Simple box-range support/breakout strategy

MQL5 Experts Forex

Job finished

Execution time 3 days
Feedback from customer
Active communication and working well EA
Feedback from employee
Good employer! Thank you :)

Specification

The basic concept is a box-range support/breakout strategy.

The time frame : 1 H

FX Pair : GBPUSD

The box range will be defined starting from the time the forex market opens until roughly one hour before or after the London open.

The high and low of that range will form the day’s box.

The first parameters I want to control are:

  • The option to decide whether to buy or sell when price breaks above the daily high.
  • The option to decide whether to sell or buy when price breaks below the daily low.
  • If first one is "buy to high", second one is "sell to low". (vice versa)

For candle references, I want to be able to input a specific starting time and the number of past candles used to define the box.
For example, if I input “5” for time and “3” for the number of candles, the box should be based on the high and low of the 2, 3, and 4 o’clock candles.

Orders should be placed as pending orders.
When one of the two pending orders (high or low breakout) is triggered, the other should be automatically cancelled.
If neither is triggered before the end of the day, both pending orders should be cancelled.

Take-profit and stop-loss (in pips) should be adjustable by numeric input.

Lot size should be either fixed or set dynamically based on account balance (e.g. 0.01 lot per 200 units of balance, where I can define the “200” value).

This is my first time making a request like this, so please feel free to ask questions or clarify anything you need.


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Project information

Budget
50 - 100 USD