I have been searching for an EA that would open a trade in a similar way as a trailing stop would work.
Let's say I am waiting for a retracement on an instrument. I would want to open my trade as high (or low) on the price as possible. So with an EA like this, I would be able to set my trade parameters and this EA will keep following the price in a similar way as to a trailing stop. When there is a reversal, the trade is hit and opened.
Have you ever seen such an EA?