PZ Double Top Bottom EA
Please make a Double Top Bottom EA using previous Indicator that you made: PZ Double Top Bottom
(See attached image)
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).
Update by Abir:
EA finally finished. Sorry this one took a while. Been a bit busy last week with Diwali here in India 🙂
Download:004_PZ_DoubleTopBottom_EA_v1.0_Abiroid.rar (51 downloads)
Fixed or Variable StopLoss:
You can set “riskRatio” var for Variable StopLoss and slBuffer for fixed SL.
SL:TP Ratio. If riskRatio 2 means SL will be 1/2 of TP.
If riskRatio 0 -> It will use ArrowPrice + slBuffer as Fixed StopLoss
I only tested it in Strategy Tester for EURUSD for 3 months. Still need to further test with different settings. But was getting better results with a fixed StopLoss. I’m not putting up my graph because I did very limited testing.
Also tested the Indicator for Binary Options with “Konkistadorr Binary Options Tester” and got good results with martingale. Win rate stayed around 57-58% which isn’t that much, but consecutive losses were low. Max it did go upto 6 one time but mostly stayed at 2-3 which can easily be overcome with martingale:
Once again, not posting all my results because of very limited testing. I will really appreciate if you guys can test it out further and post your results: Pair name, time tested, graph, set file, etc. It will really help others use this EA better. Thanks.