PROTECTED SOURCE SCRIPT
AmDuong Candle
For buying: BAND GREEN
Place a buy stop pending order 2-5 pips above the the high of the candlestick which has a lower high than the previous candlestick after the 12 EMA crosses the 26 EMA to the upside.
If the next candlestick breaks the high of the previous candlestick, this pending buy stop order will be activated. But if not, keep moving the pending buy stop pending order above each new lower high candlestick that forms until the high is broken and trade is activated.
Place your stop loss 2-5 pips below the low of the candlestick that has its high broken which then activated your buy stop order. However, if there is a nearby, swing low point (support level), then its best to use that as well and place you stop loss a few pips outside of the support level.
For Selling: BAND RED
Place a sell stop order 2-5 pips below the low of the candlestick which has a higher low than the previous candlestick after the 12 EMA crosses the 26 EMA to the downside.
If the next candlestick breaks the low of the previous candlestick, this pending sell stop order will be activated. But if not, keep moving the pending sell stop order below each new higher low that forms until the low of the previous candlestick is broken and trade is activated.
Place your stop loss 2-5 above below the high of the candlestick that has its high broken which then activated your sell stop order. However, if there is a nearby, swing high point (resistance level), then its best to use that as well and place you stop loss a few pips outside of the that level.
Place a buy stop pending order 2-5 pips above the the high of the candlestick which has a lower high than the previous candlestick after the 12 EMA crosses the 26 EMA to the upside.
If the next candlestick breaks the high of the previous candlestick, this pending buy stop order will be activated. But if not, keep moving the pending buy stop pending order above each new lower high candlestick that forms until the high is broken and trade is activated.
Place your stop loss 2-5 pips below the low of the candlestick that has its high broken which then activated your buy stop order. However, if there is a nearby, swing low point (support level), then its best to use that as well and place you stop loss a few pips outside of the support level.
For Selling: BAND RED
Place a sell stop order 2-5 pips below the low of the candlestick which has a higher low than the previous candlestick after the 12 EMA crosses the 26 EMA to the downside.
If the next candlestick breaks the low of the previous candlestick, this pending sell stop order will be activated. But if not, keep moving the pending sell stop order below each new higher low that forms until the low of the previous candlestick is broken and trade is activated.
Place your stop loss 2-5 above below the high of the candlestick that has its high broken which then activated your sell stop order. However, if there is a nearby, swing high point (resistance level), then its best to use that as well and place you stop loss a few pips outside of the that level.
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