Modification to london open breakout EA

MQL4 Experts

Specification

I have a simple EA that was built using EAbuilder software for trading the London Open. At the open, a pending buy and a pending sell order is entered just above and below the range prior to the open. The pending orders have a fixed take profit and a fixed stop loss. When one trade is triggered the other pending order is cancelled.

 

I want to modify this EA to limit the downside by adding the following(smart/modified martingale) –

  1.          When a trade goes to a loss of x pips (an input) a second trade is entered in the same direction that is 1.5 times (also an input) larger than the first trade.
  2.          When the price pulls back all trades are closed when the total of both trades is in profit ( the profit amount is also a variable in pips)
  3.          If the trade goes further into loss past the second trade of x pips (same input value) then a third trade is entered as before 1.5(input) times bigger than the second trade.
  4.          When the price pulls back all trades are closed when the total of all three trades is in profit ( the profit amount is also a variable in pips)
  5.          The process is repeated entering more trades as price goes against the first trade up to a maximum number of trades(an input)
  6.          Can we have an option to trail the profit amount, via the closing price for all trades once it reaches a set level of profit
  7.      After any of the trades are closed for a profit no further trades are entered until the open next day
  8.      A trailing take profit on the first trade would be good. At the open there is reasonable momentum and so often a few extra pips can be had by tightly trailing the price.
  9.      looking for an uncompiled .mq4 file so I can see what's going on
  10.      Anything else you can think of?

Cheers

Don






































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