FCPO trading robot is build based on one of the WR FCPO Trading Strategy.
The script will identify accumulation candle , Small candles (Min 2) inside Big Candle with Simple Moving Average (SMA) to identify trend Up or Down for Long or Short Entry condition at specific timeframe and will advice entry value and calculate advice take profit and stop loss based on % settable in the preset. Once entry is confirm, script will popup one label with detail of Long Entry Condition or Short Entry Condition.
This is an accumulation candle being identified by the script :
This is an example of indicator produced :
This is an example of Long Entry Condition :
This is an example of Short Entry Condition :
Recommended Chart Settings:
Asset Class: FCPO Active Contract Time Frame: 5 Minute
Long Entry Conditions:
a) Green Label with information of Buy Stop value, Take Profit Value and Stop Loss Value b) Buy Stop value will be plot with Black Circle symbol on the chart b) Take Profit value will be plot with Orange Cross symbol on the chart b) Stop Loss value will be plot with Red Cross symbol on the chart
Short Entry Conditions:
a) Red Label with information of Sell Stop value, Take Profit Value and Stop Loss Value b) Sell Stop value will be plot with Black Circle symbol on the chart b) Take Profit value will be plot with Orange Cross symbol on the chart b) Stop Loss value will be plot with Red Cross symbol on the chart
Take Profit and Stop Loss value can be change based on user risk management.
The entry label will appear once WR Q-Wyckoff Technique is valid (Accumulation Candle).
Exit Conditions: a) Stop loss level is hit b) Take profit level is hit c) Last candle at the end of the day (at 17:59:45 or earlier)
Disclaimer:
This is a FCPO trading strategy that involves high risk of equity loss, You agree to use this script at your own risk.
If you have any suggestions, comments or interested to use this script, kindly PM us to obtain an access.