I would like to create a auto trading template that will allow me to easily change variables and compare results.
I have tried following posts here and the ProRealTime manuals but frankly I just seem to get more confused!
To reduce false entries I want to use 2 bands for entries which are 50% of the daily range above and below each bar as follows:
upper-band = high + ((high – low) * 0.5))
lower-band = low – ((high – low) * 0.5))
This is what I want. (Long trade example)
If the various Long conditions c1, c2, c3 are met, a long trade will be entered if the price breaks above the upper-band level.
The initial Stop Loss is NS points below the entry level. (I want to use points not lots)
The Stop is moved to break even if the lower-band crosses above the entry level.
If the Stochastic 14,3,3 is overbought, the Parabolic SAR (default values) is used as a trailing stop.
Thank you in advance for your help!
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