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 doesn’t always go to twice the neckline and also sometimes arrow starts before reaching neckline.

    So please make these changes to strategy:

    – Start Order when arrow appears
    – TakeProfit1 at neckline + some pips (configurable by user)
    – 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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