PriceChaser System
Sounds like Grid Trading, which is very very dangerous.
PriceChaser_v1
I started working on PriceChaser EA.
It is not based on your strategy.
My strategy:
Many ECN broker are using banks for offseting they trades.
The best one are those they are integrated with Currenex
(multibank feeds). These banks are offering 10-15 different prices
at the same time. My EA is trying to pick the best one.
Collective is not integrated with Currenex but they bank is quoting
2-3 prices. See attachment.
That was Friday after 2:00PM NYT, market was death.
Spread_ECN_Scalper_v4
scalpmaster,
I have some similar EA,
based on price action.
Difference between buy/sell is only 0.5-0.7 pips.
Trade will be opened only if spread is lower as 1 pip.
See statement.
Bongo
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Any programmer interested to code this price action method?
Input parameters: Xtrades, Ywins, Alots, Kpips, Rcount, Jfactor
Start by entering virtual or smallest 0.01lot, both Long and Short positions for eur/usd Simultaneously, with 'mindset' profit target = 'mindset' stop loss = Kpips (could be based on 5minATR value & at least 15pips).
Price Block/Stage Condition (unlike individual candlestick which is based on time blocks/intervals):
If out of latest X no. of trades or less, Y no. of wins appears(in any order) for longs (note:Ywins may occur even before all Xtrades), enter real Alots Long only position (& close 0.01lot short). Otherwise, enter real Alots Short only position (& close 0.01lot long).
e.g. Xtrades=5, Ywins=3, Alots=0.1lot, Kpips=15pips
(Out of last 5 trades or less, 3 long wins appears of any order) ->enter 0.1 lots Long only
Otherwise (i.e. Out of latest 5 trades or less, 3 short wins appears of any order), -> enter 0.1 lots Short only.
Continue trading Alots, in the same/one direction Only, until current stage/block condition reverses.
i.e. If currently long only, when (latest 5 trades or less, 3 short wins of any order) appears, close long positions & switch to Short Alots only.
If currently short only, when (latest 5 trades or less, 3 long wins of any order) appears, close short positions & then switch to Long Alots only.
*Note: You do not need to actually close and re-open any Alot position at 'mindset' Kpips (1) within a Stage (just keep count of longs/shorts wins&losses ) AND (2) if each stage's end condition still wants to trade in the same direction (just leave the existing real Alot open) Until/Unless there is a switch, then close(actually take profit or cut loss finally) and open trade real Alot in Opposite direction immediately.
Rcount = total number of actual Closed trades, Jfactor=lot size changes parameter in fractional%, e.g, 0.2
If there is a Net Profit after Rcount, trade with increased Anew=(1+J)*Aprev lots; Otherwise, if there is a net loss after Rcount, trade with decreased Anew=(1- J)*Aprev lots.