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This is an indicator of “round levels” with a module of a Trading System based on market scenarios near psychologically significant “market prices”. By visualizing SL and TP trading levels and simulating trades when they interact with OHLC prices, the module collects statistics for the specified period and builds a “yield curve” based on it in the interface, which allows you to control the expected profitability of trading signals.

The algorithm is based on The Elementary, Watson! (EW) trading system for GBPUSD H1 by Yu, a teacher at the International Academy of Investment and Trading.Lozgachev, the rules of which are based on the 3 typical scenarios of the market: Rebound, Breakdown, Pullback (screenshot#1).

Designations:

  • System – trading system;
  • Price – the closing price of the period/bar;
  • Level – ” round level»;
  • Order-pending order;
  • Position – open position.

Designations:

  • System – trading system;
  • Price – the closing price of the period/bar;
  • Level – ” round level»;
  • Order-pending order;
  • Position – open position.

Each Level is characterized by a Junior and Senior ranges, which determine the boundaries in which the Price is most often consolidated before the development of one of the scenarios.

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Profit-taking and loss-limiting parameters are almost always linked to the boundaries of the ranges of neighboring Levels (screenshots #9,10).

Most of the parameters have an intuitive name, and their purpose does not require explanation. The most important ones are listed below:

  • Round Step – step between levels
  • Radius of Smaller – Range-radius of the Lower range
  • Radius of Bigger – Range-the radius of the Higher range

Dates

  • Initial Date – the initial date of the test
  • Last Date – the final date of the test
  • Navigate chart? – on / off shift the graph to the Initial Date or to the Last Date

Order (see screenshot #8)

  • Pending Order Level-indent for Order execution
  • Order’s Prohibition Area level – indent, the space in which the algorithm is prohibited from placing an Order
  • Order Expiration Period expiration of Warrants

Stop loss (see screenshot #9)

  • STOPLOSS METHOD: – drop-down list of methods
  • Fixed SL-Level-parameter of the “Fixed SL” method»
  • Constant space between opposite Bigger-Range border and SL-Level-parameter of the method ” Constant indent of the SL price from the border of the Higher range»
  • Period for iatr () for the distance calculated by volatility – The period of the iatr() indicator for the “SL” method calculated based on the iatr volatility indicator()»
  • Multiplier for iATR(Period) – multiplier for the iatr indicator (Period)

Take profit (see screenshot #10)

  • TAKEPROFIT METHOD: – drop-down list of methods
  • Any added distance to the next Round-Level-parameter of the method “Any added distance to the price of the next round level”.

Position Tracking

  • Trailing-Activation Level – the level of algorithmic trailing activation
  • Trailing-Stop Level
  • Open-Position Limiting-Period-the limit of waiting for the scenario to develop for setting parity (breakeven) Positions
  • Inverse direction of all deals? – on / off inversion of ” transactions»

  • Fixed Spread Account;
  • loaded history of M1 and working timeframe;
  • exclusion of working with huge spreads.

Warning

The indicator does not contain money management algorithms. Statistics (excluding swaps) are calculated in points, so the results are close to the fixed lot method.

The indicator does not contain money management algorithms. Statistics (excluding swaps) are calculated in points, so the results are close to the fixed lot method.

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Published

27 April 2018

Updated

Current Version

1.0

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