Hello Traders in the world, Today I have a new Idea for creating Robot trading with Zone recovery and OverBougth and Oversold of William Percent R.
OK let's go to an understanding of my algorithm trading.
My robot is named William XR2.
William XR2 how to work?
First initial trading.
When the current price move above the previous Closed price of the candlestick to open BUY.
When the current price move below the previous Closed price of the candlestick to open SELL.
and always open stop orders to the opposite for recovery strategy that maximum orders are total 4 orders.
Close all orders with TP in Money.
If the Maximum orders are full and the direction price move wrong.
The next algorithm is to check the conditional with the William percent R indicator.
If the direction price moves up. Open SELL with William%R Indicator
Above Line -10 and check the distance from the first Order to the wrong direction
to fix a lot for recovery.
If the direction price moves down. Open BUY with William%R Indicator
Below Line -90 and check the distance from the first Order to the wrong direction
to fix a lot for recovery.
I will set up open orders for every next 1000 points from the last orders.
and Close all orders with TP in Money.
When closed all orders with TP then loop to initial trading again.
P.S. Before trading, You should planning about Your Money Management for surviving
For effective. I have combined them to run on the RENKO chart.
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My default setting.
Max trades is 4 orders for maximum zone recovery
Grid Size is 300 points. it's the mean distance orders in the zone recovery.
TP in money. I set it to 300 because my account is a cent account from broker Exness.
100 cent equals 1 us dollar therefore I setup TP to 3 us dollars
If your account is standard. You can set TP to 3 which means 3 dollars. I don't set SL because I want close all orders and exit with profit. therefore Before trading, You should be planning Your Money Management for surviving.
Lots are 3. it means an initial lot size to trade. because my account is a cent account from broker Exness that I set up to 3.
If the account is standard it means the lot size is 0.03.
Lot Exponent is 2. it means multiplying the lot size martingale of Zone recovery.
Distance is 1000 points. it means every next 1000 points from the last orders.
If the direction price moves up. Open SELL with William%R Indicator
Above Line -10 and check the distance from the first Order to the wrong direction
to fix a lot for recovery.
If the direction price moves down. Open BUY with William%R Indicator
Below Line -90 and check the distance from the first Order to the wrong direction
to fix a lot for recovery.
Lot recover is 1. it means to fix a lot for recovery.
Multi Lots is 1. it means I want to fix a lot. Turn off martingale of lot recovery
I will show you in video demo backtest for understanding how to work.
Inserted Video
Money Never Sleeps
