Specification
Hi, i am looking for 5 minute reversal order block indicator/EA strategy which will place orders and trial stops below most recent high or low.
Find attached images for both buy & sell entries.
The rules for the EA are outlined below:
- EA will run from 7am - 3pm GMT
- Trades not entered unless High or Low of asian session is broken (12 - 7am GMT)
- When Asian high is broken, sells are looked for.
- When Asian low is broken, buys are looked for.
- Impulsive break of High or Low with a minimum of 3 bullish or bearish candles (see image)
- Must break and close above most recent High or most recent Low with candle body (see image)
- If high is broken a Buy limit order placed using 50% of last sell candle that breaks high (see image)
- If low is broken a Sell limit order placed using 50% of last buy candle that breaks the low (see image)
- Stop loss placed on low or high of order block as shown in images
- Add 0.5pip to entry
- Minimum SL 5 pips
- Orders cancelled at end of session (3pm GMT) if not triggered
- When in trade, the stop loss should be moved to most recent low once most recent high is broken.
These are guides, to be discussed in detail and agreed. There are other rules which need to be discussed.
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