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Please some friend help me to develop this EA idea:
buying conditions
If the close price of a daily bar (SMA 1) is over the 3 period SMA put a pending buy order 1 PIP OVER THE HI of this bar with stop loss 1 pip below the bar and take profit at the same distance up.
If the buying price is not HIT in the next 23 hours, it will be cancelled.
Sunday bars must be summed with friday bars, as if it was one only day or be ignored (it's up to the coder to decide), so, no pending orders will be placed in fridays, but only in sundays, looking for hi/low of friday + sunday.
The order size must be calculated to risk a % of balance or equity.
We can think in not to entry if the bar is too big ( > 2x ATR 14 period) or too small (< 0.5 ATR 14 period).
In the attached chart we can see the entry prices in blue. The arrows is the SMA1 X SMA3 cross. S=sunday GMT=0