I am looking to build algo for semi-auto trading system. I am looking to have 2 buttons on the chart "Long" and "Short". I can manually select when to engage long or short algo logic. Again I repeat that no Shorts or Longs are to be triggered unless its been manually engaged on the chart.
Here is the logic. should be fairly simple.
It will trade range charts. so I want to be able to use on any range chart.
logic as follows for LONGs;
Current Candle up(bullish) Close>Open
Limit order sitting at the open of the next candle(since its a range chart we should know ahead of time where the close of that range candle should be)
2 target profits
Stoploss with reverse at the stop order
Stop is off set X amount of ticks below the current candle low(want an option to set and offset amount)
Reverse is double the size of the original trade
when reverse order is triggered there will be 3 targets
1st target profit to cover the loss
2nd and 3rd target for profits
And the opposite logic for the Short trade.
Limit for LONG is triggered on the open of the new bar with 2 lots.
Stop will be offset X amount of ticks below previous low of the bar
Target profit 1: with 1 lot
Target profit 2: with 1 lot
STOP Loss: 2 lots
Breakeven after TP 1 is filled(want an option to enable it or disable it)
If the trade hits the stop it will reverse at stop with 4 contracts(with limit order)
TP1 with 2 lots
TP2 with 1 lot
TP3 with 1 lot
STOP LOSS: 4 contracts
IMPORTANT: when in the reverse trade there needs to be only regular stop. NO REVERSE at the stop in this case