This thread is intended to be for the development of an EA to trade the Old Dog Fib Trading and related methods as described here.
A pic of today's chart is below. The indicator is intended to work only with FXPro for reasons of a certain calculations works. I know we can get it to work with other brokers, with some cleverness.
At the NY Close, there is a calculation of a daily pivot, a sentiment value and two breakout buy and two breakout sell trades.
I've also attached a fib to the close as well. It's based on 1/2 of the 44 day ATR and provides another breakout type trade that needs evaluation.
The EA should trade as follows:
Trade each breakout zone
Have the option to choose only to trade with sentiment
Stop to be set in terms of percent equity or fixed amount
Have option to trade the first breakout with a target as the second break TP - maybe can trade a second lot for this...so it has two trades on the go at the same time - same stop but different exit strategies.
Move stop to BE at X pips with Y pips to lock in.
If we can get this one working, maybe we can add another trade based on the fib. That can follow.
One vouch rule to post....if you need to post and can't, send me a PM.
Thanks to any coders who might take this on. With all the breakout EAs on the go, this one does not seem particularly complicated.
Cheers
CanuckCT
A pic of today's chart is below. The indicator is intended to work only with FXPro for reasons of a certain calculations works. I know we can get it to work with other brokers, with some cleverness.
At the NY Close, there is a calculation of a daily pivot, a sentiment value and two breakout buy and two breakout sell trades.
I've also attached a fib to the close as well. It's based on 1/2 of the 44 day ATR and provides another breakout type trade that needs evaluation.
The EA should trade as follows:
Trade each breakout zone
Have the option to choose only to trade with sentiment
Stop to be set in terms of percent equity or fixed amount
Have option to trade the first breakout with a target as the second break TP - maybe can trade a second lot for this...so it has two trades on the go at the same time - same stop but different exit strategies.
Move stop to BE at X pips with Y pips to lock in.
If we can get this one working, maybe we can add another trade based on the fib. That can follow.
One vouch rule to post....if you need to post and can't, send me a PM.
Thanks to any coders who might take this on. With all the breakout EAs on the go, this one does not seem particularly complicated.
Cheers
CanuckCT
Attached File(s)
sqAbonacciOldDogLevels-indi-1.2.mq4
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