Updated: Feb 3, 2020
This is an enhanced pending order cBot. Instead of defining a price to enter the market, you define a price range where a trade may open.
Order is opened when the current ask price is in the range defined and volatility and trend strength are picking up.
You may set “Open trade on Start” to yes so the order may open immediately when you start the cBot.
How it works
The “Target TP” price used as take profit and the “Pivot SL” price used as the stop loss.
Trade will open on the rules bellow:
- Ask price is smaller than target price, buy order is opened.
- Ask price is bigger than target price. Dell order is opened.
- Ask price is between target and pivot price.
- “Distance from Target/Pivot” in pips defines the minimum distance between ask
price/pivot price and ask price/target price.
- ADX value must be greater than 20.
-if MACD signal line cross above MACD line, sell order opened.
- If MACD signal line cross bellow MACD line, buy order opened.
Volume is calculated depending on the Pivot/SL price you’ve defined and the amount in your account’s currency you want to risc.
Download here: https://ctrader.com/algos/cbots/show/2046