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Hi Guys
Im looking for a EA to made for this Strategy, i have been using this strategy for about 30 days now using one Currency pair, GBP/USD, i have done 90 trades with 67 Win Trades and 23 Losing Trades. I have done a 3 months Back test and the Win ratio is around 60 to 70%. I will explain my Strategy below in a simple way, this is Basically a Breakout Strategy on every Market Session Open.
Trade Set Up
5 Min Time Frame Any Currency Pair
4 trades pair day using 4 market session open, if trade is entered and continues to other session we let it go until it reaches TP or SL
Plot a Vertical line on the first market session Open time , then after 30min candle close, plot another Vertical line. We do this for Sydney, Tokyo, Newyork and London.
Draw a Horizontal line on the Highest High an the Lowest Low of the first 30min.
Put Buy Stop Pending Order 20 pips above the Highest High , and a Sell Stop Order 20pips below the lowest Low
Long Entry
Once the Price breaks through the Highest High, the Buy stop order is triggered
TP 100pips, SL 100
Lot size no more then 3% Risk per trade
Usually once the market opens, the trend of the market is determined within the first 30min of trading, which will determine the trend for the day.
Short Entry
Same as Long but for Lowest Low.
I want the by Dafult to trade 6 Currency Pairs, and be able to change the settings if i wanted to increase or decrease currency pairs. Also i want the Input for the 20Pips above the HH and 20pips LL to be changed if i wanted to. I wants this so i can play around with the settings and TP and SL and see which one works better.
EA Example:
Trade 6 Currencies pairs at each market Open, So this means we have 6 trades open once the Buy or sell orders are triggered. Lets say we have 1000 Initial Deposit, 3% risk at $30 per trade. We divide this by 6 = 0.05 Lots per trade. Total trades for the day is 24 trades. Now lets say Tokyo Opens at 1.00PM GMT, the EA will then wait until the 30min candle is closed, it will then need to find the Highest high and the Lowest in that 30min time frame, and according to this, the EA then issues the pending orders as discussed above trade terms 20 pips above the HH and 20pips below the LL. Some of these pending orders will be triggered at the same time others few min or hours later, this doesn't matter. As long as they get triggered.
Now if any pending order is not triggered until the next market open, the EA will need to delete the pending orders for the previous market session and start with the fresh market open for the other session. So if Tokyo session non of the pending orders is triggered, the EA needs to wait for the next session and plot calculate and issue new pending orders for that market session.
The EA will repeat this with every Market open, from Sydney, Tokoyo, London, Newwork. Some trades will continue on to other market sessions, this dosnt matter as long as it reaches its TP or SL.
I want to be able to change the settings such as:
1. TP, SL, 2. HH and LL amount breakout distance amount. 3. Lot sizes 4. Add and remove currency pairs.
Also i wanted to ask if you guys can help to determine a good Slippage ration for this EA?..