Hi, I need a Breakout EA coded based on the following. Have manually traded this system for around 6 months now and have had phenomenal success. The EA should be able to do the following:
EA will be run on a 60min chart. It must place Buy stop and Sell stop orders based on the previous bars high and low +4pips for a BUY and -4pips for a SELL (Can maybe have a feature where one can specify the number of pips). Perhaps one should be able to specify how many bars to look back. Must have TP, SL and TS. This is the interesting part. Lets say a BUY order has been opened. I use a TP of 10 and a SL of 20. If the stoploss is hit a SELL order should immediately be opened if possible with a TP of 25. If not can put in a manual TP. I've had a few losses where my SL was hit and I was not there to open the ooposite order. I would really appreciate anybody's efforts in creating this EA. Many thanks
Sorry forgot to add one thing. If the price is too close to the target for a pending order to be placed the EA should execute an instant order when the target is reached. With my broker the pending order needs to be 10pips away from the current price.
Can someone program an EA based on the situation when the price starts 'walking the outer bands'(above upper band for long and below lower for short). It can be very rewarding. And to exit the trade when price enters the band.
Needlesss the to say it will have to filtered for false setups, that is, when price returns into the bands after a short time.
I have found it to be happening quite often if the Bollinger Bands is setup for(10,0,1,weightedclose)and market is trending.
All for60min charts
If you've had a lot of success with it, I can let you know of a good coder who's done work for me in the past.
What's a couple of hundred bucks if you think it's a great system, eh?
Otherwise, good luck with it.