Earlier this year, I tried one idea. On the demo I'm In manual trading has earned 2 300 USD from 500 USD deposit. There is simple idea to trade ony when market is move anywhere. For sideway market it is like filter - show me if I can or can not trade at the day. I created early in some script to set pending orders but gets up daily at two in the morning I did not want... After I developed EA to automaticaly start at 3:00 morning, set my pending orders and control trailling stops... Trough the day I control every trades, sometimes I moved SL, sometimes I closed open orders for better performance. Manualy it looks very good, bud EA - I have it - is very simple and canot be intelligent like human being. Now I need someone else to develop more smart this idea if it is possible... :-)
This EA based on morning price channel on 15M charts.
For intraday traders which trade on price action.Main idea is the move
price above or below morning price channel. On that borders we set
pending orders. Pending orders have two types. One with higher lot size
and a few pips to scalp and another one with smaller lot size for more
pips. For protection of fake signals used value "vata" as "cotton
wool", padding above and below morning prices seted on 15M candles. In
my time zone GMT+2 I calculate candles from 00:00 to 3:00 h. This EA is
designed for 5 digits account!!!
See the morning price channel created 15M candelsticks (from Open to Close)
Find (calculate) max and min values from Open and Close prices of that candles - set inner borders of price channel
start points for BuyStop and SellStop with protection of fake signals
typicaly on Candle Wicks - We still dont know where chart will go and
wait for exceeding of our "cotton wool"
figure is most common for understanding strategy. If candle cross our
"cotton wool" border - up or low time comes to start Buy (or sell)
order. In example below you can see candelstick (app. 10:30) that cross
white rectangle. All two types of pending orders was executed. One for
scalp - f.e. 65 poins start at this point and ending at same candle with
100% success. (500 USD balance, order have 0.23 lot size - very risky
but very gainful). Second order start at same point and wait for 350
points move... This order have 0,03 lot size (low risk). Set of course
SL for both!!!!
In this case strategy need set trailling stop
and some more conditions for open same orders later in same day! In my
strategy is only trailling stop seted - opening orders after closing
another ones i know not how develop.
Now we can see second chance for buy orders - 6 hours after first orders...
Buy 1 SHORT we win 65 poin order for 0,23 lot size (14.95 USD app.).
For Buy 1 LONG chart dont move above 350 points... All day wait for TP,
ending with loss at 23:00 at -95 point with 0,02 lot size (1.9 USD
app.). For Buy 2 Short (buy 1 short was closed, we can open another one)
is same way - win at 65 points, 14.95 USD. Buy 2 for long way not
opened because another one is still open!
- EA - in EA I calculate morning price channel, set "start" points for
buy or sell pending orders, set all 4 pending orders right at 3:01. EA
calculate trailling stop for better results if chart dont move... EA
closing or deleting all orders at 23:00 for free to set new second day!