Project Description:
Hello, sorry my previous project had some typos in it. I have a custom project as follows, do you think you would be able to do it?
Timeframe: 4 hour
Currency Pair: Any pair
Risk Factor: 2% of account balance
Stop Loss: Use Kijun Sen +/- ATR/6 buffer for trailing stop
INDICATORS:
Ichimoku Kinko Hyo 9,26,52
Heiken Ashi
Multi Timeframe Indicator - ichi360 Monitor (Download: ichi360_Monitor_V2.zip here : http://forex-strategies-revealed.com/files/MT4/ichi360_Monitor_V2.zip )
ATR 14
MONEY MANAGEMENT:
Lotsize is determined by money management with risk limited to no more than 2% of account balance per trade. This is achieved by (1) calculating 2% of the account balance, (2) calculating the dollar value between the current price and the Kijun Sen - ATR/6 for a long position or Kijun Sen + ATR/6 for a short position, and (3) dividing 2% of the account balance by the dollar value in (2) above. The result is the number of lots that can be traded without exceeding the 2% risk factor if the stop-loss is hit. The ATR/6 component adds a buffer to the stop-loss to allow for noise.
CURRENCY PAIR SHORT LISTING:
Every 4-hours, check the ichi360 Monitor for each currency pair to select suitable currency pairs for short listing. This is a step that MUST be performed before a currency pair can be considered for trading, and helps eliminate bad trades. The ichi360 Monitor MUST be 80% positive (13 or more up arrows) or 80% negative (13 or more down arrows) for a currency pair to be added to the short list.
TRADE ENTRY FOR LONG POSITION:
-Price candle MUST completely clear top of the Kumo and close above the Kumo;
-Tenkan Sen cross up above Kijun Sen;
-Chikou Span MUST be above the price curve and trending upwards;
-Senkou Span A cross up above Senkou Span B; and
-Heiken Ashi candle MUST be green.
TRADE ENTRY FOR SHORT POSITION:
-Price candle MUST completely clear bottom of the Kumo and close below the Kumo;
-Tenkan Sen cross down below Kijun Sen;
-Chikou Span MUST be below the price curve and trending downwards;
-Senkou Span A cross down below Senkou Span B; and
-eiken Ashi candle MUST be red.
EXIT STRATEGY:
This is essentially a trend-trading strategy so whilst we want to cut losses short, we also want to allow profitable trades to run to their maximum potential. Exit is achieved in one of two ways:
-Trailing stop trigger, or
-Tenkan Sen / Kijun Sen cross in the opposite direction of the trade.
The stop and trailing stop is tagged to the Kijun Sen (blue line), plus or minus a buffer to absorb market noise. The buffer is equal to ATR/6.
The following screen shot shows all the criteria that must be met in order to enter a long position.
http://forex-strategies-revealed.com/files/pictures_strategies/ichim_s.png
Can this be done? (:
