Volume > Volume EMA 14

Algos, strategies, code
1

Please Code this Strategy

Buy: if previous/Last candle is Green Candle & Volume > Volume EMA 14
Stoploss: Low of previous candle (signal generating candle/candle before the entry candle)

Sell: if previous/Last candle is Red Candle & Volume > Volume EMA 14
Stoploss: High of previous candle

Exit Long: with the gain of 5 points

Exit Short: with the gain of 0.2% points

In both the conditions new signal should be generated only after waiting for 1 more candle.
[Suppose its a 30 min candle. Buy signal generated at the close of 10:00am candle (i.e. it’s a green candle and Volume > Volume EMA 14), Long position will be taken at the open of 10:30am candle i.e. at 10:00am. Stoploss shall be the low of 10:00am candle. Then next buy or sell signal should be generated only at or after close of 11:00am candle and not at the close of 10:30am Candle]

2

Buy Script:

REF(CLOSE,1)>REF(OPEN,1) AND VOLUME>EMA(VOLUME,14)

Stop Loss:

REF(LOW,1)

Exit Buy:

REF(CLOSE,1)<REF(OPEN,1)

Sell Script:

REF(OPEN,1)>REF(CLOSE,1) AND VOLUME>EMA(VOLUME,14)

Stop Loss:

REF(HIGH,1)

Sell Exit:

REF(OPEN,1)<REF(CLOSE,1)

We can not write for exit as we can not justify after 5 points or in %

3

Thanks for the prompt reply.
If we can not write for exit than how do i define my targets.

4

And how about, [Then next buy or sell signal should be generated only at or after close of 11:00am candle and not at the close of 10:30am Candle]

5

you can exit after bullish and bearish candle… check the above updated answer

6

But why should i exit a long position at a red candle…sorry, but that doesn’t make any sense…
Any trader would like to define a definite target in points or %…whats the solution for that…
And please give the code for the:
[Then next buy or sell signal should be generated only at or after close of 11:00am candle and not at the close of 10:30am Candle]]

7

See the zerodha code where at the end you have mentioned that sell after realizing 5% profits…
How to define that…
Bullish Engulfing (for long trades)
The strategy is based on 2 candlestick patterns.
A buy is generated when the following conditions occur over the previous 2 candles –
1.The overall trend is down
2.A red candle is followed by a green candle
3.The open of the green candle is lower than the close of the red candle
4.The close of green candle is greater than the open of the red candle.
The strategy is useful to identify long trades only. The sell signal (as defined by Sell Script) given here is based on an arbitrary logic, consider the sell script as a place holder here. The trader can define his own sell logic. For example sell after realizing 5% profits.