Take Profit Based on Number of Bars
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Hi,
I'd like to propose creating options in indicators and EAs that also add a TP which triggers if a specified number of bars/candles has passed since entry.
It could be used by itself or together with a pips based TP.
My thinking was that many times if you wait till the open of say a 3rd or 4th bar you can make a good profit without knowing how many pips it would make. Also I think that at the start of a trend, say after a MA crossover, the first few bars offer a good average profit based perhaps on statistics.
Noam