Buy Procedure

Criteria for Signal Candle

As shown above, consider three candlesticks. The signal candle must open in between the upper and lower bands of BollingerBand 1 and close outside BollingerBand 1 but not outside BollingerBand 2. This means that for a sell setup, this candestick opened above the lower band of BollingerBand 1 but below the upper band of BollingerBand 1, then closed below the lower band of BollingerBand 1 but above the lower band of BollingerBand 2 as shown above on the Candlestick labelled 1.

Criteria for the previous two candle sticks

The previous two candlesticks, labelled 2 and 3 above, must have opened and closed inside BollingerBand 1, meaning they opened and closed in between the upper band of BollingerBand 1 and the lower band of BollingerBand 1.

Taking  Trade

If all the above have been met, the EA will take two trades at the close of candlestick 1, which will be at the first tick volume of the candlestick that opens after candlestick 1 indicates above. It will open two trades at the same time, with different TP levels but same SL. These two trades make a set of trades

StopLoss Criteria

Of the three candlesticks that we consider, pick the highest high. The candle stick with the highest high will give us the stop loss. The highest high, of any of the three candle stiks will give us the stoploss.



Sell Procedure

Criteria for signal Candle

As shown above, consider three candlesticks. The signal candle must open in between the upper and lower bands of BollingerBand 1 and close outside BollingerBand 1 but not outside BollingerBand 2. This means that for a buy setup, this candestick opened above the lower band of BollingerBand 1 but below the upper band of BollingerBand 1, then closed above the upper band of BollingerBand 1 but below the upper band of BollingerBand 2 as shown above on the Candlestick labelled 1.

Criteria for the previous two candle sticks

The previous two candlesticks, labelled 2 and 3 above, must have opened and closed inside BollingerBand 1, meaning they opened and closed in between the upper band of BollingerBand 1 and the lower band of BollingerBand 1.

Taking  Trade

If all the above have been met, the EA will take two trades at the close of candlestick 1, which will be at the first tick volume of the candlestick that opens after candlestick 1 indicates above. It will open two trades at the same time, with different TP levels but same SL.

StopLoss Criteria

Of the three candlesticks that we consider, pick the lowest low. The candle stick with the lowest low will give is the stop loss. The lowest low, of any of the three candle stiks will give us the stoploss.



External Inputs

 

BB1 Period.................................................................................................

BB1 Deviation............................................................................................

BB2 Period.................................................................................................

BB2 Deviation............................................................................................

Starting Lot Size.......................................................................................................

Tp 1............................................................................................................

Tp 2............................................................................................................