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Hello, I want to create an EA that is based on support and resistance.
First of all, I would like you to tell me a closer value for the EA, because I don't know the ideal value. So don't get stuck on the budget amount placed in the topic.
Here the EA:
I want it to have parameter number of candles to look back to calculate support and resistance. Support is the lowest price reached in the amount of candles set, and resistance is the highest price reached in the amount of candles set. These will be the triggers for buy and sell.
I want two candle number parameters to look at, for example I will choose 21 and 51. Then, from the current candle, it looks at the highest and lowest price already reached in the period I put.
So I will be able to have two orders for support and two orders for resistance. And the two can coincide to be the same point.
For stoploss, I want a parameter of atr, calculated from the last 14 days, but I want this parameter to be a multiplication of atr.
For example, on today's date there was a buy entry. And the behind of 14 days at the time was 3. In the parameter if I put 2, this number must be multiplied by the value of the behind, the stoploss being -6 points of the entry. In the case if the parameter was like 3 , it should be -9 input points.
Take profit should be a fixed value that I put it in.
Thank you for your attention.
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