I am completely new to the idea of coding. I have tried to look at videos and learn it myself, but it will take some time.
I am trying to figure out if the following is possible to be coded:
I would also like to see one similar to the above, but positions are sold once the price moves back into the bollinger bands.
For example X currency pair is trading at 2.00000/2.00015, and it is below the bands and under 30, then a buy would be placed.
Then the above currency goes down to 1.99985/2.0000, a further buy would be placed, based on the % drop. For example, if it drops another 0.01% then 1 pip, if 0.02 then 2 pip.
This happens with each new bar.
Once the currency goes back above RSI of 30, positions are sold.
Another version, where once the price moves back within the bands, the positions are sold.
I'd appreciate any advice on this. Maybe it can be done, maybe it can't be. I'm unsure of being able to add further pips on a % basis of the underlying price.
Thanks in advance
This happens with each new tick.
Thanks for your quick response!
What sort of command would I be looking at for a % decrease/increase purchase?
Even that MQL is easy for coding you have to be a programmer otherwise you will not be able to develop your own EA. If you really want to do this you have to start learning MQL language from the beginning. While you learn the language from the official documentation you will find many examples and you can use them to develop your own EA.
Thanks mate. I just wanted to make sure the % drop to purchase could be achieved through coding. Guess I should get started. Fun little side project!
I have started with BB and RSI EA's which seem simple enough, I just don't know what kind of code/instruction would be given for a % base change in the underlying to figure out the amount of pips purchased.
Any help with that area?