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Execution time 58 minutes
I want an EA that will trade automatically on the median Renko Chart type every reversal with trend as follows:
If the Fast SMA is below the Slow SMA we go Short only.
We wait for the MAIN Stochastic line to be in over Bought territory, then we open a SELL order at the close of the FIRST reversal BEARISH-RED bar.
If the fast SMA is above the Slow SMA we go LONG only.
We wait for the MAIN Stochastic line to be in over Sold territory, we open a BUY order at the close of the FIRST reversal BULLISH-GREEN bar.
of course I will need also trade management tools as follows:
1) Stoploss
2) Target
3) Breakeven +1 after a number of pips in profit
4) an option to have the EA use a Doubling of Lots system as follows: if we get a losing trade by hitting the stoploss the next trade the Lot should double, if the next trade is also a loss it should double again, and continue so until we get a profitable trade that reached the Target, if the trade only went to BE we continue to trade the last amount of lots until until we get a trade closing in profit by hitting the target.
This system has to be continued overnight or even over weekends even if my MT4 terminal shuts down, the EA should remember what amount of lots is needed for the next trade when trading is resuming !
Once a trade with a full target hit we start again from the original amount of Lots.
5) only one trade at a time should be allowed to be opened (meaning we don't open another trade upon a new valid setup, as long a previous trade is still open)
6) a time from when to when the market should not take any new trades
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