I have a custom indicator that essentially provides and exhaustion / reversal signal with an arrow. The output from this indicator is the extreme price in ‘Value 1’ output for bearish and ‘Value 2’ output for bullish.
I have a set of trading rules that and I want to add a rule of this reversal signal being ‘true’ over the past 3 bars.
I want to input a rule in EA Wizard for if: Value 1 (bearish reversal signal) is true (output value not equal to zero) over the past 3 bars.
Do I set a rule for the current bar (Value 1 not being equal to zero) and then use ‘or’ and add another rule with an input of ‘2’ in the ‘Shift’ parameter, then repeat this with a ‘Shift’ parameter of 3 for the third bar?
I guess I am asking for confirmation on if this ‘Shift’ input parameter i EA Wizard is what I am thinking it is for a previous bar.
Thank you for the confirmation. Inputs should be simple.
I have another question. I have attached an example trade entry abut have some questions on defining a stop loss based on a custom indicator output plus adjustment and also a TP based on R:R of the stop loss.
<span style=”text-decoration: underline;”>Stop Loss</span>
– The Supply/Demand indicator has an output for the high of the Supply Zone(14 pips above the entry price). I would like to set the Stop Loss as this output number “Plus 3 Pips”.
– When I use either the basic stop loss function I can reference the indicator output level but cannot see how I can add the “Plus 3 pips” to this.
– If I use Global SL then I assume I need to input this as a formula? I assume I can copy the iCustom formula generated from the basic SL function but how to I then add the 3 pips? And is it possible to have this 3 pips as a variable parameter?
<span style=”text-decoration: underline;”>Take Profit
</span>- I cannot see how I can input this as a reference of the Stop Loss. Does this need to be done by formula?
– Is it possible to have a TP1 and then have a second TP2 based on trailing stop? If nto I m happy to just have a single TP based on a R:R multiple.
Looking further at EA Wizard options. Could I leave the original trade entry rule as having no SL and then create other rules based on “If Market Position is Short/Long” to:
(1) Close position as the Stop Loss
(2) Partially Close position for TP1
(3) Close remainder as TP2 (I can’t see how to do this as a trailing stop)
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