I'm trying to find an EA for the mt4 platform that will immediately open a new pending order with the same specs as the original trade that closed for profit. For example, if I had a buy trade enter on EUR/USD at 1.1300 and a TP of 1.1310 which closed for profit, I would like an EA to immediately open a pending buy order for the same parameters (buy order at 1.1300 with TP at 1.1310). It would also need to be able to do the same for sell orders. The reason for this is I like to set up a bunch of orders at the beginning of the week, but I find myself having to leave my alerts on all the time to "replace" my orders when the trades close for profit. The immediate timing is important since I want to make sure that I take advantage of the price bouncing in between the buy/sell entry price and TP points several times. I have had several experiences over the last few weeks which during a 3 hour period I would immediately open "repeat" orders after the original trade closed and I was able to bank 3 more closed profits because the price kept ranging between my buy/sell entry and TP price points.
Does anyone know if such an EA exists? And if so, can someone please point me in the right direction?
Brilliant question for a brilliant strategy! I hope you came right after all this time.
If not... A guy called Alex du Plooy (expert4x.com) sells the exact EA you're looking for, at $280.00 a pop. Calls it the Grid Trend Multiplier, and boy, does it multiply profits!