EA LCCM LV1 – CH2

Description

Next, in CH1, we will configure the EA LCCM to execute trade entries. There are two ways to enter trades set up in the Entry tab as follows:

If the resistance level is broken by a candle, and the next two candles close above the resistance, then add a buy order.

• Buy Order: After breaking the red resistance, if the price closes above the resistance for two consecutive candles, add an additional buy order.
• Sell Order: After breaking the green support, if the price closes below the support for two consecutive candles, add an additional sell order.

When the price continues to break the next level of resistance,

• After breaking a resistance level, the KQ_CanDongOC indicator will find a new resistance level for the new candle. If the new candle continues to break the new resistance level, then add a trade entry.

Close the trade in the Close tab: If after testing the new resistance level twice, the candle fails to break the resistance, close the trade to take profits. Use the KQ_TestRS indicator to count the number of resistance tests.

Setting the Entry Buy condition:

After breaking the resistance level and the next two candles close above the resistance, add an additional buy order.

At this point, the candle that breaks the resistance will be the third candle.

• Bar 3 – Candle – Low < Bar 3 – KQ_CanDongOC – Buffer 0
• Bar 3 – Candle – Close > Bar 3 – KQ_CanDongOC – Buffer 0

The closing price of candle 2 and candle 1 must be higher than the resistance level in candle 3.

• Bar 2 – Candle – Close > Bar 3 – KQ_CanDongOC – Buffer 0
• Bar 1 – Candle – Close > Bar 3 – KQ_CanDongOC – Buffer 0

A prior trade entry has been made (meaning it satisfied CH1 and entered a trade).

• Position Info – Total Buy Positions = 1

Setting the Entry Sell condition:

After breaking the support level and the next two candles close below the support, add an additional sell order.

At this point, the candle that breaks the support will be the third candle.

• Bar 3 – Candle – High > Bar 3 – KQ_CanDongOC – Buffer 1
• Bar 3 – Candle – Close < Bar 3 – KQ_CanDongOC – Buffer 1

The closing price of candle 2 and candle 1 must be lower than the support level in candle 3.

• Bar 2 – Candle – Close < Bar 3 – KQ_CanDongOC – Buffer 1
• Bar 1 – Candle – Close < Bar 3 – KQ_CanDongOC – Buffer 1

A prior trade entry has been made (meaning it satisfied CH1 and entered a trade).

• Trade Info – Total Sell Positions = 1

Setting the volume for Buy-Sell orders:

If we want to maintain the same volume as in CH1, we will use a fixed volume for all trade entries.

If we want the volume for the trade entry after two candles to be 1.5 times the initial volume (as a ratio), and the volume for the trade entry that breaks the resistance remains the same as the initial order, we will have the following conditions:

Buy Volume:

• Total Buy Positions = 0 – Volume = 0.1
• Total Buy Positions = 1 – Volume = 0.15 (Volume for the trade entry after two candles)
• Total Buy Positions >= 2 – Volume = 0.1

Sell Volume:

• Total Sell Positions = 0 – Volume = 0.1
• Total Sell Positions = 1 – Volume = 0.15 (Volume for the trade entry after two candles)
• Total Sell Positions >= 2 – Volume = 0.1

Note: We can customize the volume based on our desired trading strategy.

Profit Taking – Fails to break the resistance after two tests:

Close Buy: If the KQ_TestRS indicator shows a downward arrow (Sell signal), it means the resistance level has been tested twice but not broken. Close the buy order.

• Bar 1 – KQ_TestRS – Buffer 1 – Has Signal.

Close Sell: If the KQ_TestRS indicator shows an upward arrow (Buy signal), it means the support level has been tested twice but not broken. Close the sell order.

• Bar 1 – KQ_TestRS – Buffer 0 – Has Signal.

Setting:

To allow the EA to add additional trade entries when the entry conditions are met, go to the Open Trade section and uncheck the “Check Entry Tab Without Position” option. (If this option is checked, it will only enter a single trade and not add additional entries unless there are no open positions and the conditions are met).

Keep the remaining parameters and options as default.

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