)
Take Profit 3: 300% of the signal candle - optional, mainly if leaving a runner (1:3)
* Other possible take profit levels and stoploss - fib levels from signal candle


Cancel pending orders:
If MACD histogram became negative before triggering buy order
or
Price went below the signal candle's low (without triggering the buy order that was above that candle..) - maybe an input that sets how many candle's after no trigger, pending orders should be cancelled.

Additional inputs:
Time filter (start + stop time of the EA)


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Sell orders (opposite..):

On the 1H and 30Min and 15Min and 5Min and 1Min Timeframes these conditions should be met:
The 35 Weighted Moving Average is below the 35 Exponential Moving Average and
price is below the 35 Weighted Moving Average
and price is below VWAP

Then - on the 1Min timeframe look for:

The 1st negative MACD Histogram Bar (that went from positive to negative) and
it is the 2nd or more consecutive red candlestick (so close<open)

Then - place a sell order 1 tick below the low of that candle + place a stop loss: 1 tick above signal candle

Take Profit 1: 100% of the signal candle (1:1)
Take Profit 2: 200% of the signal candle (1:2)
Take Profit 3: 300% of the signal candle - optional, mainly if leaving a runner (1:3)
Take Profit 2: 200% of the signal candle
* Other possible take profit levels and stoploss - fib levels

Cancel pending orders:
If MACD histogram became positive before triggering sell order
or
Price went above the signal candle's high (without triggering the sell order that was below that candle..) - maybe an input that sets how many candles after no trigger, pending orders should be cancelled.

MT version:
Set for MT5 only
EA version:
2.47
Symbol:
Indicies, oil, gold
TimeFrame:
1min
Avatar
gideon maina

What is the setup for MACD 12,9,6 or another set

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YeliB
Quote from gideon maina

What is the setup for MACD 12,9,6 or another set

yupp, default

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Ulises Cune

Buy orders:

On the 1H and 30Min and 15Min and 5Min and 1Min Timeframes,


these conditions should be met:
The 35 Weighted Moving Average is above the 35 Exponential Moving Average and price is above the 35 Weighted Moving Average


and price is above VWAP.

The VWAP indicator is missing

Then - on the 1Min timeframe look for:

The 1st or 2nd positive MACD Histogram Bar (that went from negative to positive)


and it is the 2nd or more consecutive green candlestick (so close>open)

This cannot be done with CP, but could be replaced by an SMA


Then - place a buy order 1 tick above the high of that candle + place a stop loss: 1 tick below signal candle

Take Profit 1: 100% of the signal candle (1:1)
Take Profit 2: 200% of the signal candle (1:2)
Take Profit 3: 300% of the signal candle - optional, mainly if leaving a runner (1:3)
* Other possible take profit levels and stoploss - fib levels from signal candle


Here I leave it to you to follow it, information is missing and this part is not clear to me.

Cancel pending orders:
If MACD histogram became positive before triggering sell order


I leave you the documentation so you can continue the development
https://docs.google.com/document/d/1ww1M97H54IBwtCKZDhxtqsTsrtEMKofXHMEWMGCyZNs/edit#

YeliB.set

Avatar
YeliB
Quote from Ulises Cune

Buy orders:

On the 1H and 30Min and 15Min and 5Min and 1Min Timeframes,


these conditions should be met:
The 35 Weighted Moving Average is above the 35 Exponential Moving Average and price is above the 35 Weighted Moving Average


and price is above VWAP.

The VWAP indicator is missing

Then - on the 1Min timeframe look for:

The 1st or 2nd positive MACD Histogram Bar (that went from negative to positive)


and it is the 2nd or more consecutive green candlestick (so close>open)

This cannot be done with CP, but could be replaced by an SMA


Then - place a buy order 1 tick above the high of that candle + place a stop loss: 1 tick below signal candle

Take Profit 1: 100% of the signal candle (1:1)
Take Profit 2: 200% of the signal candle (1:2)
Take Profit 3: 300% of the signal candle - optional, mainly if leaving a runner (1:3)
* Other possible take profit levels and stoploss - fib levels from signal candle


Here I leave it to you to follow it, information is missing and this part is not clear to me.

Cancel pending orders:
If MACD histogram became positive before triggering sell order


I leave you the documentation so you can continue the development
https://docs.google.com/document/d/1ww1M97H54IBwtCKZDhxtqsTsrtEMKofXHMEWMGCyZNs/edit#

YeliB.set

Hi Ulises, wow thanks so much! Really appreciate it :) 

Yes, the TP part is the tricky part - ex. : 

For TP 1: if entry candle is 10 pips, the TP will be 10 pips (so 1:1), 

TP 2 can be 20 pips and TP3 30 pips. 


I doubt this can be configured with CP, if you have a different idea for TP that would be great! 


Thanks again :)

Avatar
Ulises Cune
Quote from YeliB

Hi Ulises, wow thanks so much! Really appreciate it :) 

Yes, the TP part is the tricky part - ex. : 

For TP 1: if entry candle is 10 pips, the TP will be 10 pips (so 1:1), 

TP 2 can be 20 pips and TP3 30 pips. 


I doubt this can be configured with CP, if you have a different idea for TP that would be great! 


Thanks again :)

You could perhaps use TrailingStop for the different TakeProfits, starting with a TrailingStart as the first TP. You should calculate it with Points

https://communitypowerea.userecho.com/en/communities/7/topics/384-what-is-a-point-in-cp-what-does-stoploss-250-points-mean