Hi all programers there!
First I want to congrats Steve for the Site! It's a really factory of Ideas!
Second, I want to say that english its not my mother language, but I think we can understand each other! And I can pass to you what I have found and I think we can profit together from it.
Here is the deal:
I discover and trade a really profitable pattern with range bars, some Moving Averages, the Coral from THV thread in FF, and a Retracement_Finder indicator, wich in reality is a Histogram CCI.
I want to know if anyone here could make a indicator or better, a EA based on the parameters.
I want a indicator because I like to trade manual, but can’t stay in front of computer all day, and I want to be warning via alert and/or mail if the conditions are in agreement. But a EA would work perfect since the rules are completely mechanical.
Here is the Setup i wish the indicator to alert:
The main signal its when the CCI Histogram (8) cross above zero for Buy or Below zero for Sell.
OBS: Important that when the cross happen, we must have at least 2 candles with the CCI in the other side to be consider a valid retrace. But if its more dificult to implement, can be used the signal itself.
Of course we have many crosses all day long, but I have some real strict rules for enter a trade.
When the cross happen, the folowing moving averages and Coral must be in agreement, one after another without touch itselfs. I use the Standard Coral and a MA_ribbonFilled to help visualize the pattern.
Lets take a Long example, (for short the oposite)
We have a CCI Signal and the following conditions:
1- The 200 EMA above 500 EMA (This is to identify the Long Term Trend)
2- Coral above the 200 EMA (This is to identify the Medium Term Trend)
3- 12 EMA above 22 EMA and both these EMA above Coral (This is to assure we have volatility in the current Trend)
In the Pictures below you can have a better understand of what I'm saying.
Entry: 1pip above the High of the Signal Candle.
Stop: 1 pip below de Low of the Signal Candle.
Target: Go for 1:2 to 1:3 Risk/Reward. But many times we can get 1:5 until 1:10 R/R. ( I only let the trade go far from 1:3 if the Big Picture on 1H is Good)
This is a great pattern, that can take us into a good position on the Trend and if we can get a Indicator to mix this rules into one signal, it would be great.
I would like to have a indicator that when the above conditions are in place, the indicator signal a arrow in the chart, with audio and email allert. This would be great to monitor more pairs at once.
Someone could help with this???
The Indicator (EA) would not generate many signals, with even days without a signal for a single par, but the pattern is so Strong that when we have a signal we can enter with big money and we can follow it on many pairs.
Just have to adjust the range of Range Bars. Ex: For EUR/USD I use 8, for GBPJPY 10. But this can be adjustable.
A EA would be great indeed!
For the EA, I don´t know how it will work since I use a off-line chart to have the Range bars.
Below the main indicators!
Wait here to elucidate any question, and hope that together we can make a really great money machine!
Thanks in advance! |
