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An good EA for auto trade needs to have:
(1) Entry Module: this purely bases on price. The output is price to enter the market, SL level, TP level. SL and TP levels should be modified (updated) when time and price change.
These lead to the following sub-modules:
(1.1) signal (when to open a market order);
(1.2) SL_level;
(1.3) TP_level.
To increase the hit rate, it is helpful to reduce the variables that affect the market movement. Trade on certain session, on certain days,... so there needs to be a module that only allow trades to open at certain timing. This leads to a the need to have a module named:
(1.4) TradeTime
A signal should not just based on the value of an indicator which is calculated from historical price like RSI>80 or price is above BB200 line,... Using RSI>80 only is has too low hit rate. Instead, it is necessary to evaluate past RSI values. OR, using multiple RSI. Currently "RSI_Multi" indicator is for this.
(2) Lot size Module
(1) Entry Module: this purely bases on price. The output is price to enter the market, SL level, TP level. SL and TP levels should be modified (updated) when time and price change.
These lead to the following sub-modules:
(1.1) signal (when to open a market order);
(1.2) SL_level;
(1.3) TP_level.
To increase the hit rate, it is helpful to reduce the variables that affect the market movement. Trade on certain session, on certain days,... so there needs to be a module that only allow trades to open at certain timing. This leads to a the need to have a module named:
(1.4) TradeTime
A signal should not just based on the value of an indicator which is calculated from historical price like RSI>80 or price is above BB200 line,... Using RSI>80 only is has too low hit rate. Instead, it is necessary to evaluate past RSI values. OR, using multiple RSI. Currently "RSI_Multi" indicator is for this.
(2) Lot size Module
