Universal X-Body Strategy

// ============================================================
// Universal X-Body
// ProRealAlgos Strategy Library  |  prorealalgos.com
// Type: Momentum
// Direction: Long & short
// Timeframe tested: Daily
// ============================================================

// --- Settings ---
DEFPARAM CumulateOrders = false

// --- Parameters ---
positionSize = 1          // contracts per trade
sumPeriod = 578           // bars summed for the body-change total
signalDirection = 1       // 1 follows the signal, -1 trades it the other way
upperThreshold = 46       // body total must exceed this many pips to count as positive
lowerThreshold = 1        // body total must be below minus this many pips to count as negative
fridayNumber = 5          // entries only on days before this day of the week

// --- Indicators ---
// Running total of how much each candle body changed versus the previous one.
bodySize = close - open
bodyChange = bodySize - bodySize[1]
bodySum = Summation[sumPeriod](bodyChange)

// Last clearly positive and last clearly negative reading; both hold until updated.
IF bodySum > upperThreshold * PipSize THEN
  positiveSum = bodySum
ENDIF
IF bodySum < (0 - lowerThreshold) * PipSize THEN
  negativeSum = bodySum
ENDIF

negativeFading = negativeSum > negativeSum[1]
positiveFading = positiveSum < positiveSum[1]

// Trade bias holds until the opposite condition appears.
IF negativeFading THEN
  tradeBias = 1 * signalDirection
ELSIF positiveFading THEN
  tradeBias = (0 - 1) * signalDirection
ENDIF