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Meta EA
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Variables
Stop loss : x pips (Distance in Pips), 10 pips plus ,minus the most recent bottom or top of lowest low or highest high , depending on either it is long or short trade.
Next trade: Y pips (Distance in Pips);
Y= Adding in positive on an opening of 4th candle, after a 3rd consecutive candles close in the same direction.... Not a fixed pip distance.
The next trade must be added above the last trade price if it is a long trade and below the price of the last trade if it is short trade. The condition for taking the next trade remains the same
That the 3 consecutive candles closed in the same direction+ Distance in pips between the opening price of the last trade and the asking price of the 4 thcandle = set in variables. Before the next trade is taken on the opening of 4th Candle price.
Z= Trade size
Following are variables in setting
1-Direction to open the First trade Buy /sell
2- Stoploss X points from nearest high/low (Numeric value)
3-Next trade distance x consecutive candles in our direction (Numerical value)
4-Number of consecutive candles to open new trade (numerical value)
5-Start Time
6-End time
7- Lot size (from 0.01 to high numbers)
8- Distance between the entry point and sl trail position in profit (Pips)
9- Number of trades limit in positive direction (Numerical)
10-Multiply Factor for increased lot size in flip trades (numerical value)
MECHANISM OF TAKING TRADES
At the opening of EA, the trader will select either short or long trade to start the EA.
If the last Z trade goes in to profit = Y pips (Distance set in parameters+ 3 consecutive candles closed in same direction of the trade.
Then
Add another Z trade in the same direction And move the SL of previous trade in to its entry position + pips in profit set in variable.
Continue on adding new trades as per above conditions
Till the Limit of adding trades in positive direction is met (which is set in the variables parameters)
For example: If the Multiply Factor variable is set for 3 trades, The EA Must close all trades in profit on the opening on 3 rdtrade in positive, according to set conditions And take a new trade of the set lot size in the same direction of the last trade.
If the last trade goes in to loss = X pips and stop loss hit.
Then
Add A single new trade in OPPOSITE direction with INCREASED LOT SIZE by adding the lot sizes of last trades which were stopped out, multiplying by the set Factor (in variable) .
I.e. If the total of lot sizes of the last trades which hit SL is 4 lot sizes, and the factor is set 2, then the new lot size will be 4*2= 8 lot size of this new trade.
SL of this new trade still be the same as per conditions, recent low or high of the candles in chart.
WE WILL continue to increase the lots size of the flip trades at every SL hit as per above conditions.
If any of these higher lot trades goes in to profit, the next trade will be of a REGULAR LOT SIZE set in parameters and the SL of the higher lots size trade will be moved to the entry + point .
If the 2 ndtrade also goes in to profit, and the 3 rdtrade is taken as per set conditions, the EA will check the limit set in parameters of positive trades and if it is set for 3 trades, the EA will close all trades in profit at the opening of 3 rdtrade and take a new trade of regular lot size in the SAME direction of the last trade.
TRAILING OF SL
Each trade will have stop loss pips.
As soon as the next trade is taken, the SL should trail to the entry position of last trade.
There is no profit target of any trade, however, all trades must be closed whenever the limit of the positive trades taken is met and all trades must close in profit.
EA must have a time schedule for start and stop session time.
Conditions of adding trades in positive
After taken the initial trade, the EA monitors the candles and take a next trade only
1- On the opening of following candle when the Z consecutive candles are closed in the same direction of the last trade (Z being a numerical count of consecutive candles define in settings)
&
2- If the distance between Ask and previous order open price is more than Y points being a variable defined in settings.
WHAT IF ONE condition is met but not the other?
i.e the 3 consecutive candles condition is met but the distance Y is not met , The EA will now only monitor the distance and as soon as the Y variable is met , IT will take next trade.
