Hi I need someone to make a robot for this trading strategy which is quite simple. Mainly work on Hourly chart but I want to test it on any timeframe to see which one is more profitable. These are the rules:
As soon as an hourly candle (or the specified timeframe) is closed (the user defines which hour based on the broker server time say 08:00 am as an example) EA put two pending orders, 1 pending buy order just at the high of the closed candle (+spread and commission) and another pending sell order at the low of the closed candle. There should be two options for take profit and stop levels: 1) the stop for buy order is the low of the closed candle and the TP is the difference between high and the low of the closed candle (1:1 Risk reward ratio) and vise versa for the sell order. 2) User defines sl and tp itself. Other options such as trailing sl should be optional as well.
one more thing as soon as any of the pending orders are activated the opposite one should be cancelled immediately (however there should be an option for user to select whether he wants to get the opposite trade in the case the first trade was loss with all the above explained tp and sl).
Thanks and please let me know about your comments.