Creating Fibonacci Entry System
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Hi,
I'd like to make an entry system that is a little quicker than manually creating orders. After identifying an AB boundary, I'd like to place 5 entries on specific retracement levels, 38.2%, 50%, 61.8%, 72%, 86% all with the same stop (behind the A). The target will start at the 161.8% extension for the first 3 retracement levels, then move to 127.2% if the position at 72% is triggered and finally 118% is the 86% retracement is met.
For example, if I decide the AB boundary in EURUSD should be A=1.0500 B=1.0600, the AB boundary is 100 pips in total. The stop should be at 1.0490 (10 pips behind the A), the buy limits should be at 1.0560, 1.0552, 1.0536, 1.0530, 1.0526 (2 pips ahead of the retracements). The target should be 1.0652 for the first three levels, then all the targets should move to 1.0620 for if the price retraces to the 4th level and finally 1.0610 for if the price gets to the last position (8 pips ahead of the extension).
Would this be easy to program in MQL? How can I do this, or pay someone else to do it for me?!
Thanks,
Alex