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Richard Donchian’s Strategy
Source: https://fxcodebase.com/code/viewtopic.php?f=31&t=64915
Forum: 31 · Topic 64915 · 1 post(s)
Richard Donchian’s Strategy
Apprentice · Mon Jul 10, 2017 4:42 pm
Based on request. viewtopic.php?f=27&t=64640
1) if there is no position, place buy stop entry order at highest of previous 4 candles, place sell stop entry order at lowest of previous 4 candles. 2) if there is short position, place buy stop close entry order at highest of previous 4 candles to close the short position place the stop open order at the same level to open new long position. 3) if there is long position, place sell stop close entry order at lowest of previous 4 candles to close the long position place the stop open order at the same level to open new short position. 4) the order placed at 5pm will be cancelled (if not triggered) and replaced by new orders at 5pm next trade day.
Richard Donchian’s Strategy.lua
The Strategy was revised and updated on January 21, 2019.