Candle Breakout Strategy

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Candle Breakout Strategy

Postby stalinkov » Tue Dec 19, 2017 7:39 pm

Timeframe: 15min, 30min, 60min, 240min, 1day, 1 week.
Instrument: Any currency

Entry:
Can select any candle to mark entries to trade (ID of candle).
Can create OCO order.
Can define how many pips away from high and low of the candle (1, 2, 3 or any number) the trade should be active.

Stop-Loss:
Can specify a number of pips
Can specify low or high of any specific candle
Can specify the highest or lowest price of specific number of candles

Take-Profit:
Scaling from stop-loss: Fixed (can specify number of pips) or Trailing
Can specify any number of pips
Can select double or triple number of pips of stop-loss
Attachments
Breakout strategy.pdf
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Re: Candle Breakout Strategy

Postby Apprentice » Wed Dec 20, 2017 6:33 am

About the candle selection of the interface.
We can use date / time selector from within strategy,
or an external indicator helper, with which you will be able to select candle or candles via mouse selection.
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Re: Candle Breakout Strategy

Postby stalinkov » Wed Dec 20, 2017 9:07 am

Thank you for always replying and very quickly :)

I will give an example to explain it; If I want to mark the high/low of the second candle in the London session, so that when price cross the high/low then make a buy/sell order. I want to be able to select any candle.

For example:
Lets take the timeframe 1 hour, so the number of candles that I can select from are 24
Timeframe 15min, number of candles that i can select from are 96
Timeframe 30min, number of candles that i can select from are 48
Timeframe 60min, number of candles that i can select from are 24
Timeframe 240min, number of candles that i can select from are 6
Timeframe 1day, number of candles that i can select from are 5 (each weekday a candle)
Timeframe 1 week, no need for that :)

If this will make the strategy harder, then we can start by doing it only on 60min timeframe.
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Re: Candle Breakout Strategy

Postby Apprentice » Thu Dec 21, 2017 11:28 am

Selection method is not yet clear.
We can use one of the methods mentioned above.
Candle index is NOT the best method.
We have to record a specific candle date,
The only exception will be if candle indexes are always referenced to the current candle.
Can you clarify.
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Re: Candle Breakout Strategy

Postby stalinkov » Tue Dec 26, 2017 3:03 pm

Please consider the one hour time-frame only, since the main strategy is based on 1 hr, but I was hoping to apply it on multi time-frames.

Returning to the 1 hr time-frame, the strategy I am aiming for is the breakout of high and low of the candle before the London market opens, but I also need to test the strategy after 2 hours from London session opens, or any hour that I specify during the day, so I need the option to specify any hour during the 24 hours to take its high and low and make them entries if price breakout them.

Hope I explained it well :)
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Re: Candle Breakout Strategy

Postby Apprentice » Tue Jan 02, 2018 8:41 am

Your request is added to the development list under Id Number 3996
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Re: Candle Breakout Strategy

Postby Apprentice » Wed Jan 03, 2018 5:16 am

Something like this?
Candle Breakout Strategy.lua
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Re: Candle Breakout Strategy

Postby stalinkov » Tue Jan 09, 2018 4:53 pm

Hi Apprentice, yes this is somehow what I am asking for, but tried to test it and didn't know all properties, can you please send me a manual about the fields inside?
Thank you in advance.
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