Need EA programmed - Simple

Logic

Opening (Entry Signal)

Open a new long position or reverse a short position 107 points below the previous low.

Open a new short position or reverse a long position 107 points above the previous high.

Closing (Exit Signal)

Close an existing long position at the closing price of the previous bar.

Close an existing short position at the closing price of the previous bar.

Handling of Additional Entry Signals**

Entry signal in the direction of the present position:

• No averaging is allowed. Cancel any additional orders which are in the same direction.

Entry signal in the opposite direction:

• Close the existing position and open a new one in the opposite direction using the entry rules.

Trading Size

Trade percent of your account.

• Opening of a new position - 5% of the account equity.
• Reversing a position - 5% of the account equity in the opposite direction.

Protection

The strategy does not provide a permanent loss limitation.

The strategy does not use a Take Profit.

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* Use the indicator value from the previous bar for all asterisk-marked indicators!
** The averaging rules apply to the entry signals only. Exit signals close a position. They cannot open, add or reduce one.

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Strategy Properties

Handling of Additional Entry Signals

Next same direction signal behavior - Does nothing
Next opposite direction signal behavior - Reverses the position

Trading Size

Trade percent of your account. The percentage values show the part of the account equity used to cover the required margin.

Protection