All orders
Rules
Specification
Range Breakout Buy Stop and Sell Stop.
Pair: XAUUSD. (Provide Input to change the pair as needed or make it so I can drop the EA on any forex pair in MT5 and the EA must work as per intended logic discussed below.
Time Range: 3 Pm – 12 AM. (Provide Input for Range Start time and Input for Range End time). Time provided here is just for example and better understanding.
Buffer: 10 Pips. (Provide Input for Buffer pips above range high and below range low, so that I can change the buffer pips accordingly to different currency pair)
Consider the Range high and Range low from Range start time Range End time.
Orders Placing Time: Provide Time input to place Buy stop and Sell Stop Orders.
Place Buy stop and Sell stop orders at the same time at 12.01 AM. As mentioned above provide time input to place Buy stop and Sell Stop Orders. 12.01 AM shown here is just for example.
Entry Condition
Entry for Buy Stop orders: Entry price would be Range High + 10 pips (Please note 10 pips here is for XAUUSD as example. The EA/Robot must identify the range High with the specified time range and add 10 pips of buffer to the Range high and place Buy stop orders for that entry price at specified time).
Entry for Sell Stop orders: Entry price would be Range Low - 10 pips (Please note 10 pips here is for XAUUSD as example. The EA/Robot must identify the range Low with the specified time range and subtract 10 pips of buffer to the Range Low and place Sell stop orders for that entry price at specified time).
Stop Loss
SL for BUY stop orders would be the Range low – 10 Pips (Please note 10 pips here is for XAUUSD as example. The EA/Robot must identify the range Low with the specified time range and subtract 10 pips of buffer off of the Range low and set SL for the buy stop orders)
SL for Sell stop orders would be the Range low – 10 Pips (Please note 10 pips here is for XAUUSD as example. The EA/Robot must identify the range High with the specified time range and add 10 pips of buffer to the Range high price and set SL for the Sell stop orders).
Target
Target: 1:2 (Provide input for take profit ratio, so I can change as needed).
Trailing Stop Loss
Move SL to BE: when profit is at 1:1 profit. Do not take partials. After moving SL to BE at 1:1, let the trade play and reach hit 1:2 (take profit) or SL at BE.
Lots / Trade Size
Risk %: Provide input for Risk %. (This risk % is percentage of current account balance / equity)
Let EA/Robot calculate the lot size based on Risk % I give as input and account balance.
When to Close the Opposite Orders
Close Buy stop orders when Sell orders hits target. And Close Sell stop orders when Buy stop orders hits target. Facilitate such that I can close orders manually when I need in MT5 after the orders are placed.
Back test
Facilitate for back testing this Robot/EA on MT5 using the historic data