Looking for a range based MM system to be coded
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Gidday
I am looking for a mm system that is based on using the daily range as the TP and SL.
They way I am looking for it to work is the greater the range the more of the FreeMargin is risked and vice versa.
I have attempted to code it my self but have had a bit of trouble
My maths might be wrong but this is what I am looking to acheive.
bar2
H = 1.64947
L = 1.64889
Range = H-L = 58
bar1
H = 1.64922
L = 1.64771
Range = H-L = 151
Percentage Risk = 151-58/151=0.61*100=61%
if there is $1250free margin I would like to the Percentage Risk as above the differance between bar ranges so 1250*61% = 762.5 risked on the next trade.
the Tick value is 10 so $762.5/10 = 76.25 pips ? i thinks
the range is 151 from the previous bar so w divide 76.25/151= 0.50 so my lot size is 0.50.
double Range = (H-L);
Can this be coded
Cheers
Kiwi