This Algorithm will trade the market as follow:
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FOR BUY POSITION
Check for candlestick pattern in the 5 minute period.
1st condition:
If the second last 5 minute candle is a bull pattern
2nd condition:
If the last candle is green.
3rd condition:
If the high of the 3 last candles are not going down.
4th condition:
If the last 1 hour period candle is green.
5th condition:
If the body of the last 1 hour period candle is tall enough.
6th condition:
If the shadow of the 1 hour period candle is shorter than his body.
FOR SHORT CONDITION THE SAME BUT UPSIDE DOWN.
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CLOSING BUY POSITION
1st condition:
Set as a normal Stop Loss the Lower Low of the last 2 candle of 5 minute period.
2nd condition:
If the current market price is now a few points above the price at the entry position.
3rd condition:
If the second last candle of 5 minute period is a reverse pattern, Close Position.
4th condition:
Condition for 1 minute period.
If the current market price is now a few points above the entry price and
if it turns back to the price at the entry position and
if the current candle is bear, Close Positon.
5th condition:
If the atutomatic stop loss has not been set the loss reach 0.9% of the total bet, Close Position.
FOR SHORT CONDITION THE SAME BUT UPSIDE DOWN.
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