Volume / Engulfing EA Idea

[ieatbanana]

Hello all,

I have a possible idea for a volume / price action EA.

Trend BIAS ----
Down Trend / Signal:
- Engulfing [or Semi] Bear Candle with requirements:
1.) Closed with Volume Lower than previous bar
2.) Closed below 34% of previous candle's low
3.) Closed below 34% of its low

Entry: Spread + 0.5 Pip below the low of signal candle
SL: Spread + 2 pip above high of signal candle

Opposite for Up Trend / Signal.
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Additional Entries (configurable ON/OFF and only 1 pending Entry at a time):
- Bull/Bear (depending on BIAS) Candle with requirements:
1.) Closed with Increased volume than previous bar
2.) Closed with higher high than previous candle

**Side Note: Additional Entries are recommended to have smaller size lots,

Entry: Spread + 0.5 pip
SL: Spread + 2 pip above (or below) the low (or high) signal candle

If Down Trend / Signal fails and price closes above high of "trend" candle, trend will now be up (and vice versa). "Additional Entry" will be used.
-----------------------------------------------

Trade would close when Trend's Bias/Signal changes or SL hit, of course.

I'm located in the US so no hedging for me, unfortunately. Or else, I would keep running trades with jumping/trailing SL.

There are two other conditions for entries, but I'm not sure if it's worth it since this gives plenty of trades/pips alone. Maybe once we get the first condition straighten out, if anyone is interested, haha.

Thanks for reading,
LT

[SteveHopwood]

The way to attract attention to an idea for automation is to announce, "I have been trading this way manually for several months/years and increased the size of my account by x."

You will be hard pressed to find someone willing to code this ea for you. The coders here are busy with productive projects and will not be willing to supply their expertise for something that is merely speculative. Once upon a long time ago, yes, but not now.

[ieatbanana]

Steve,

Thanks for the advice. I've been trading for a while using primarily VSA, but took notice of a few patterns appearing at trend changes in the recent months (3 months to be exact). I started to trade on those patterns alone (with a little hindsight of technical analysis) and it has been quite successful.

I'll start logging down my performance and check back here again. :hi:

Thanks again, Steve.

Sincerely,

LT

[ieatbanana]

Since there has been a couple views, I thought I should share a chart for EURJPY in the last day or so for anyone who wishes to trade this method manually.

There's a vertical line for each Signal candle.

EURJPYM15.png

We had a few losers, based on the stated criteria in post 1. And kindly note that I'm eyeing the close of the candle, so it's not exactly "34%" and such of a candle.

Happy trading, and best of wishes.