Previous Candle high/low Trading Strategy

New comment
 

Hi everyone,


I need help to build up my strategy. I used that Idea with manual trading and it`s profitable. So now I need to have it automatic.

I would really thankful if anyone can code given below strategy.

Basic Trading Strategy :

# Check previous candle high value.

Place pending buy order at 5 pip above previous M15 closed candle,

# Check previous candle low value.
Place pending sell order at 5 pip bellow previous M15 closed candle,

# When pending hit then opposite pending order will automatic cancelled

# if sell/buy pending order not reached the target, then wait for the next 15min candle and cancel previous Buy and Sell pending order.

# Time Frame = M15.

# Lot Size = 1
# Take profit = 2 pip

# Stop Loss = 3 pip (from sell and buy price)
# Trailling = 1 pip

maybe with picture much more understanding


Example:

Previous high is 1.26500

Previous low is 1.26300

Buy order would be 1.26550 TP 1.26570 SL 1.26520

Sell order would be 1.26250 TP 1.26230 SL 1.26280

Thanks!

 
What program did u use to make the picture?
 
Hi,

I used Macromedia Fireworks

Thanks
 
if spread is greater than 2 pips your stoploss will be hit immediately.
also some brokers may not support stoplevels so near to the current price. you can check that with the function: MarketInfo(Symbol(),MODE_STOPLEVEL);
 
i have written this EA for someone else
try seaching "Stepper" in this forum
 
thanks Zzuegg and Doshur for your kind suggestion and support

I would like to try Doshur's EA "Stepper" and hope it will fulfill my requirements

thanks again!
 

Hello S hillary.

I'm interested in this EA. You got it? Can you share?

 
i find the solution of this idea? I am looking the same 
New comment
Reason: