Part (1) Double Sevens Trading Strategy

To illustrate the best of converting strategies from theory to practical Expert Advisors, I want you to look at the trading strategy Double Sevens. This trading strategy is based on buying and selling pairs based on their position relative to their moving average. Buy signals will be entered when trading patterns are spotted above the moving average, while sell signals will be entered when the corresponding trading patterns are entered below the moving average.

Rules:

When a bar closes at the highest or lowest bar relative to the previous seven bars closes, the Expert Advisor triggers the corresponding buy or sell order. The strategy boasts a high success rate (which is up to you to work out) with more than half of the trades profitably closing out. This simple strategy doesnt utilize stop loss or take profit orders. However, the losing trades outweigh the winning trades so you wont get rich on this strategy without adding some of your own secret sauce. This simple strategy illustrates the ease through which trading ideas can be programmed into workable expert advisors. While Double Sevens is a relatively simple strategy, you (as a trader) can add or strip away varying degrees of complexity to your coded strategies to develop the algorithm you want. A simple strategy like Double Sevens, for example, can be customized in numerous ways to improve its performance, from restricting the pairs it trades on, to shifting the stop loss (SL) and take profit (TP) ratio.

Assignment:

Drawing (10 marks)

Firstly draw a graphical representation using candles of when this strategy will buy and when it will sell.

what kind of information is required as per my knowledge this is 100% complete knowledge please let me know ASAP