Break out Candles

MQL4 Experts

Job finished

Execution time 1 day
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Specification

Hi Coders. 

This time i need an EA that execute the folow strategy:

 

 

TRADING RULES

  1. 2 hours after the london market opens, and as soon as the 2nd hour candlestick closes, place 2 opposite  buy stop and sell stop pending orders on the high and low of that 2nd hour candlestick. As soon as one pending order is activated, you must cancel the other immediately.

  2. These pending orders must be 2-3 pips (my choice)   above the high or low of the 2nd hour candlestick.

  3. the stop loss must be placed 2-3 pips above/below the high/low of the 1st hour candlestick IF it is the greatest distance away from the entry price level, if not use the high/low of the 2nd candlestick. Confused?

  4.  Let me explain. There will be times when if you enter a buy stop order, you will see that the low of the first candlestick is near the entry price but the 2nd candlestick has a low that is a bit further away, so you need to use the low of the 2nd candlestick to place your stop loss. Do the exact opposite on a placing a stop loss for a sell setup.

  5. Take Profit Target set at 30 pips  (my choice)

   I need  spread filter and magic number too.

 

   Thank you in advance 

 

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Project information

Budget
10 - 30 USD
Deadline
from 1 to 2 day(s)