Prop Firm cBot Example (Made with AlgoBuilderX)

// This cBot was created with AlgoBuilderX
//
// AlgoBuilderX is a powerful tool for creating automated trading strategies on the cTrader platform.
// With an intuitive drag-and-drop interface, you can easily build and customize your own trading
// algorithms without any coding knowledge. Whether you're a beginner or an experienced trader,
// AlgoBuilderX offers a seamless experience for developing, testing, and deploying your very own cBot
//
// Visit https://algobuilderx.com to start building your own cBots today!

16/04/2024: The code has been updated and fixed

This cBot is an example, made for demonstration purposes using AlgoBuilderX and works only on demo accounts.

Through this example cBot (fully functional on a demo account), we wish to demonstrate to you the potential of AlgoBuilderX. We want to show you how you can create risk management conditions and parameters to develop your own customized strategy, ideal for use within Prop Firms.

Strategy: This cBot takes advantage of the signals generated by the TRIX indicator. When there are no trades and the value of TRIX is greater than the "TRIX Buy Trigger" parameter, a long position is opened. When the value of TRIX is less than the "TRIX Sell Trigger" parameter, a short position is opened. A position is opened at each new candle of the current timeframe (if there are no trades already running).

The open position is managed with a grid strategy.

You can set an equity stop loss level, an equity target, and a daily target. When one of these targets is reached, the cBot stops opening position, and will restart based on the time entered in the "Start Trade Again At" parameter.

The default parameter values are based to run it on XAUUSD.

Parameters:

Note: Time value is always in Local Time

Backtest example:

AlgoBuilderX Project:

OnTick

OnBar

Create your cBot now in an easy and intuitive way!
Try AlgoBuilderX now, no registration required: www.algobuilderx.com

You can find the AlgobuilderX project for free in our Discord channel: https://discord.gg/tYutSeQN

You will be able to import it into the AlgoBuilderX workspace, view it, edit it, or export it.

Important Note:
This cBot is a demonstration example created with AlgoBuilderX and is not optimized for live use. It is designed to illustrate the functionality of AlgoBuilderX and serve as a starting point for creating custom strategies. It is recommended that you carefully test and optimize any strategy before implementing it on a real trading account.