Create EA to trade Blind Straddle Strategy

This is the Blind Straddle EA.

EA  waits for the 8am hourly candlestick to close at 9am. (ALL TIMES GMT not brokers time)

Or waits for the 8am candle to get to 8:30 AM in the M30 chart

Timeframe is either the T60 or the M30 chart

Step 1

Place a 10 pip LIMIT BUY Order above the one-hour 8:00am GMT candlestick wick high after it closes at 9 am

Step 2

Place an LIMIT SELL Order -10 pips below the one hour 8:00am GMT closed candlestick wick low after it closes at 9 am

Step 3

Once you are in the market, cancel the opposite order.

This is known as a OCO (One cancels the Other) order because once one is activated, the other order is cancelled.

Step 4

Set the Stop Loss according to the usual calculation of using ATR (X) where ATR(X) will indicate the daily range.

Step 5

Set the reward at 2.083 x stop loss pips from your market SELL or BUY order.

Exit the market when Profit = Stop Loss X 2.083

Take Profit is a multiple of Stop Loss (1.2 x SL) or a percentage of Profit Target i.e. 50% of Profit

Exit

When profit target is reached; exit market

If an OP_BUY/SELL_4 alert contrary to the trend is issued; exit the market.

Usually any OP_BUY/SELL_4 alert issued after the trade will usually signal an exit as they are always contrary to the trend.

CODING INSTRUCTIONS

The coding for the indicator is to be done using the iCustom MT code:

//---- Step 1: Define constants in your EA

#define OP_BUY_4        10    // Bullish Correction during Downtrend (blue dash)

#define OP_SELL_4       11    // Bearish Correction during Uptrend (red dash)

//---- Step 2: Read values from the signal buffer

int start()

{

// Read signal for this bar

double value = iCustom(Symbol(), Period(), "Marketpz-trend-trading", 10, 1);

// Do something

if(value == OP_BUY_4) { /* Your code for bullish correction */ }

if(value == OP_SELL_4){ /* Your code for bearish correction */ }

if(value == EMPTY_VALUE) { /* Your code if no signal */}

// Exit

return(0);

}

Please see attached strategy

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