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Brijon Concept of Threes
MQ4 API
 

Brijon_Concept_of_Threes_auto_trading_robot_by_Steve_Hopwood API

Author:
Steve Hopwood

Overview

As I understand it, here is the system:

Trade direction: Brijon appears to use double tops to confirm short direction, and double bottoms to confirm long direction. To see the charts as he sees them: turn the chart to Line Chart type. you can see the classic M and W patterns that constitute the double tops (M) and bottoms (W) that Brijon is looking for. The more difficult ones can take a bit of imagination. In a confirmed upwards moving market, we are looking for the market to rise above the upper blue line; when this happens we buy. In a confirmed downwards moving market, we are looking for the market to fall below the lower blue line; when this happens we sell. Stop loss is the hi/lo of the previous candle. The EA also allows for a 'hard' stop loss. There is no take profit. Trades are allowed to run until closed by manual interevention. Many here would use mptm to manage these trades. The ea also offers: a 'hard' take profit a tp based on the length of the previous candle - set UseCandleLength to 'true' to use this. From here on, 'Brijon' or 'B' refers to the EA, not the human trader.

Automated trade direction confirmation I know of no way to detect the M and W configurations shown up by a line chart; instead I have adopted these 4 strategies, using different combinations of the UseD1Close and UseW1Close inputs:

You do not need the indi; the code is inside B, thanks to Squalou. Take care with loading the indi onto a chart; is is a resource hog and will hammer your processor. B consults the Bosun lines when deciding on a trade direction. It will not send a trade if the market is < AllowablePipsFrom_S_RAllowablePipsF rom_S_R away from the next line. Set this to zero to turn off this filter. Good luck deciding which to use. Frankly, if this decision were an easy one to take, then we would all be rich by this time next week.

Trend direction control You can control the direction in which B trades with the TradeLong and TradeShort inputs.

B as an aid to manual trading Setting SendAlertNotTrade to 'true' tells B not to send a trade, but to notify you with an Alert when it considers a trade-trigger to have happened. If you know how to set up your platform to send emails, it will also send you an email alert.

Trading hours B comes with the usual trading hours inputs. Input these in your own local time. I suggest you turn off trading for two hours after the start of your new D1 candle, to give the trend time to settle down and establish itself. My trading times will be reflected in the default settings, so alter these to suit yourselves.

Open trade management B comes with the usual mptm features that are common to all my ea's. You can download the full manager by following the link in my signature. B will also manage trades you have opened manually so long as they have the same magic number.

One feature that is new and not found in mptm is the trailing stop based on a percentage of the size of the Square. This is a feature the Brian requested. To use it, scroll down the inputs to the trailing stop section:

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