DEFPARAM CumulateOrders = False // Cumulating positions deactivated
// Define parameters
nBars = 20 //20 Period to calculate RangeBars
BounceBars = 4 //4 bouce periods
rangeMin = 10 * PipSize
rangeMax = 80 * PipSize
studsThreshold = 10 * PipSize
stopLossBuffer = 20 * PipSize
emaPeriod = 14
// EMA for exit condition
ema14 = ExponentialAverage[emaPeriod](close)
// Define the RangeBars calculation
highestHigh = highest[nBars](high)
lowestLow = lowest[nBars](low)
myRange = highestHigh - lowestLow
Rangebars = (myRange >= rangeMin) AND (myRange <= rangeMax)
Count = 0
lowestBounce = 9999999
IF Rangebars THEN
FOR i = 0 TO (nBars - 1)
IF (low[i] <> lowestLow) AND (abs(low[i] - lowestLow) <= studsThreshold) THEN
Count = Count + 1
lowestBounce = min(lowestBounce,low[i])
ENDIF
NEXT
ENDIF
Bounce = (Count >= BounceBars)
// Initialize counter for studs and tracking the lowest bounce
IF (close > ema14) AND Not OnMarket AND Bounce THEN
BUY 1 Contract at Market
StopLoss = lowestBounce - stopLossBuffer
SET STOP PRICE StopLoss
ENDIF
// Exit condition: Close position if price crosses below the EMA14
IF close < ema14 THEN
SELL AT MARKET
ENDIF
//
//graphonprice StopLoss AS "Stop Loss" coloured("Red")
//graphonprice TradePrice AS "Entry Price" coloured("Blue")
//graphonprice lowestBounce
