PZ Double Top Bottom EA

Aarna

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5 Responses

  1. Aarna says:

    I was looking at PZ DoubleTopBottom Indicator and noticed that price doesnโ€™t always go to twice the neckline and also sometimes arrow starts before reaching neckline.

    So please make these changes to strategy:

    โ€“ Start Order when arrow appears
    โ€“ TakeProfit1 at neckline + some pips (configurable by user)
    โ€“ TakeProfit2 at twice the Start order and TP1 distance

    • Abir Pathak says:

      Yes. I tested it out too and price doesn’t always go that far.
      I think we should first determine a StopLoss based on where the arrow is and keep SL slightly higher than the last Top/Bottom.
      Then determine TP as a Ratio of SL distance (Defined by user)
      So, if ratio is 1 means TP1 and SL at same distance. TP2 at twice the distance and so on.

      • Aarna says:

        Please use these new rules:
        1. When Double Top or Bottom pattern appears wait for arrow and for candle to close.

        2. If price already too close to neckline – ignore because won’t give nice trade.
        Or else start order on next candle.

        3. Keep SL above/below the Double Tops/Bottoms.

        4. Divide distance between Open Price and 2(x)Neckline into 4 parts.

        5. Set TP1, 2, 3, 4 accordingly.

        6. When price reaches Profit1 take 1/4 profit and move SL to break even and so on.

        7. Or if new double top occurs close current order and open new one (configurable by user).

  2. Mufasa says:

    For SELL
    line 256 and 260
    should be OP_SELL here..
    StopLoss = GetStopLossWithSpread(pz_price+slBuffer, OP_BUY);

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