Exper advisor that takes profit on next bar open, when previus bar close is more than X pip in profit

Hello,

GENERAL INFO

The ea will almost always be in a trade. Because profitable trade is closed on a bar open, and at the same time - on the same bar open, a new trade will open.

But if a trade is stopped out, it will be stopped out at a predefined level, and (probably)not on a bar open. On the next bar open, after stop loss, a new trade should be opened.

The EA will only work on the chart it is placed on.

The EA must have Magic number - which can manually be changed.

It is referred to  “X pip” some times. It means that the user can write the amount himself. If he writes “10” it means 1 pip.

RULES FOR BUY

Always enter market at a Bar open.

BUY at market when:

1.    If last trade was a loss (ended in stop loss), and was a BUY trade. 

The buy trade should open on the NEXT Bar Open, after the Bar that the previous BUY trade was stopped out.

2 

2.    2. If the last trade was a profitable trade, and was a SELL trade.

The buy trade should open on the SAME Bar Open as the previous profitable SELL trade was closed.

RULES FOR EXIT A BUY TRADE

PROFIT: If the buy trade has a Bar close (in the same timeframe) that is bigger than X pip in profit, then exit on the NEXT Bar Open.

STOP LOSS: Stop loss is X pip. Stop loss should be visible in the chart.

RULES FOR EXIT A SELL TRADE

Rules for sell are opposite of rules for buy:

Always enter market at a Bar open.

SELL at market when:

1.     1. If last trade was a loss (ended in stop loss), and was a SELL trade.

     The sell trade should open on the NEXT bar open, after the Bar that the previous SELL trade was stopped out.

2.     2. If the last trade was a profitable trade and was a BUY trade.

The sell trade should open on the SAME Bar Open as the previous profitable BUY trade was closed.

RULES FOR EXIT A SELL TRADE

PROFIT: If the sell trade has a Bar close (in the same timeframe) that is bigger than X pip in profit, then exit on the NEXT Bar Open.

STOP LOSS: Stop loss is X pip. Stop loss should be visible in the chart.

LOTS

To alternatives for choosing how many lots for each trade:

1: Choose a standard lot: X lots

2: X % of the the balance. (So when the balance increases - the lots also increase. And if the balance decreases - the lots also decrease. If deposit is $ 100.000, then 10% equals 1 lot.

ADDITIONAL OPTIONS

An alternative to choose if trading should be stopped Fridays at a chosen time and resumed on Monday at a chosen time.

An alternative to choose that the EA only will operate within a specific periode of time during the day: Example: between 07:00 and 16:00. If a trade is not closed at 16:00, it will close according to rules for exit, and not be forced closed at 16:00.

COMMENTS

The timeframe the trade is taken on should be written in the comments of the trades. Example: If a trade is taken on the 1-minute timeframe, the comment should be: “1 MIN”