Hi
Create an EA based on the FiboPiv_V2 indicator. The Fibopiv_v2 indicator draws fibonacci support and resistance lines.
Have a look at the some of the details of the EA; most of it it similar or repetitive in concept.
Option/Setting:
1- Trade Management setting:
* Lot size
* TP
* ST
* Breakeven settings:
* Jumping stop loss settings:
* TS
2- Trading Hours (true or false)
* TH Window 1: Opening and closing time setting
* TH Window 2: Opening and closing time setting
* TH Window 3: Opening and closing time setting
* TH Window 4: Opening and closing time setting
3- Email Alert and Semiautomatic mood
4- Resistance (R) and Support (S) levels settings :
*R1 Activate/Deactivate (true or false)
* R1 Sell Limit, pips away from below R1 line
* R1 Buy Stop, pips away above R1 line
* R2 Activate/Deactivate (true or false)
* R2 Sell Limit, pips away from below R2 line
* R2 Buy Stop pips away from above R2 line
* R3 Activate/Deactivate (true or false)
* R3 Sell Limit, pips away from below R1 line
* R3 Buy Stop, pips away above R1 line
Support levels settings:
* S1 Activate/Deactivate (true or false)
* S1 Buy Limit, pips away from above S1 line
* S1 Sell Stop, pips away from below S1 line
* S2 Activate/Deactivate (true or false)
* S2 Buy Limited, pips away from above S2 line
* S2 Sell Stop, pips away from below S2 line
* S3 Activate/Deactivate (true or false)
* S3 Buy Limited, pips away from above S3 line
* S3 Sell Stop, pips away from below S3 line
[img]https://charts.mql5.com/3/618/gbpcad-m15-tf-global-markets-fibopiv.png[/img]
So to summarize, the EA places limited and stop pending orders on the fibopiv indicator lines that are active according to the EA setting.
For example: let say only R1 and S1 are set to active. R1 Sell Limited 5 pips below R1 line and Buy Stop 10 pips above R1 line and on the other spectrum S1 Buy Limited 5 pips above S1 line and Sell Stop 10 pips below S1 line
based on the above setting/scenario, when price hit R1 sell zone sell order triggers or if price breaks the resistance and advance 10 pips above R1 buy order triggers. On the other hand if price hits S1 buy zone buy order will be triggered. If all six Resistance and Support line are active then the same process applies.
Soon as previously triggered order closes either on profit or loss the EA automatically place the next limited or stop order, creating a loop that last for 24 hours until the next or new day lines are drawn by the fibopiv_v2 indicator.
Thanks for your help
Phil
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