I want to create an EA to start using candle pattern as a trigger to the
start of a new set of trades.the EA will
be placing a grid of trades of 1 level .
The ea will place this grid only if trriger candle is formed.
We will use the candle size and pattern to define this trigger ( use the
attached indiactor to define the desired pattern – failure candle).
TP: tp Factor X ( high[1]-low[1])
SL: Sl Factor X ( high[1]-low[1])
1-
Place a
buy at the close of a bullish candle.
2-
place
3Xlotsize pending sell at the low of the candle.
3-
If the
sell at the lower level is open, place 6Xlotsize pending buy at the upper
level.
4-
If the buy
at the upper level is open, place 12xlotsize pending sell at the lower level.
5-
24-48-96……..
Same process if the candle is bearish and 1st
trade is sell:
3xlotsize pending buy then 6X pending sell
then 12x pending buy…….
Here are the important things:
The ea will have the option to open
multiple set at one time, this means that if the indicator gave us a signal to
start the 1st grid (set).and subsequently we had another signal ,
the ea will start a new set of trade and a third and fourth and … maxSet of
trades. ( see attached files for more info)
Here are the extern inputs :
----Money management ----------------
·
Use Equity
% : true/ False
·
% of
equity :
·
Fixed lot
size :
·
Max lot
size :
·
Max set of
trades :
·
Candle
Size : 20 ( no trade will be placed if the candle trigger is less than 20 pips
in length)
·
Stop Loss
Factor:
·
Take
profit Factor :
·
Breakeven
Pips : 20 (move the sl to the BreakEven Profit after 20 pips).
·
BreakEven
Profit in pips : 5 ( when price move 20 pips ( Break even pips) , move sl to
+5).
·
$ profit
to close all sets: 100 (if the total profit is 100 , ea will close all orders (
open and pending and start over again)
·
Start Time
: EA will start trading after this time ( unless there is set of trades running
, the ea should keep placing orders only for those sets ( if not we will have unbalance)
·
End Time :
EA will stop trading after this time ( unless there is set of trades running ,
the ea should keep placing orders only for that set ( if not we will have unbalance)
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