Price Action EA based on previous candle
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Hi guys:
I'm new to the world of FOREX forums and EA's. I had a rather simple idea which looks good on paper so I was wondering if anyone could code it into an EA:
1) If the previous candle closes green (Bullish), close any existing SHORT position (if any) and then open a LONG position
2) If the previous candle closes red (Bearish), close any existing LONG position (if any) and then open a SHORT position
3) The EA should have a section where we can determine trading hours (I've noticed that during the European Market, this strategy would work the best, specially in the 1H or 4H timeframes).
4) We should be able to use this EA on any timefrime though (however, as I just said above, 1H or 4H are the best).
5) Stop loss, take profit, break-even options are welcome but not necessary for this strategy, since we're basically following a string of LONG/SHORT candles until the string is broken by an opposite candle (example: if we have 4 to 5 LONG candles, we'll exit and go SHORT as soon as a SHORT candle appears, and viceversa).
Thanks and I hope to hear from someone soon. (If this has already been implemented, please point me to that thread/forum).
Good luck on your FOREX trading.