Ketty - expert for MetaTrader 5

The author of the idea - Andrey

mq5 code author - barabashkakvn

The EA works with pending Buy Stop and Sell Stop orders.

The strategy applies the general view of British traders as well-known “stop level hunters”. This means that the initial movement at the opening of the London session may not always be true.

The original rules for buying are as follows:

• After the beginning of the London session, wait for the price to reach a new range low, which is less than the Open price at least by the Channel breakthrough value (the range is a price movement between the Frankfurt and London openings).
• Then the pair reverses and hits the maximum.
• Set a buy pending order with the volume of Lots to Order price shift above the range high.
• Set stop loss (Stop Loss) and take profit (Take Profit) immediately.

Calculate the channel range strictly from Channel start hour::Channel start minute up to Channel end hour::Channel end time. Search for high and low within this range. Use the detected high and low as well as the dates Channel start hour::Channel start minute and Channel end hour::Channel end time to build a rectangle and visualize the channel:

A pending order is placed within a time range from Placing order start time (hours) to Placing order end time (hours). If we go beyond the specified range, while there is a a non-activated pending order, remove it.

GBPUSD, M15: