Topic: Create Manual Strategy
Hi,
Apologies for the newbie question but I would appreciate any help. My scenario is that I am looking to replicate a manual trading strategy in EAS but I am unsure if it is fully possible.
The manual strategy I would follow is:
1. Use the 50 day EMA
2. Look for a indicator that is below the EMA and then breaks above and has 1 candle closing above
3. Wait for pull back - considered when 2 back to back opposite candles pull down
4. Wait for the price to break above the swing high (where body of the candle closes above the swing high)
5. Buy at this point
6. I would typically use a chandelier to define the stop loss value but I see this indicator isn't available - any suggestions?
7. Set take profit at double the stop loss value
Trade is invalidated if:
1. The pullback as per point 3 continues below the 50 EMA
2. The breakout candle as per point 4 is larger than average i.e. 3 or 4 times the typical candle size
Running on a 4H chart for all main forex pairs