CANDLE PULLBACK EA

Once an pending order level is hit and the order is in, we want the stop loss to hit break even when the orders reaches “X”% of the total take profit in pips. So if the take profit is 250 pips and X= 50% then when the trades hits 125 pips in profit the stop loss moves to break even including the swap and commissions in that break even figure. 

Replacing the order:

If the order hits the stop loss or the break even level, and the price goes back to the top of the large trigger candle(wick or body from the indicator settings) for buys or the low for sells, then that pending orders will be entered again. 

Lot size change input for replacing pending orders

If the initial orders hit the stop loss or the break even and the high or low of the large candle is reached again like stated above the “Re-entered pending order” lot size input will include dropdown options: Same lot size as previous order, Martingale, Recover previous loss(calculates the loss for the previous orders and divide it by the number of pips for take profit to calculate a lot size), Recover previous loss plus(same logic as the Recover previous loss with an additional input called “Plus” were we enter an dollar amount to be added to the loss recovery amount to calculate the new lot size. If any other large candles enter the market afterwards, new pending orders at those new levels start with the initial input lot size.

Pending orders daily countdown:

This input we enter how many days the pending orders stay in the market if that level is not reached to activate the order.

Inputs

• All the inputs from the Pip Count Indicator 2.0

• Divide large candle by:

• Which Slot to Trade:

• Standard lot input:

• Lot by % of equity:

• Dynamic Lot: True or False (take profit in $ / Pips in the slot)

• Auto Take Profit: True or False (will close the trade based on the slot lines)

• Take profit in $

• Take profit in pips

• Take profit % of equity

• Auto Stop Loss: True or False (The same amount of pips as one of the  Candle Slots)

• Stop Loss Using the Large Candle: True or False ( If true, the stop loss is placed x pips away from the wick of the large candle only)

• Pips away from large candle:

• Stop loss Using the furthest candles: True or False (If true, the stop loss is placed X pips away from the furthest wick between the large candle and the candles before the pending order is hit  and becomes an active trade. 

• Pips away from furthest candle:

• Manual stop loss in pips: True or False

• Manual stop loss in pips:

• Break Even: True or false ( once the take profit for the order reaches a % of the total profit in pips or $ it moves the stop loss to break even. Include commissions and swaps in the break even amount.)

• Break Even %: 

• Replace Orders: True or False (Only if the break even or stop loss is hit will the system allow the pending orders to be placed again once the high or low levels of that large candle or the first divide line level is reached again) 

• Lot size change for Replaced orders:

• Same lot size as previous order

• Martingale

• Recover previous loss

• Recover previous loss Plus

• Plus amount in $:

• How many days to keep pending orders in:

• ADD THE “TIME OUT EA” AND ITS INPUTS TO THIS (I will provide this EA to be added as well, this EA closes all pending trades at a certain time then reopens then at a later time)

• Ghost Mode: True or False (Places market orders so pending orders aren't seen) 

Once complete we will own the source code and all rights to this ea and indicators.