Quantower Add-On
Budget: $250 – $750 USD
Seeking someone with some experience developing for Quantower.
OVERVIEW
This add-on will augment my discretionary trading by implementing a simple set of buttons to a chart’s UI allowing for entry, exit and take profit orders to be automatically set up based on the certain parameters when the add-on is activated.
The strategy the add-on will implement is essentially a basic moving average crossover strategy, with a couple of extra features. Once the faster moving average crosses the slower moving average, the bot will automatically place an order attached to the faster moving average (the idea being once the faster moving average is tested after the crossover there will be some continuation in the price movement). The stop loss will be calculated based on a multiple of ATR and take profit will be calculated based on a multiple of risk (the difference between the entry and the stop), with an additional option to automatically move the stop to breakeven once price hits another multiple of risk.
REQUIREMENTS
• 2 new buttons to be added to the chart the bot will run on.
1. Activate/Deactivate (to turn the bot on and off, single button that switches states)
2. Settings (to define the parameters below, will open settings box when clicked)
• All entries and take profit orders should be limit orders, all stop losses should be market orders.
• When activated, the bot will open a limit order at the fast moving average, calculate the stop distance based on an ATR multiple and if the order executes open a take profit based on an R multiple.
• All orders should be updated every 10 minutes. For example if orders are to be made based on the crossover then they will need to be adjusted every 10 minutes to account for the latest moving average value and ATR value.
• Once a trade has been opened the bot will deactivate until it is manually reactivated by clicking the activate button.
PARAMETERS FOR SETTINGS
Fast Moving Average Type: SMA, EMA (Default: “EMA”)
Fast Moving Average Period: Integer (Default: “21”)
Slow Moving Average Type: SMA, EMA (Default: “EMA”)
Slow Moving Average Period: Integer (Default: “55”)
Entry Offset: Integer (Default 0).
If “0” is entered, then the entry order will be exactly at the price of the fast moving average. If 10 is entered then the offset will be 10 USD above the fast moving average (if the fast is above the slow), or 10 USD below the fast moving average (if the fast is below the slow).
ATR Period: Integer (Default: “14”)
ATR Multiplier: Integer (Default: “2”)
The stop loss for any entries will be created based on a multiple of the ATR as in the image above.
Take Profit Multiplier: Integer Default: “3” (so 1:3 RR).
The initial take profit will be set up based on a risk/reward calculated from the stop loss position.
Break Even: Integer (Default: “2”)
Also based on risk/reward. The stop loss will be automatically moved to break even one price has hit the defined risk/reward level.
Break Even Offset: Integer (Default: “150”)
This will define how far above or below entry the stop will be moved to. “0” will mean exactly at entry, “-10” would mean 10 USD below/above entry (depending on if long or short respectively) and so on.
OVERVIEW
This add-on will augment my discretionary trading by implementing a simple set of buttons to a chart’s UI allowing for entry, exit and take profit orders to be automatically set up based on the certain parameters when the add-on is activated.
The strategy the add-on will implement is essentially a basic moving average crossover strategy, with a couple of extra features. Once the faster moving average crosses the slower moving average, the bot will automatically place an order attached to the faster moving average (the idea being once the faster moving average is tested after the crossover there will be some continuation in the price movement). The stop loss will be calculated based on a multiple of ATR and take profit will be calculated based on a multiple of risk (the difference between the entry and the stop), with an additional option to automatically move the stop to breakeven once price hits another multiple of risk.
REQUIREMENTS
• 2 new buttons to be added to the chart the bot will run on.
1. Activate/Deactivate (to turn the bot on and off, single button that switches states)
2. Settings (to define the parameters below, will open settings box when clicked)
• All entries and take profit orders should be limit orders, all stop losses should be market orders.
• When activated, the bot will open a limit order at the fast moving average, calculate the stop distance based on an ATR multiple and if the order executes open a take profit based on an R multiple.
• All orders should be updated every 10 minutes. For example if orders are to be made based on the crossover then they will need to be adjusted every 10 minutes to account for the latest moving average value and ATR value.
• Once a trade has been opened the bot will deactivate until it is manually reactivated by clicking the activate button.
PARAMETERS FOR SETTINGS
Fast Moving Average Type: SMA, EMA (Default: “EMA”)
Fast Moving Average Period: Integer (Default: “21”)
Slow Moving Average Type: SMA, EMA (Default: “EMA”)
Slow Moving Average Period: Integer (Default: “55”)
Entry Offset: Integer (Default 0).
If “0” is entered, then the entry order will be exactly at the price of the fast moving average. If 10 is entered then the offset will be 10 USD above the fast moving average (if the fast is above the slow), or 10 USD below the fast moving average (if the fast is below the slow).
ATR Period: Integer (Default: “14”)
ATR Multiplier: Integer (Default: “2”)
The stop loss for any entries will be created based on a multiple of the ATR as in the image above.
Take Profit Multiplier: Integer Default: “3” (so 1:3 RR).
The initial take profit will be set up based on a risk/reward calculated from the stop loss position.
Break Even: Integer (Default: “2”)
Also based on risk/reward. The stop loss will be automatically moved to break even one price has hit the defined risk/reward level.
Break Even Offset: Integer (Default: “150”)
This will define how far above or below entry the stop will be moved to. “0” will mean exactly at entry, “-10” would mean 10 USD below/above entry (depending on if long or short respectively) and so on.