Whenever a new open candle appears, strategy should open either a long or short position(with the user defined parameters) based on any pattern around the last closed candle.
Strategy will examine candles and whenever a new candle appears, examine if there was a pattern on the last closed candle. If pattern is there, open a position in the direction defined by the pattern on the chart.
Whenever PATTERN RECOGNITION puts a GREEN reticle around the last closed candle, strategy should open a BUY (long) position, if the reticle is RED a SELL (short) position.
If no pattern is present on last closed candle, it shall wait for the next open candle to appear thus closing the current candle.
If there already is an open position and new pattern shows up, strategy should open either of the following:
- If the pattern is the OPPOSITE direction (BUY/SELL), open an opposite direction position with the user set parameters.
- IF the pattern is the SAME direction (BUY/SELL), open a SAME direction position AVERAGING the previously opened trade and the new one, by recalculating the 'TAKE PROFIT' and 'STOP LOSS' values.
*Eg.: first (BUY) postition was opened at [url removed, login to view] (with a take profit value of 40 pips), second (BUY) would open at 1.2000. After averaging the two positions ([url removed, login to view]+[url removed, login to view])/2=[url removed, login to view] +40(pips), the new TAKE PROFIT value should be @1.2540.
This method should continue, if another BUY opportunity comes up, averaging the previous two with the new one, recalculating 'TP', 'SL' and 'TS'values for 3 positions.*
In the meantime, opposite (SELL) positions 'live their own lives' independently from the BUY positions, but the same way averaging with any other SELL positions that may be there.
This effectively means we may have several open SELL and BUY positions.
Averaging in case of same direction positions shall include TP/SL/TS values per each instrument (different instruments are independent from eachother in this regard).
Strategy needs to be ableto run paralell, on sevaral different instruments.
INPUT VALUES - SET BY USER
User shold meet a parameters page after starting the strategy and be able to set the following parameters via dropmenus:
- INSTRUMENT eg.: USD/EUR
- TIMEFRAME (chart to work with) eg.: 1h, 30m, 10m, ect.
- INDICATOR (only PATTERN RECOGNITION type indicators will be used, eg.: CDL2CROWS, CDLBELTHOLD, etc.)
- LOT: Amount (millions) eg.: 0.1 (that would be 100k units)
- TP LONG: TAKE PROFIT for LONG positions (pip)
- TP Short: TAKE PROFIT for SHORT positions (pip)
- TS LONG: TRAILING STEP for LONG positions (pip)
- TS SHORT: TRAILING STEP for SHORT positions (pip)
- SL LONG: STOP LOSS for LONG positions (pip)
- SL SHORT: STOP LOSS for SHORT positions (pip)
We are looking for someone with trading experience and proven skills using the dukascopy jforex interface. It is merely to make sure the task and the strategy dynamics are FULLY UNDERSTOOD by the chosen freelancer.