EA to buy when evening star pattern fail and sell when morning star pattern fail

[Arrow82]

HI Everyone, I am in the progress of making EA in which,
buy criteria:

1. wait for evening star pattern to form.
2. wait for price to close above the evening star pattern.
3. enter at the next candle after break and close of the evening star pattern.

Sell criteria:

1. wait for morning star pattern to form.
2. wait for price to close below the morning star pattern.
3. enter at the next candle after break and close of the morning star pattern.

Any kind soul to help to create EA on my request,
Million thanks.

[jstap]

@arrow82 I may be wrong but I doubt any one will create your whole EA, if you make a start (get the morning/evening star working) then many people will help you create. Once started put a shared link here and ask about any problems.

[TipsyWisdom]

@arrow82 said in EA to buy when evening star pattern fail and sell when morning star pattern fail:

HI Everyone, I am in the progress of making EA in which,
buy criteria:

1. wait for evening star pattern to form.
2. wait for price to close above the evening star pattern.
3. enter at the next candle after break and close of the evening star pattern.

Sell criteria:

1. wait for morning star pattern to form.
2. wait for price to close below the morning star pattern.
3. enter at the next candle after break and close of the morning star pattern.

Any kind soul to help to create EA on my request,
Million thanks.

whats the logic for each star pattern?

[Arrow82]

@tipsywisdom
Hi Tipsy, thanks for asking, we skip this morning and evening star.. My new strategy as follows :
Buy on the bearish engulfing fail :
**

• conditions:**
  Wait for Bearish engulfing fail to form, after some time, the price not able to push down, instead the price reverse and push up and price close above the bearish engulfing fail candle, then trigger to buy and stop loss will be bearish engulfing candle low.

Sell on the bullish engulfing fail :
**

• conditions:**
  Wait for Bullish engulfing fail to form, after some time, the price not able to push up, instead the price reverse and push down and price close below the bullish engulfing fail candle, then trigger to sell and stop loss will be bearish engulfing candle low.

TP will be twice of the risk taken per trade.
I will attach picture for your reference. Kindly help on this. I manual trade shows success on this...I wanted to automate. Million thanks. !

[biztet]

@Arrow82 how do you think the block structure to read your engulfing candle as in you description? You can't put your head inside fxdreema's block.

[Arrow82]

@biztet Yeah , Look like need to store value of the previous engulfing formation and once price break those mentioned level, enter trade..
I am still struggling what the next step to develop this. lol

[jstap]

@arrow82 Start by creating a project that identifies your version of engulfing candle, then you have the candle ID to work from, remember every new candle adds 1 to the ID.

[Arrow82]

@jstap thanks for your reply.
How to determine the price can reverse, it may take few candles or more than 10 candles to reverse back and break the engulfing formation...Can you please advise on my concerns. thanks

[jstap]

@arrow82 Once you have the candle ID you have open/high/close/low prices, then simply if market properties interact with chosen price do what is needed.

[TipsyWisdom]

yep, biz and jstap are hot on it.

Its all in the mindset of getting your brain to be able think through it block by block.

For this project, you first just need to identify each candle that is engulfed, I would suggest starting simply with a horizontal line at each, and then upgrade to a trend line extended a short time into the future (to keep the charts clean).

Irrelevant of your other rules for entries, you then will have to define the validation and invalidation rules that make sure that is a engulfed candle that you want to trade i.e.

A candle is engulfed, the one you want is marked. Price moves away from it for 1 month before going back to the area...is it still a valid area to use?

[Arrow82]

@tipsywisdom
Thanks for your advise. I will explore on what you had mentioned.
to answer your questions. if a candle is engulfed and it's still valid if price not yet breached the engulfing formations. time doesn't matter.. i hope it answer your questions.
thanks for taking your time and suggestion.
Appreciate.