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Is there an EA that works for order entry when the price has moved X pips in X time frame?
The reason I'm asking is alot of people look at pivot points or new highs/lows for good entry points for scalping...however, there are plenty of big moves where the market moves say 20 pips in 5 minutes.
Thereafter is a good spot to place an order as it will continue to move in the given direction.
A simple program to buy when it moves 20 pips in 5 minutes with a 5 pip stoploss and a 5 pip trailing stop would be interesting to test.
Anyone wanna code this? It should be easy.
-T