EA LCCM LV1 – CH1

Description

We will create an EA LCCM LV1 on Giga using the most basic level of the LCCM level 1 method.

Entry:

• Candle breaks through resistance or support.
• The candle’s length should not exceed 700 points.
• The candle’s retracement should not exceed 50%.

SL (Stop Loss):

• Buy SL: Place SL below the lowest point of the nearest bearish candle BELOW SUPPORT + 30 points.
• Sell SL: Place SL above the highest point of the nearest bullish candle ABOVE RESISTANCE + 50 points.

Close:

• Close Buy: If the price reverses and the candle closes below MA20, close the trade.
• Close Sell: If the price reverses and the candle closes above MA20, close the trade.
• When there is 1 candle retracement of 60% of the breakout candle.
• When there are 2 candle retracements of 70% of the breakout candle.

Buy Entry Configuration:

Go to the Entry tab of FXCE Giga and select the Buy option.

– The length of the breakout candle should not exceed 700 points (7 USD): Candle – Length < 700.

– The breakout candle should be red (Resistance). The resistance value is Buffer 0.

• Lowest price of Candle 1: (Candle – Low) < KQ_CandongOC – Buffer 0.
• Closing price of Candle 1: (Candle – Close) > KQ_CandongOC – Buffer 0.

– The candle should not have a shadow retracement of more than 50% of its length: The breakout candle is a bullish candle with a closing price (%) greater than 50. Candle – % Close / Length > 50.

Sell Entry Configuration:

Go to the Entry tab of Giga and select the Sell option.

– The length of the breakout candle should not exceed 700 points (7 USD): Candle – Length < 700.

– The breakout candle should be green (Support). The support value is Buffer 1.

• Lowest price of Candle 1: (Candle – High) > KQ_CandongOC – Buffer 1.
• Closing price of Candle 1: (Candle – Close) < KQ_CandongOC – Buffer 1.

– The candle should not have a shadow retracement of more than 50% of its length: The breakout candle is a bearish candle with a closing price (%) less than 50. Candle – % Close / Length < 50.

Setting Volume for Buy Trade:

Go to the Volume tab of Giga and select the Buy option.

• Volume: Fixed Lot 0.1.
• SL (Stop Loss): Place SL below the lowest point of the nearest bearish candle + spread of 30 points. Use the CalcSL-ReverseBar indicator to automatically set the SL price – Buffer 0.
• TP (Take Profit): Do not set TP, choose None as the value.

Setting Volume for Sell Trade:

Go to the Volume tab of Giga and select the Sell option.

• Volume: Fixed Lot 0.1.
• SL (Stop Loss): Place SL above the highest point of the nearest bullish candle + spread of 30 points. Use the CalcSL-ReverseBar indicator to automatically set the SL price – Buffer 0.
• TP (Take Profit): Do not set TP, choose None as the value.

Setting Close for Buy Trade:

Go to the Close tab of Giga and select the Buy option to set the conditions for closing the buy trade.

If the price reverses and the candle closes below MA20, close the trade. Compare the open price of the candle to MA20 and the close price of the candle to MA20.

• Candle – Open > MA20 – Buffer 0.
• Candle – Close < MA20 – Buffer 0.

When there is 1 candle retracement of 60% of the breakout candle: At this point, the breakout candle will be Candle 2. Compare the closing price of Candle 1 to 60% of the rally price of Candle 2 to determine if the trade should be closed.

When there are 2 candle retracements of 70% of the breakout candle: At this point, the breakout candle will be Candle 3. Compare the closing price of Candle 1 to 70% of the rally price of Candle 3 to determine if the trade should be closed.

Setting Close for Sell Trade:

Go to the Close tab of Giga and select the Sell option to set the conditions for closing the sell trade.

If the price reverses and the candle closes above MA20, close the trade. Compare the open price of the candle to MA20 and the close price of the candle to MA20.

• Candle – Open < MA20 – Buffer 0.
• Candle – Close > MA20 – Buffer 0.

When there is 1 candle retracement of 60% of the breakout candle: At this point, the breakout candle will be Candle 2. Compare the closing price of Candle 1 to 60% of the retracement price of Candle 2 to determine if the trade should be closed.

When there are 2 candle retracements of 70% of the breakout candle: At this point, the breakout candle will be Candle 3. Compare the closing price of Candle 1 to 70% of the retracement price of Candle 3 to determine if the trade should be closed.

Setting up Entry in EA

In CH1, the EA only executes single trades and does not stack orders when encountering subsequent obstacles. Therefore, in the Setting tab, select “Open Trade” and choose “Check Entry Tab Without Position” (which means only check the entry conditions when there is no position).

LCCM Level1 is a trend-following trading method, so we should choose the appropriate trading timeframe to achieve high efficiency. Therefore, we can also set the Trading Time section.

Leave the remaining parameters and options at their default settings.

Due to the Single Shot system, only use the Standard Action.