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Do you know that MQL5 can create custom graphical tools?
hally2710
617
hally2710 2014.03.15 05:36 

hi,

Im new to the world of EA's and was wondering if someone will be able to steer me in the right direction or even write it for me?

The rules are:
On the 15min chart any pair
-If there is a candle that closes higher then open but only buy 2 or more pips difference (bull), only if it appear after a candle of the opposite direction appears (Bear), then a buy order is created with a stop loss below the bull candle and a take profit of the difference between the open and close of that candle.
If the take profit or stop loss isn't hit in the next 15mins then the order is closed out at the open of the next candle.
-Opposite for a sell order

This interests me because if u look at a 15min chart you will notice that 7 times out of 10 after a move up or down on the 15min chart the next candle will move the same distance as the previous or even more. I know there is some that fail but I want to know if in the long run it is profitable.

Simple Example below
http://charts.mql5.com/4/171/usdjpy-m15-axicorp-financial-services.png

Thanks in advance

Simon Gniadkowski
Moderator
17963
Simon Gniadkowski 2014.03.15 11:25  
hally2710:

hi,

Im new to the world of EA's and was wondering if someone will be able to steer me in the right direction or even write it for me?

The rules are:
On the 15min chart any pair
-If there is a candle that closes higher then open but only buy 2 or more pips difference (bull), only if it appear after a candle of the opposite direction appears (Bear), then a buy order is created with a stop loss below the bull candle and a take profit of the difference between the open and close of that candle.
If the take profit or stop loss isn't hit in the next 15mins then the order is closed out at the open of the next candle.
-Opposite for a sell order

This interests me because if u look at a 15min chart you will notice that 7 times out of 10 after a move up or down on the 15min chart the next candle will move the same distance as the previous or even more. I know there is some that fail but I want to know if in the long run it is profitable.

Even if it's 9 time out of 10 that doesn't on it's own make it a profitable strategy, the missing information is the Risk:Reward . . . where is your TP ? where is your SL ?
hally2710
617
hally2710 2014.03.15 23:39  

thanks for you replies

stop loss below the bull candle and a take profit of the difference between the open and close of that candle. Opposite for bear candles.
A example is in the link in the first post.

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