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Forums>AlgoWizard / EA Wizard>General Discussion>Custom Indicator – Outpot true over a number of previous bars

  • #233243 |
    Participant
    6 Posts

    Hi,

    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.

    Many thanks.

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    #233251
    tomas262
    Administrator
    1821 Posts

    Hello,

    yes, you can use the Shift = (1,2,3) and setup conditions using ‘OR’ logic so you will have 3 lines in the above section at least (AND can be clicked to OR)

    Let me know if any questions

    #233256
    Participant
    6 Posts

    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.

    Many thanks

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    #233258
    Participant
    6 Posts

    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)

    Many thanks

    #233277
    Participant
    6 Posts

    I have figured out how to do the Stop Loss and Take Profits by referencing the upper/lower points in the Supply/Demand Zones.

    I will be able to continue testing the trade logic from here and I am sure I can work out the partial close functionality at a later date.

    #233292
    tomas262
    Administrator
    1821 Posts

    Hello,

    the partial close can be easily done using built-in EA Wizard function. See the screenshot

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